Forget the crown jewels, HRH George Alexander Louis is set to become the country’s most precious and valuable asset yet, and here’s how the Royal Baby will boost the economy…
Buckingham Palace accounts recently showed that rebuilding work on Kate Middleton and Prince William’s Kensington Palace apartment cost £1 million. A rather hefty amount, but luckily for the couple, taxpayers footed the bill.
The ‘apartment’ consists of 57 rooms (that works out at a cost of £20,000 per room) and will be shared by Kate, William, and newborn baby George Alexander Louis. Sounds slightly excessive for a family of three, but the contents of Kate’s influential wardrobe are likely to fill up a bit of space.
While reports of this lavish spending may be a little hard for the British public to swallow in the midst of a recession, the good news is that the Royal Baby is in fact due to boost the economy!
According to new data from the Centre for Retail Research, the economic ‘baby boom’ will generate a staggering £243 million by the end of August; it’s predicted that £87m will be spent on festivities, £80m on souvenirs and toys, and 76m on books, DVDs and Media.
Here are a few companies who are already cashing in…
- In a genius marketing move by Asda, the supermarket chain immediately rebranded the slogan for their clothing line, George by popping a crafty little crown on top of the ‘G’. One can only imagine the barrage of children’s clothing that’ll soon be infiltrating their stores; we envisage sparkly pink princess dresses, royal blue baby grows with miniature crown patterns, and slogans to the effect of ‘Prince Charming’ or ‘Little Treasure’.
- Marks & Spencer was stocking collectors’ commemorative tins inscribed with George’s name within just 24 hours of his name being announced. The British retailer expects all of the 1,500 limited edition shortbread tins – which cost £20 each – to be sold by the end of the week. Sweet, or totally cynical? Either way, we’re thinking it might be worth investing in a tin and sticking it on eBay when times get hard.
- Company bosses at Emma Bridgewater in Staffordshire described demand as ‘ballistic’ and said they were on track to take 7,000 orders for a run of special commemorative mugs less than 24 hours after the name was revealed. Mark Thomas, head of manufacturing, said that within three minutes of Kate and Wills announcing the name, the company’s decorators were hard at work creating the hand-made mugs which bear the slogan; ‘Hooray for George’.
- Tesco said online sales of its F&F baby clothes, including the Royal Baby line, had rocketed 163% since baby George was born, and that it expects an 83% day-on-day lift.
- Indeed, any brand of clothing or item worn by, used by, or even associated with the Royal Baby from now on is guaranteed to fly off the shelves. Forget ‘the Kate effect’, these days it’s all about ‘the Prince George effect’. For example, the £12 printed white swaddling muslin cloth by aden + anais in which the Duke and Duchess of Cambridge wrapped their son before leaving the Lindo Wing of St Mary’s Hospital, Paddington, has already sold out.
Not every company, however, has had success with Royal Baby merchandise. One unnamed Dorset firm took a very risky gamble by ordering 5,000 pink plates commemorating the arrival of a ‘Royal Princess’ after receiving an ‘inside tip’ from a supposedly reputable source. Ouch.
Well, you never know, K Midz and Will may have another…
Words: Heledd Williams