Skip to content
Business Store

Business Store

Us Business

Primary Menu
  • Business Store
  • Advertise Here
  • Contact Us
  • Privacy Policy
  • Sitemap
  • Home
  • Inside the $356 million business of Queen Elizabeth’s Platinum Jubilee
  • business

Inside the $356 million business of Queen Elizabeth’s Platinum Jubilee

By Magenet Magenet 2 months ago


In the United Kingdom, Queen Elizabeth II is celebrating her Platinum Jubilee with parades, gun salutes, and 240 horse marches. Around the world, companies are trying to profit from the excitement with limited edition Platinum Jubilee products: from $5 sandwiches to $75 Barbies to $1,255 Samsung refrigerators emblazoned with the British flag.

[Photo: Mattel]

Commemorative memorabilia is big business. In the U.K. alone, consumers are expected to spend $356 million on Platinum Jubilee goods, according to the Centre for Retail Research; and around the world, that figure will soar even higher. But while anyone can create and sell products that feature Queen Elizabeth II and the Platinum Jubilee, there are complex rules around it.

According to official documents disseminated by the royal family, anyone designing products around the Platinum Jubilee must abide by certain guidelines. For instance, they must use the correct version of the Jubilee emblem and the Royal Arms; images of the Queen can be used as long as the photographer is paid; and the Queen’s official monogram (known as her cypher) cannot be used on T-shirts and tea towels. The guidelines make it clear that it’s a “privilege” to be able to create products featuring the royal family and that they must be “in good taste” and “carry no implication of Royal . . . approval.”

Related Posts:

  • SWVL COMPLETES BUSINESS COMBINATION WITH QUEEN'S GAMBIT GROWTH CAPITAL

[Screenshot: Halcyon Days]

According to William H. Honaker, an attorney with three decades of experience in patents and trademarks, these laws are unlike the way that other companies—or indeed other heads of state—control the use of their name, image, or trademarks. “It’s as if the royal family is giving businesses the gift of being able to generate revenue from this celebration,” he says. “Anybody can create products with these emblems and sell them, as long as they abide by the trademark law.”

Honaker says these laws apply to the United Kingdom but aren’t enforced on companies that operate overseas. No matter where the products originate, he says it would be very hard to enforce these rules given the volume of products flooding the market. “It is very difficult to police the products coming out around the world,” says Honaker. The rules governing the use of royal emblems is relatively lenient, he says, but when it comes to the Jubilee, the royal family seems to be offering even more freedom around the creation of these products.

Brands are certainly taking advantage of this, creating countless limited-edition products for the Jubilee. In the U.K., the London-based retailer Marks & Spencer has a whole line of Platinum Jubilee items, including a sandwich featuring a sliced hard-boiled egg that was widely mocked online. On Amazon, there are thousands of memorabilia items from cushions to tote bags to bobbleheads of the queen. Global brands, including Mattel and Samsung, are also capitalizing on the celebration with their own limited-edition products. “Brands that I have purchased from in the past are sending me emails about their Platinum Jubilee products for sale,” says Mona Moufahim, associate professor in marketing and retail at the University of Stirling in Scotland. “Everybody is trying to cash in.”

[Photo: Samsung]

The royal family doesn’t profit directly from the sale of these goods, but Moufahim notes that these products—even the kitschy, tacky ones—can generate a lot of goodwill. “It contributes positively to the royal family because it makes their brand part of pop culture,” she says. “Some of these products are silly and a bit weird, but they still contribute to making the royal family iconic in the cultural and political landscape of Britain.”

And if companies want to take it a step further, they can apply for a royal warrant, whereby the royal family gives its seal of approval—quite literally, since products are stamped with a seal that says, “By appointment to HM The Queen.” These companies must pay an undisclosed licensing fee, which goes to the Royal Collection Trust, a fund that supports charities chosen by the royal family. One such company, Halcyon Days, has issued a collection of 30 products for the Jubilee, including $1,200 enamel boxes featuring photos of the queen at her 1953 coronation and a $2,750 music box featuring pictures of four royal residences. “Official memorabilia is tightly controlled,” says Moufahim. “These items are actually presented and approved by the queen, which makes them much more valuable.” There are around 800 companies that have royal warrants; to qualify they have to go through a rigorous vetting process, including meeting the palace’s sustainability standards.

One interesting quirk of the trademark law, Honaker says, is that brands are allowed to use images, emblems, and terminology related to the Platinum Jubilee on their products, but they can’t use them in their advertising and marketing. A manufacturer can advertise a limited edition Platinum Jubilee car but can’t advertise it as the “Platinum Jubilee of cars.” In other words, a company is only allowed to create products that celebrate and draw attention to the royal family, not use the royal family’s popularity to enhance its own brand.

That said, the royal family has been embroiled in scandals in recent years that have diminished its popularity, including Harry and Meghan‘s tell-all interview with Oprah and allegations about Prince Andrew‘s inappropriate relationships with underage girls. Moufahim says this Jubilee is an opportunity to refocus the world’s attention squarely on the queen, who has remained consistently popular over the past decade. Recent data show that 81% of British people have a favorable opinion of her. “The scandals have had an impact,” Moufahim says. “But the queen’s popularity is through the roof, and this Jubilee is an opportunity to lean into that.”

Even if that means seeing her face on a Jubilee Barbie.





Source link

Tags: "Ca Business Search, Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login", Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login

Continue Reading

Previous How the Media Business Changed During the Pandemic—and 4 Stocks to Play It
Next Euro Zone May Business Growth Robust but Outlook Darkens -PMI | Investing News

Recent Posts

  • Baltimore Black Business Quest showcases local Black-owned businesses, helps nonprofits
  • 5 Tips on How to Make Money From Your Blog
  • Ppp Loans Small Business
  • Workers at UK’s Felixstowe container port to strike for eight days
  • The New Driver Of Transformation

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • November 2018
  • October 2018
  • December 2016

Categories

  • business
  • business
  • business & finance
  • Business Store
  • finance
  • general

visit now

business lawyer near me
Intellifluence Trusted Blogger

backlinks

textlinks

bestwindshieldwipers2019.xyz © All rights reserved. | Magazine 7 by AF themes.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT