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Persival Wool Coat - Suitability and Level of Formality

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Hi! I am looking to buy a wool coat/overcoat to wear outside of work when I go out to restaurants, bars, events mostly during 2/3 very wet and relatively cold (-10C/14F to +5C/40F) months. With that in mind, I do not at the moment think it is wise to spend more than €4-500 on something that will likely get damaged by the weather and the social environment.

For additional context, my style usually leans more on more formal pieces whenever I dress for any social event, incorporating pleated trousers, fine knitwear and sometimes dress shirts, derby shoes/Chelsea boots/loafers - similar to what you see on WAYWRN: Classic Menswear, Casual Style.

I am considering this pea coat from Percival, however, I have a few concerns and would like to ask:
- Do you think that the level of formality of the style and the fabric is sufficient for it to be worn over a sport coat/blazer (or eventually a full suit) and not clash?
- Is the material - being only 47% wool, with the rest being synthetic - a bad idea in my context (particularly in terms of breathability and durability in adverse conditions)?
- Would you say that going straight away for something better/MTM in the €700-1,100 range is also an idea worth considering?

Thanks!

PS: I noticed the typo in the title too late :(
 

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