The traditional Japanese/samurai look suits him outstandingly well. Red and gold, which are Japanese royal colours, echoes to his status as the leader of the Uchiha clan. The tiger print on his kimono is the symbol of strength, power and beauty. All the more fitting I should say.
Reference used. Tiger print doesnt belong to me. I dont have a link but the credit goes to the artist who made it of course. Credit to =MouritsaDA-Stock for flower prints.
Little sneak peek: Did anyone notice that Madaras katana is a near perfect copy of Itachis on the "Serenity" one? [link] I like thinking they had similar katanas or that Madara passed his on to Itachi. But thats just my imagination.