A new wallet is not a bad gift idea for a men. It’s the kind of thing a lot of people might discount because it might seem to be a “gotta find something to give him” kind of gift. But actually, for many men it might be quite useful.
I've been using my wallet for maybe a decade! It’s overstuffed and somewhat ragged, but still serviceable. Since it hasn't quite fallen apart, I probably won’t buy another one for myself for years yet. But if someone were to give me one as a gift, it would be welcome.
Of course, before giving such a gift, you must be able to somehow examine the wallet the man is now using. Otherwise, you may end up giving him something he’ll either have to return, or just put away in a drawer because it doesn’t meet his needs. Having used the various pockets and windows in my current wallet for so many years now, if someone gave me one that was radically different, I might not want to make the effort to adjust.
But, if you have a close enough relationship with a man to have a sense of what he wants in a wallet, by all means consider giving him one.