Like previous royal family newborns, Prince Louis’ birth helped boost British businesses and the UK economy – with everything from family knitwear firms to bookmakers quids in
From memorabilia to items of clothing and accessories, the birth of a royal family member presents a financial opportunity for British and international retailers and businesses.
Research completed by Centre for Retail Research indicated that £1.1m will be spent by parents who are trying to follow the royal baby’s style.
Another £1.5 million will be spent on souvenirs and £2.6m on celebrations – meaning pubs, bars, restaurants and supermarkets will benefit.
An additional £400,000 will be spent on newspapers and books, and £1.1m on children’s toys, clothing and accessories.
In the first few weeks after Kensington Palace announced Louis Arthur Charles’ introduction to the world on 23 April, he is expected to generate between £50m and £90m to the UK economy through memorabilia and infant goods, according to the Centre for Retail Research and marketing consultancy Brand Finance.
That’s just a drop in the ocean, though, compared to older siblings Prince George, who turns five in July, and Princess Charlotte, who turned three today (2 May).
Already, they are said to have already accumulated £2.6bn and £3.7bn respectively.
Here’s some of the companies that benefit from royal births.
GH Hurt & Son
Last week, onlookers witnessed Prince Louis being carried out of the Lindo Wing, at St Mary’s Hospital, wrapped in a blanket knitted with Nottingham lace, a heritage material with deep roots in the East Midlands city.
He followed a royal family tradition started by the Queen when she chose Nottingham knitwear company GH Hurt & Son for the baby shawl worn by Prince Charles when he was born almost 70 years ago.
The family business, which was started more than 100 years ago, has since become known for producing luxury knitted-lace shawls for royal newborns.
The shawls have attracted global attention after being wrapped around Prince George and Princess Charlotte – but long before that they were also spotted on Prince William and Prince Harry following their births.
It’s clearly had a positive impact on the business, too. When Princess Charlotte was born in 2015 and appeared in a GH Hurt & Son shawl, 100,000 people from 183 countries visited the company’s website in less than 24 hours.
In the seven days following Prince Louis’ birth, visitors from 153 nations as diverse as the Maldives, Faroe Islands, Seychelles and Gibraltar visited the online shop, while Americans were particularly interested in response to the firm being named in media coverage across the world.
GH Hurt & Son is currently run by Gillian Taylor, a fourth generation director who runs the business with her father Henry Hurt.
“I’m astounded,” says Gillian. “It is amazing that TRH Duke and Duchess of Cambridge have chosen to use one of our fine lacy knitted shawl for their third baby.
“It’s fantastic for Nottingham and it’s also brilliant for Nottingham knitted lace too.”
Start-rite
Shoemaker Start-rite has been a favourite of the royals for over 60 years. The Norwich-based company launched in 1792 when founder James Smith started his market stall.
Back then it was known as Southalls and was later renamed Start-rite in 1921.
The shop – now run by Peter Lamble, who is the eight generation of the family to run the business – possesses a Royal Warrant granted by the Queen as official supplier to the Windsor children.
It didn’t end there – the royals loved the shoes so much, Start-rite was granted another warrant in 1989 until 2003 as Princess Diana and Prince Charles were said to be fans of the brand.
In December 2014, Prince George was spotted with the shoes in a photo taken of the family – causing the company to receive requests from suppliers across the world.
Little Alice London
After Prince Louis’s birth, Princess Charlotte and Prince George were photographed arriving at the hospital to visit their mother and new brother.
Eagle-eyed viewers Charlotte was dressed in a blue floral dress – a design of children’s clothes store Little Alice London, costing £45.
The company, which is based in London, is the brainchild of Alice Avenel, a friend of Kate’s.
It produces handmade dresses, tops, trousers and more for children and infants. According to the brand, after Princess Charlotte’s appearance, the dress was sold out within 24 hours.
Legoland
In honour of Prince Louis’s arrival, Legoland is giving children and adults named Louis free entry into the Windsor theme park.
The complimentary tickets are on offer from 27 April until 19 July and those with free entry will save £34 – the usual entry free.
The Windsor resort has more than 55 rides, live shows, and attractions. They include the new Miniland Royal, which features Lego recreations of the Duke and Duchess of Cambridge, Prince Louis, Prince George, Princess Charlotte and their family dog Lupo using up to 35,000 Lego bricks.
Betting Companies
Bookmakers are renowned for offering bets on everything from sports to politics – but punters were also given the chance to gamble on the name of Kate and WIlliam’s third-born.
After thousands of Brits bet on the top three names being Arthur, James and Albert, the naming of Louis left companies such as Paddy Power, Betfair and Ladbrokes with millions of pounds up.
Read more like this: