TIPPED TO MAKE MILLIONS
Many believe Meghan could make six figures as her brand gathers momentum.
“She could see success quickly once her store is launched,” says UK brand expert Hayley Knight. “We’ve seen with previous celebrity launches that the demand is incredibly high and products sell quickly.
“I can’t imagine Meghan will make less than six figures within the first few weeks of opening, if not in the first week if the company sells globally.”
She also says it “makes sense” that the duchess launched a lifestyle venture given the success of other celeb brands.
“Meghan wants to place herself among celebrity counterparts,” Knight says. “She also has serious clout among her fans. We’ve seen in the past how everything she wears, promotes and sells, sells out instantly and there are websites dedicated to ‘What Meghan wears’, showcasing her brand power.
“She has incredibly strong instincts when it comes to PR and marketing and wouldn’t have launched this if she didn’t think it was going to work.”
Emily Austin, founder and CEO of award-winning PR agency Emerge, cautions that Meghan would be wise to stick to products “people actually want” – at least in the beginning.
Gwyneth Paltrow has branched into the more “niche” market by offering vaginal steams and Kourtney Kardashian markets candles that “mask cellulite”. Which is all well and good for an established brand, Austin says, and Meghan could well expand her offering if it takes off.
“Celebrity is an enormous driver of short-term success. But it doesn’t guarantee long-term success. Celebrities can earn millions from posting on social media and drive huge sales as a result of their cult following. But in order for Meghan to make money from Instagram she will need an engaged, interested audience with purchasing power.”
There have been celebrity casualties in the lifestyle space. Actress Blake Lively closed her platform, Preserve, after one year because of a lack of sustained interest and Chrissy Teigen’s cookbook and kitchenware collection, Cravings, was dropped by several stockists after controversial tweets she’d made emerged.
Meghan could do very well, experts say, but she will need to keep her audience happy and her nose clean.
‘FOR MEGHAN TO MAKE MONEY FROM INSTAGRAM SHE WILL NEED AN ENGAGED, INTERESTED AUDIENCE’