Thursday, October 14, 2010
Neckwear industry in knots as ties' popularity wanes
March 3, 2010
By Sandra M. Jones
Even though more out-of-work executives are on the interview circuit, neckties still can't muster a comeback. As the unemployment rate climbed to 10% last year, tie industry executives pinned their hopes on men buying ties to dress up their old suits. But that didn't happen. Instead, suit sales in the U.S. rebounded to end 2009 virtually unchanged from a year earlier, a marked improvement after years of decline. Ties, on the other hand, had their worst year since the dawn of casual Fridays relegated neckwear to the back of the closet.