The glamorous Australian appears to be believe that her frillies are a key tool for ladies in search of an adulterous walking wallet.

“For every down-at-heel hedge fund manager who has had to ditch his mistress due to financial hardship there’s always another waiting to step in,” she explains.

“And in these hard times you find that when a woman can’t afford a dress in the luxury echelons, she may opt instead to part with £20 on underwear that makes her feel good.”

Certainly an intriguing business model but clearly one that is working for Elle, who scooped a gong in recognition of her achievements as CEO of her eponymous lingerie label at the Esquire Man At The Top Awards at the Haymarket Hotel in London.

“I began my own label 20 years ago, before fashion was so celebrity-driven,” Elle, 45, told us. “In a difficult market we’re doing better than we ever did.”

She confessed that her business acumen, coupled with her understanding of sex appeal, has paid dividends amid the economic downturn.

“It’s raw and uncomfortable out there right now with the recession but there are new business opportunities for the brave.”