Royal wedding to generate £150m boost for fashion retailers
Prince Harry and Meghan Markle's wedding will translate into booming fashion and footwear sales for UK retailers, as consumers try to emulate her personal style, according to new research.
The event, due to take place on May 19 in a ceremony at Windsor Castle, is expected to generate an extra £150 million of revenue for British footwear and clothing retailers, revealed industry research firm IbisWorld this week.
This will account for 26.7% of the retail sales expected to take place ahead of the Royal wedding. In total, UK consumers are expected to spend £561 million, with commemorative objects expected to generate the largest revenue at £205 million.
Anticipation is also building over the dress Markle will wear for her wedding, with royal wedding fans everywhere speculating on who will design her wedding dress. Stella McCartney, Erdem, Ralph & Russo, Roland Mouret and Burberry are some of the names being tipped for the post.
The Meghan Markle effect has already proved its pull, with several fashion brands seeing items worn by the American actress sell out within minutes, such as the M&S jumper she wore during a visit to a Brixton radio station and a J. Crew coat she wore on International Women’s Day.
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