Now, however, ties are staging a comeback - thanks to nervousness over the credit crunch.

Credit crunch sparks tie revival

By Charlotte Bailey Last Updated: 2:03AM BST 22/06/2008

Once it looked to be going the way of the cravat and the waistcoat. Eschewed by David Cameron and Jeremy Paxman, the necktie was thought to be heading into obsolescence.

Now, however, ties are staging a comeback - thanks to nervousness over the credit crunch.

Tie merchants have enjoyed a ten per cent increase in UK sales in the last three months.

The reason their trade is flourishing against a grim economic backdrop is, they say, because office workers are desperate to “smarten up” to avoid being picked for redundancy.

Even those who have already got the chop are buying ties to wear to job interviews.

Richard Whitbread, marketing manager of Tie Rack, said: “Since the doom and gloom set in, sales of ties have picked up. We have seen a 10 per cent increase in sales over the last quarter.

“When people start to be more concerned about their jobs, they start to smarten up. Also a lot of people are looking for jobs at the moment.”

Lee Hamilton, a buyer for formal wear at John Lewis, reported a sales increase of 17 per cent in narrow ties 18 per cent in Italian ties.

• What ties feel like to me: