George at Asda has sold 77,000 'little black credit crunch coats' this weekend, after launching the product to offer cash-strapped shoppers investment pieces.
George's wool coat retails at £15 and the supermarket aims to sell a quarter of a million coats over the next few months. George sold 15,000 coats in the first two hours of it going on sale.
George said the coat will satisfy shoppers who are looking to invest in timeless and traditional workwear pieces.
Brand director Fiona Lambert said: "Customers want classic lines that they can wear for longer and fripperies are becoming a thing of the past as the nation moves further away from disposable fashion to something more durable. Similar styles were donned in the past by style icons Jackie O and more recently Carla Bruni, and the black coat is set to make a comeback."
George said that sales of men's basic white shirts are up 73% on last year, while sales of the classic men's black suit at £25 is up by 12%.