Abu Saeed Al-Khudri, Allah be pleased with him narrates that when the messenger of Allah, Allah be pleased with him would wear new clothing he would recite the following, mentioning the name of the item of new clothing, for instance a Turban or shirt or cloak, 
 

O Allah! All praise is for You, You are the one who clothed me with it. I ask that You grant me its goodness, and the goodness for which it was made, and I seek refuge in You from its evil and the evil for which it was made

 
Note: The Messenger of Allah, Allah send peace and blessings upon him would mention the name of the item of clothing when reciting the Dua. For example, You are the one who clothed me with this shirt etc. 

حدثنا سويد بن نصر أخبرنا عبد الله بن المبارك عن سعيد الجريري عن أبي نضرة
عن أبى سعيد الخدرى رضى الله عنه قال‏:‏ كان رسول الله صلى الله عليه وسلم إذا استجد ثوباً سماه باسمه -عمامة، أو قميصاً، أو رداء يقول‏:

‏ ‏اَلَّلهُمَّ لَكَ الْحَمْدُ أَنْتَ كَسَوْتَنِيْهِ أَسْأَلُكَ خَيْرَهُ وَخَيْرَ مَا صُنِعَ لَهُ وَأَعُوْذُ بِكَ مِنْ شَرِّهِ وَشَرِّ مَا صُنِعَ لَهُ‏ ‏

(‏‏‏رواه الترمذى، باب ما يقول إذا لبس ثوبا جديدا)