How Kate Middleton And Her Brood Bring £10 Billion To The UK Economy
The British Royal Family does not appear on television blatantly hawking commercial products. But members of the House of Windsor, like everyone else, have to avail themselves of clothing and household goods. Some receive the “Royal Warrant” that certifies a brand is approved for royal use. Those companies can use the Crown’s coat of arms in its branding. But even those without the warrant reap the benefits of the royals’ unofficial approval.
A U.K. consultancy group has estimated that the Duchess Cambridge, also known as Kate Middleton, and her children are collectively worth £10 billion ($15 billion USD) to the U.K. economy.
The Mirror reported that, according to Brand Finance, Duchess Kate, Prince George, and Prince Charlotte give British businesses a boost every time they are spotted in public sporting a particular brand. Kate’s influence is said to bring in £4.7 billion ($7.1 billion) to the economy, and her children £5.3 billion ($ 8 billion). Princess Charlotte is responsible for £3 billion ($ 4.6 billion) even though she has only been seen twice in public.
Gillian Taylor of GH Hurt & Sons said demand has been high for the shawl the princess wore shortly after her birth in May.
“We have seen a big increase in orders from all around the world, thanks to all the media coverage.”
Brand Finance estimates Princess Charlotte’s birth brought in a benefit of £100 million.
Marie Claire reported in July that Duchess Kate’s fashion favorites have enjoyed increased demand as a result of the Duchess’ unofficial promotion. David Reiss, founder of the brand that has his name, says Kate has helped boost his business.
“There is no question that Kate choosing to wear Reiss has impacted our brand. We have noticed a significant increase in terms of brand interest and awareness globally, strengthening existing markets and attracting attention in markets we are yet to enter.”
Natasha Rufus Isaacs of ethical label Beulah was also grateful for the royal endorsement.
“We were a relatively unknown and young label, and it definitely helped spread the word about us and the cause that we support.” Beulah is committed to helping trafficked and vulnerable women.
The royal family as a whole is said to bring in £57 billion ($87 billion), according to Business Insider Australia. That includes tourism to the U.K. as well as what Brand Finance calls the “Kate Effect,” “George Effect,” and “Charlotte Effect.” It also includes the monarchy’s assets, such as the Royal Collection.
[Photo by by WPA Pool / Getty Images Entertainment]
