Before you ask -No, of course not. My clothes do not look like new, nor do I fit into everything any longer. Nor does everything fit me any longer. My life and my life style has changed drastically since then. Instead of daily, I now wear a suit twice a year, maybe. And it is not for work.
However, I have worn only some of my clothes from 2008. When an individual item just is not working any more, I go shopping in my storage where everything I have too much of, is kept. I do not get rid of fully functioning, fitting, fairly OK clothes that I already own. There is nothing wrong with anything that is in storage and some is really nice. I may take it for that special day when I feel like I want it, but it goes back afterwards.
It does indeed have its advantages to have a personal style that is quite consistent.
I care for my clothes, mend everything quickly, count and inventory annually and re-sew when need be.
I laundry as rarely as I can get away with and since I for a long time have bought the best of the cheapest, the pieces do keep quite a long time. I do not use a tumble dryer, everything is always hung and air-dried.