It's likely a fairly modern theatrical piece. The zig-zag machine stitch used to make buttonholes by machine wasn't commonly in available until the 1960s, though specific machines for that stitch only are around in the 1940s. The label, while hard to read most of, seems to say "theatre" on the second line.

There are machine-made stitches clearly visible on the red piping, attaching the white, faded label to the inside collar, and connecting various pieces of the garment. The first practical sewing machine that was put into widespread use by tailors was patented in 1830, so this likely wasn't produced before then.