However I recently got the 'near invisible' sneak perk and it dawned on me....
I don't need no armor.
I have in one house a set of very posh clothes that look cool on my dude so my question is this.
Is it possible to fortify my clothes with some armor enchantment that will give me a slight layer of protection should the unthinkable happen and I get attacked by a bear or what not?
Or is this a fools path and armor is the only way?

You can't give clothes armor rating, but you can enchant some to be +alteration to boost AC spells (stoneskin type stuff). Put some perks in alteration and I'd think it could work quite well indeed.