Demand has plummeted, and for the first time in almost 30 years, fashion store Debenhams now stocks just ONE pair.
Instead its most popular braces are now risk averse grey, traditional bank, manger dark blue and sombre serious black.
Said Debenhams spokesperson Ed Watson: “The days when Gordon Gekko was a fashion symbol in the City has come to an end.”
“City workers are abandoning styles once associated with flamboyant deal making and opting instead for colours which enhance the impression of being a safe pair of hands.”
Red braces first shot to prominence in the City after deregulation and the release of the 1987 film ‘Wall Street’.
Out went bowler hats, three piece suits and roiled up umbrellas as a new breed of trader, banker and analyst swept more conservative dressers aside.
With fortunes being made on the back of high risk investments, red braces became a virtual uniform as highly competitive teams decided that they too could be Gordon Gekkos in the making.
Continues Ed Watson: “Our sales figures show that bright red braces first went into decline in 2008 when so many banks collapsed.”
“The decline became even more severe the following year as more people began to realize that this was not a temporary blip and the reasons for the crash began to emerge.”
“Suddenly flamboyance and risk taking became bad words, and City workers, eager to distance themselves from that culture, switched to conservative colours instead.
“Now our two top selling braces are both traditional grey - one is a light grey with pin dots and the other dark grey with subtle diagonal stripes.”
“The message they send out is clear – it is one of trust, caution, and a highly conservative approach to handling money.”
“It is safe to say that neither would have featured in Gordon Gekkos’ wardrobe.”
“Our next most popular colour for braces is beige. We’re assuming that these are now the braces of choice when today’s bankers really want to let their hair down.”
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