Navy & Magenta is currently one of my favourite colour combinations. It's a combo that clothing company Gorman does oh so well, but there is no reason why your favourite clothing colours can't flow through to your interior. Especially if they make you as happy as Navy & Magenta make me!!
The trick is in getting your balance right. In most of these images you will notice that the Navy is the major part of the colour scheme and Magenta is simply used as an accent colour. With a lick of paint or a change of cushions or throw, the scheme can be completely transformed. I have a bright Magenta rug in my living room which is a little wild but I know that in a few years time when it starts to look tired, I can easily replace it and change the whole look around.