Reiss Doubles Profits Thanks to ‘Duchess Effect’
We already knew that anything worn by the Duchess of Cambridge becomes an instant sellout. But Reiss—one of the royal beauty’s favorite retailers—has the numbers prove it.
The British high street brand has nearly doubled its profits in the last year, the Daily Mail reports, thanks to the phenomenon it’s dubbed “the Duchess effect.”
Reiss’ operating profits have reportedly risen from £4.3 million to £8.5 million (about $6.6 million to $13.2 million, at current exchange rates), according to accounts filed at Companies House in the U.K.
Sales also jumped from £77.7 million to £87.6 million ($120.3 million to $135.6 million), and pre-tax losses of £2.1 million ($3.3 million) were converted to a profit of £3.64 million ($5.6 million).
The Reiss Nannette dress that Kate Middleton wore in her official engagement photo sold out within 24 hours of its reissue, while the Shola bandage dress she wore to meet the Obamas in May and the Peacock dress she wore to the Epsom Derby in June were also gone in the blink of an eye.
In related news, the Duchess of Cambridge has been named the top beauty icon of 2011.
