The royal wedding is fuelling business for luxury brands. And much of this is due to what is being called the “Kate Middleton effect”, reveals a recent study by Barclays Corporate. According to the report, the big gainers of this boost are going to be top luxury fashion brands like Louis Vuitton, Chanel and Dior. The report says that these brands will experience growth of 29 percent by 2014. The Kate Middleton effect could fuel a growth of £8.6 billion ($13.3 billion) by 2014.
In the run-up to the royal wedding, Kate Middleton’s choice of clothes has already boosted sales at her preferred high street retailers, Reiss, Jigsaw and Topshop. Once it got out that she bought her outfits from these stores, fans rushed there to get the Kate Middleton look. In fact, the chic Burberry trench coat (worth £650) that she wore to announce her engagement flew off the racks within a day. The Luisa Spagnoli-designed pillar-box skirt that she wore last month to St. Andrews sold out at Knightsbridge boutique Hollie de Keyser in one day. The boutique ended up re-ordering 100 suits.
Kate has also been wearing designer clothing from Mulberry, Burberry and Temperley. It is believed that once she comes into her own in terms of fashion and style, she will be seen in more and more designer clothing from luxury brands. And fashion brands will be looking to benefit from Kate and her upcoming wedding.
Kate is not your usual celebrity endorser however. Royals don’t accept paid endorsements. But her young, pretty, high-profile face certainly spells good news for luxury fashion.
Via: Haute Living