{"id":7880,"date":"2024-09-07T06:36:38","date_gmt":"2024-09-07T06:36:38","guid":{"rendered":"https:\/\/amnewsworld.com\/?p=7880"},"modified":"2024-09-07T06:36:38","modified_gmt":"2024-09-07T06:36:38","slug":"how-meghan-markle-leverages-her-brand-power","status":"publish","type":"post","link":"https:\/\/www.amnewsworld.com\/fi\/how-meghan-markle-leverages-her-brand-power\/","title":{"rendered":"How Meghan Markle leverages her Brand Power"},"content":{"rendered":"
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Among many other things, Meghan Markle is a successful entrepreneur and investor.\u00a0That success flowed — in part — from her role in the popular\u00a0Suits<\/em>\u00a0TV series and the attention she has attracted as the Duchess of Sussex. Since March 2021, around the time when she and Harry were cut off from the British Royal payroll, their net worth has increased from $50 million to $60 million, according to\u00a0Celebrity Net Worth<\/em><\/a>.<\/p>\n<\/div>\n

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A large portion of that success is due to the couple’s content deal with Netflix — where I enjoyed watching\u00a0Suits<\/em>\u00a0for the first time.<\/p>\n<\/div>\n

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Valued at between $50 million and $100 million, the Netflix contract includes several shows including one she curated that “celebrates the joys of cooking, gardening, entertaining, and friendship,” and another that “offers unprecedented access to the world of professional polo, shot primarily at the US Open Polo Championship in Wellington, Florida,” reported\u00a0Cosmopolitan<\/em><\/a>. She also has an $18 million podcast deal with Spotify, noted\u00a0Cosmopolitan<\/em>.<\/p>\n<\/div>\n

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The way Markle selects the companies she puts in her portfolio and adds to their value offers lessons for business leaders. Here are three of them.<\/p>\n<\/div>\n

\n

<\/h3>\n

Know what you value.<\/h3>\n<\/div>\n
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Before making an investment or starting a company, know what is most important to you. Without clearly defined passions, you will not be able to sustain the energy and focus required to turn an idea into a successful company.<\/p>\n<\/div>\n

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Markle seems to have a passion for handbags, as do many of her followers. She realized the world was paying attention to her clothing choices in 2017 following her engagement to Harry. She wore a handbag from Strathberry for a public appearance with him — which sold out online in a mere 11 minutes thereafter, the\u00a0Times<\/em>\u00a0reported.<\/p>\n<\/div>\n

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When Markle learned about how she helped boost the handbag’s sales — and how Strathberry boosted its workforce to meet the increased demand she caused — the success changed her perspective.<\/p>\n<\/div>\n

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“Times where I know there is a global spotlight, and attention will be given to each detail of what I may or may not be wearing, then I support designers that I have really great friendships with, and smaller, up-and-coming brands that haven’t gotten the attention that they should be getting,” she told the\u00a0Times<\/em>. “That’s one of the most powerful things that I’m able to do, and that’s simply wearing, like, an earring.”<\/p>\n<\/div>\n

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<\/h3>\n

Invest in companies that make what you like.<\/h3>\n<\/div>\n
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Once you can clearly articulate what you are passionate about, search for products and companies that align with that passion.<\/p>\n<\/div>\n

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For Markle, that search process began with focused Googling. “When people are online looking for things or reading things, I’m trying to find great new designers, especially in different territories,” she told the\u00a0Times<\/em>.<\/p>\n<\/div>\n

For instance, she became “a minority stakeholder in Cesta Collective, which specializes in handwoven bags,” the <\/span>Times\u00a0<\/em>reported<\/span><\/div>\n
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Promote your investments on social media.<\/span><\/p>\n<\/div>\n

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Once you invest, you must take action to boost the value of that investment.<\/p>\n<\/div>\n

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In Markle’s case, the power of her social media presence benefited Cesta before she became an investor. I am guessing that power will continue to boost Cesta’s value now that she owns part of the company.<\/p>\n<\/div>\n

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 <\/p>\n

In May 2023, Markle wore a Cesta bag to a dinner date she and her husband had with Cameron Diaz, Gwyneth Paltrow, and their spouses. Following the dinner, photos of her and the Cesta bag spread on social media. Cesta’s founders, Erin Ryder and Courtney Weinblatt Fasciano, said the photos spurred “an almost immediate uptick in interest,” reported the\u00a0Times<\/em>.<\/p>\n<\/div>\n

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 <\/p>\n

Ryder was flying to Mexico. After deplaning, she noticed one bag style was suddenly out of stock. The founders investigated the cause of the sudden demand and discovered Markle was the cause. They sent Markle a thank you note, developed a relationship with her, and she invested in the company, the\u00a0Times<\/em>\u00a0wrote.<\/p>\n<\/div>\n

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Ryder and Fasciano hope Markle will help them expand their bag business, create other product categories, and “begin working with female artisans in other developing countries,” according to the\u00a0Times<\/em>.<\/p>\n<\/div>\n

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The takeaway? If you are blessed with a special power that can drive growth — such as marketing or product design team up with partners so your team can create value for customers, employees, and investors.<\/p>\n<\/div>\n

 <\/p>\n

AMN | Reporters | Article by Peter Cohan<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

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