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Many Brits breathed a sigh of relief when ties fell out of favour in the office and we bid farewell to the greatest fashion faux pas – the novelty tie. But latest research from MINTEL shows that following their demotion at work, ties have redefined themselves and are now experiencing something of a renaissance. With sales of ties having fallen from £158 million in 1999 to just £154 million by 2004, the tie market has since made an impressive come back. The market is expected to be worth no less than £162 million this year, following 5% growth on 2004 figures. MINTEL predicts a further 7% growth for the coming four years to 2011.