Sophistication, power, and elegance. Black is the color of a strong person, not necessarily physically but also intellectually. It's a favorite color of business, and office workers used to wear it to show their confidence, authority, and seriousness. According to some sources, it originated in Western cultures.
In psychology, black is often associated with negative emotions such as fear, sadness, and grief. It can also be associated with qualities such as introspection, mystery, and the unknown. But it will be fair to say that there are people who wear black just because it's a winning color that emphasizes the figure. Like violet, it does have positive sides.