I’m not sure how closely you follow the British Royal family. Growing up in New Zealand where the Queen is still the official head of state, our newspapers and magazines were always filled with the latest royal developments – and gossip.
With Queen Elizabeth’s recent passing, it’s been interesting to see how even in America, her life and legacy has been celebrated. From flags being flown at half mast and digital billboards paying their respects, to a special Netflix channel just dedicated to documentaries about her life and TikTok ablaze with remembrance montages, it seems Americans – and the rest of the world are also feeling her loss.
Similarly, if you walk the streets of London, you’ll be inundated with stores in deep mourning, shrouded in black, selling special-commemorative-edition everything from stuffed bears to shortbread tins and fluffy slippers bearing images of not just Queen Elizabeth, but all members of the royal family, including the newly crowned (and controversial) King and Queen.
In every sense the royal family, is a global brand and a global business.
According to Business Insider, the royal family contributes nearly $2.4 billion to the UK economy every year, the majority of the money created by the royal family is through tourism, and the royal brand is worth a total of $89.3 billion – making it one of the world’s most valuable.
Like any global brand – for example Nike, Louis Vuitton or even Apple, the British Royal family (brand) has had its fair share of ups and downs.
Every royal misstep and scandal is beamed instantly around the world – from Prince Andrew’s friendship with Jeffrey Epstein, to Megan Markle and Harry’s mass exodus to America, to Prince Charles (now King) marrying his mistress, Camilla (now Queen), the “third woman” in his marriage with Princess Diana.
You can’t make this stuff up. No wonder the royals continue to captivate and intrigue.
But with the Queen’s departure to the pearly gates, the British royal family and the monarchy is attack. King Charles and his Queen are far from popular.
Will the British royal family and their power brand survive through these modern times?
If history is anything to go by, somehow the British Royal family endures every scandal and their brand still manages to thrive despite it.
It’s a great lesson for all of us on how to build a resilient brand in fast-changing times.
Let me break it down.
