Photo: Instagram/@sussexroyal
On June 21, the Duke and Duchess of Sussex filed the trademark for “Sussex Royal the Foundation of the Duke and Duchess of Sussex” with the U.K.’s Intellectual Property Office. They secured rights to printed matters like books, magazines, and newspapers. They secured rights to charities and fundraising. They secured rights to clothing. So much clothing—footwear, headgear, dresses, pajamas, suits, sweatshirts, hooded tops, hats, bandanas, headbands, socks, scarves, gloves, sportswear, and anoraks (that’s a jacket without a full zipper).
When the filing became public in December, it didn’t attract much attention. News had already broken back in March that Harry and Meghan were splitting their household from William and Kate, after previously operating as a joint enterprise. And on June 20, the couple announced they were starting their own foundation. So trademarking “Sussex Royal” was an essential business move. Not, necessarily, because they wanted to sell Sussex Royal anoraks—but so no one else could.
But on
January 8 came the bombshell: “We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent,” the Sussexes announced to the world. The royals would resign as full-time public servants, meaning the sale of those anoraks would suddenly be on the table. (Although perhaps only in the U.K.—four days after the announcement, a Quebec-based company filed a
trademark for “Sussex Royal” clothing items as well as alcoholic and alcoholic-free beverages in Canada.)
Which, fine. Anoraks are likely low on their money-making list, anyhow. But the question remains: how, exactly, do the Sussexes plan to earn a living. It’s a point of much contention, confusion, and speculation because no one else in House Windsor has really figured it out. King Edward VIII—the last person to “quit” the royal family—eked out an income by writing books and receiving payments from his brother. He tried to get a public-sector job back in England, but failed (because (a) having a former king and a current king in the same country could likely cause disorder, the government figured, and (b) his Nazi ties were said to be problematic). Meanwhile, a private-industry gig was at odds with the monarchy’s image.
The queen’s son, Prince Edward, and his wife, Sophie, Countess of Wessex, have struggled to balance their professional and royal roles: Edward’s production company shuttered after being plagued with conflict-of-interest accusations. Sophie’s public relations firm received similar criticism, especially after a News of the World sting exposed such a scandal and got the countess on tape making critical comments about Tony Blair, Gordon Blair, and Prince Charles. The queen’s grandchildren, Princess Beatrice and Princess Eugenie have full-time jobs, but they’re non-working royals.
So what jobs can the Sussexes pursue in order to earn money while still keeping the royal family’s respect?
One frequently touted idea is the paid-speaker circuit. It’s a natural path for the high-profile, do-gooder couple, who routinely give speeches during official appearances. And a lucrative one too: Former public figure turned private citizen Barack Obama, for example, made USD 400,000 at a 2017 event, while Bill and Hillary Clinton made a combined USD 153 million in speaking fees between 2001 and 2015. Theresa Beenken, CEO of Global Speakers Agency, says the royals’ orator expertise is in high demand: “Prince Harry and Meghan Markle would certainly have speaking-engagement appeal as they built a compelling platform with a popular following, and a reputation for speaking passionately about inclusion, mental health, gender equity, education, and more,” she tells Vogue.
How much is that reputation worth, exactly?
“I would expect their fees would be in the six figures,” she says.
This weekend, a clip of Prince Harry talking to Disney CEO Bob Iger went viral. In it, Harry told Iger that the Duchess of Sussex was interested in voiceover work. The Times of London reported that the Duchess did indeed sign a deal with Disney in return for a donation to Elephants Without Borders. Although it seems no profit was netted, it could foreshadow future Hollywood gigs for Markle, a former successful actor. Prince Harry, too, may wade into show business: he’s currently co-creating an Apple TV+ docuseries on mental health with Oprah Winfrey. Perhaps a production company, focusing on projects that make a difference, will be a source of palace-tolerated income.
Another untapped source of wealth? Their Instagram, @sussexroyal. There, the couple has over 10.5 million followers. Loyal ones, at that. While a typical Instagram account has an engagement rate of about 2%, @sussexroyal’s is 10.54%, according to Socialfly, a New York-based social media marketing agency. It’s an impressive rate considering their content is, well, a bit dry, and mostly consists of professional stock photos—a norm among the royal family. However, the couple has expressed interest in taking a modern social media approach, and a more candid style à la Markle’s now-deleted personal Instagram will only grow their brand power. “If Prince Harry and Meghan Markle take more ownership of their Instagram account, they will drive more followers and engagement,” Stephanie Cartin, co-CEO of Socialfly, tells Vogue. “She has a great aesthetic.”
Cartin estimates that, if the couple ever decided to do a sponsored Instagram post, they could command anywhere from USD 500,000 to USD 1 million.
Lest you forget, Markle once had her own blog, The Tig, and recently released a capsule collection with Misha Nonoo. With all those clothing trademarks, could she launch a lifestyle brand, or perhaps a company with a mandate for social responsibility, like Toms? Mike Nolan, global CEO and founder of Product of the Year, a survey company that chronicles consumer buying trends, calls the Duke and Duchess’s brand “amazingly strong, especially with younger people.” He doesn’t see it dimming any time soon. But the Sussex, England–born CEO does worry about repercussions down the line if they aren’t careful with their choices: “Ongoing the brand may suffer if they try to exploit it. The reason the royal family is so respected is its committed support of others—our country as a whole, national and international charities, and perhaps most importantly, the U.K. armed forces,” he says. “The royal family is based on service, on the idea that they serve the people, albeit from a position of extreme privilege. If any part of that family uses that privileged position to serve themselves, ultimately they will diminish both the institution of the monarchy and, longer-term, themselves.”
In a statement about the Sussexes’ decision to live and work abroad, the queen has said, “these are complex matters for my family to resolve.” If they do come to an agreement over what it means to be a part-time servant of the crown, the royal family will have a new first: a for-profit prince who’s approved by the palace.
Originally published on Vogue.com
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