Not only possessing a sophisticated fashion sense, Meghan Markle also cleverly turned this passion into a potential business opportunity. The former Princess of the British Royal Family is gradually asserting her position as a smart investor by investing in small brands and helping them “transform” dramatically.
Meghan Markle (43 years old) has just revealed to the New York Times about adding the luxury handbag brand Cesta Collective to her portfolio. The Duchess of Sussex was recently spotted carrying a handbag from the company specializing in producing handbags handwoven by Rwandan women and finished in Italy. She showed off this $750 (VND 18 million) accessory during a trip to Colombia with her husband, Prince Harry.
Some of the brands that Meghan has worn in the past have recorded a surge in sales after being “promoted” by her. A prime example was in 2017, when a handbag from Scottish brand Strathberry sold out online in just 11 minutes after Meghan wore it on an engagement with her then-fiancé Harry.
Seeing the brand’s sales soar after she wore one of their products “completely changed the way Meghan dresses.” She explained to the NYT that knowing that what she wore would be “globally noticed” meant she would “support designers I have close friendships with, and small, emerging brands that don’t get the attention they deserve.”
Meghan added: “It’s one of the most powerful things I can do, and that’s just wearing, like, an earring.”
The powerful influence of a former princess’ style
Her influence on Strathberry’s sales was so great that the brand was reportedly able to expand its workforce, suggesting her endorsement could be worth significant financial value.
Another brand experiencing the “Meghan effect” is London-based synthetic diamond company Kimaï. In 2019, the royal was photographed wearing £630 Felicity earrings that she bought herself.
According to Kimaï co-founders Jessica Warch and Sidney Neuhau, this sparked $1.2 million in sales.
Meghan’s little-known talent: The savvy investor and successful businesswoman with a series of successful brands – Photo 3.
The duo explained their profits over the past few years and how Meghan played a key role in the surge in sales. Jessica said: “We launched without any investment, and then two months after launching we got Meghan Markle to wear our products. This allowed us to increase sales significantly, and we’ve since raised $1.2 million.”
The brand, which only uses lab-grown stones, as well as only recycled gold, has gone on to secure a record-breaking investment from Dragon’s Den star Steven Bartlett. He put in £250,000 for a 3% stake – his biggest investment to date.
Jessica and Sidney noted that Meghan had worn the earrings when they introduced their company on the show. They said they used emails to get her to wear the accessories, adding that they were “big believers” in the tactic. “That’s how we got all our investors too, because we didn’t know anyone in the industry,” they told The Sun.
T
The newspaper reported in January that the company was expected to make a profit of £500,000 by 2024, after making a loss in its first four years.
Cesta Collective – Meghan Markle’s ‘chosen’ brand
These brands appear to have benefited from Meghan wearing their accessories. While the former senior royal has said she has between five and 10 brands in her portfolio, the only ones confirmed are Cesta Collective and Clevr Blends, a vegan powdered latte brand that can be bought in the UK for £23 for a 14-serving bag.
The Duchess of Sussex – who ran lifestyle brand The Tig before meeting Prince Harry – first discovered Cesta when