I would suggest, that if you are intending to make it professionally in this music business, the clothes that you wear and hence the image that you project to your audience does play an important part, that of which are likely to determine your success besides, of course, your music. Gone are the days when people only cared of the music and not the clothes for then was the time when this business, if I am not wrong, hardly existed.
Now however, most bands who are internationally-acclaimed have not only good music to share with the world, but also pleasing to in terms of their image. Having a good image too implies that one has done oneself great respect as to how one carries oneself. It is this factor that most people would judge as we being human beings, it is of nature that we inevitably judge a person on the first impression merely by looks alone. (After all how many times can we afford such a chance to meet a stranger - in the streets for example - without having to visually see how the person looked like? Little, I would guess.)
Although some might argue that a Recording Label, for example, would only have to listen to the demo tape provided. But after that, what then? What if they wanted to see the band performing live? It would be just as well the same as a job interview, where not only your CV and resumes are important, but also how the Interviewer perceive you by your dressing and grooming and decide then whether it would be worth his while to actually interview you.
Thus it is inevitable that image does play a huge factor in today's day and age. Of that it includes style of dressing.
I do not mean to disagree with those that say that the music is of course the main thing to be considered, but if indeed the person who asked this question is seeking success in the industry, then it would only be wise to mention this point of view which I have noticed many have left out.
In answer to your question:
The style of dressing would have to correspond to the style of music that you play. That is the most simplest advice I can give you. Also, a little bit of flair would be nice as well. A creative touch perhaps to make yourself stand out from the rest?
Either way, whatever it may be, be sure that your apparel are in good order (clean, neat, unless of course the style of music requires otherwise).
I draw from experience that that I have said, and from my education that I am able to provide you as detailed as possible an explanation. I hope that it helps you. Cheers! And good luck!~