Better labels? The first thing I learned about mens fashion was to ignore the labels and find the highest quality garmets out there - typically custom made. Simply put, there's nothing that comes close to the style or the quality of a truly great suit.
That said, if I was buying a suit "off the rack" by your definition, I'd head to Joseph A. Banks. Classic American styling, on site tailoring, and a damn fine quality suit - particularly for the price.
As for the "name brands" (Armani, CK, Versace, etc, etc)... realize that each design house makes several labels. The ones you truly think of when you hear Armani suit; those are not going to be 80% off. As mentioned above a top of the line Armani suit is 5K+ and will last you a lifetime.
As for tailors, I use a little Persian lady who works out of her house when I'm here in Austin. She was referred by a driver we use for big events.