Expert: Any Association With Royal Family Increases A Brand's Bottom Line
PHILADELPHIA (CBS) -- When Prince Harry and Meghan Markle officially announced their engagement Monday, the world took notice of the new couple and what she was wearing: a white, wrap coat by Canadian label, Line.
It sold out, hours later.
So, what's the value of this kind of endorsement from the soon to be royal?
"This is Superbowl x 100," said Peter Madden, CEO of marketing firm, AgileCat. He says any association with the royal family will increase a brand's bottom line.
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"People buy these products to get closer to the person in some way," said Madden.
He believes the American born actress could have an even greater impact than Kate Middleton.
"Meghan Markle is in some ways, more accessible. She's a divorcee, a mixed race woman," explained Madden.
And she will soon wear a crown.
"It's a princess thing. Everyone wants to marry a prince."
