I like it a lot!!

I believe "The dreaded lawn chair effect" occurs, for some people, if there isn't a strong vertical element in the pleat. When that is the case, you are left with a dominant horizontal bar which can accentuate a wide rear....bumper

Your dominant red stripe reduces the likelyhood of that.

I think you've made a fine choice, and one, if I were to wear that tartan, would likely make myself.

I say: Go for it!