Exegesis:

anthrōpos de tis ēn plousios ‘there was (once) a rich man.’ No connexion with the preceding is indicated or suggested. Cf. also on v. 1.

kai enedidusketo porphuran kai busson ‘and he used to dress in purple and fine linen.’ The imperfect tense suggests habitual conduct.

endiduskomai ‘to dress oneself.’

porphura ‘purple,’ hence ‘purple garment,’ here referring to the upper garment.

bussos ‘fine linen,’ hence ‘fine linen cloth,’ here referring to the undergarment. Both words suggest expensive clothing.

euphrainomenos kath’ hēmeran lamprōs ‘enjoying himself splendidly every day.’ The participial clause is syntactically subordinate to the preceding clause but semantically of the same order. euphrainomenos refers probably to the feasts which the rich man gives.

lamprōs ‘splendidly,’ ‘luxuriously.’

Translation:

Who was clothed (or, used to dress) in purple and fine linen, or, ‘his garments were of purple (cloth) and fine linen.’ One may have to shift to terms for garments, and or/material known in the culture as expensive and luxurious, e.g. ‘in silk and satin’ (Tae’ 1933), or to make that connotation explicit, e.g. .’.. in expensive red and white cloth’ (cf. Kekchi), ‘beautifully dressed in a smooth sarong of fine cloth’ (cf. South Kekchi), ‘in a luxurious robe and shirt,’ “in the most expensive clothes” (Good News Translation).

Feasted sumptuously, or, ‘was having (lit eating) big feasts’ (Sranan Tongo), and cf. the note on “making merry” in 12.19.

Quoted with permission from Reiling, J. and Swellengrebel, J.L. A Handbook on the Gospel of Luke. (UBS Handbook Series). New York: UBS, 1971. For this and other handbooks for translators see here . Make sure to also consult the Handbook on the Gospel of Mark for parallel or similar verses.