Brand Finance attributes the estimated $5 billion that tiny Princess Charlotte has contributed to the British economy to the Charlotte Effect.
That effect is particularly felt in the fashion industry since any brand of clothing that the sister of Prince George wears becomes a bestseller, boosting sales of the lucky clothing brand, reports CNN. One such piece of clothing is the $100 shawl the princes wore when her parents, Prince William and Kate Middleton, introduced her to the public.
Gillian Taylor, director at G.H. Hurt & Sons - which made the shawl - confirms, saying, "The $100 shawl is still very popular, we have seen a big increase in orders from all over the world in the last couple of months, thanks to all the media coverage," quotes Thecable.org
Although her brother also has the same effect, being male has its downside since there are less clothing options beyond the shirt and shorts stuff which explains why Brand Finance reckons the third in line to the British throne is worth $3.5 billion to the country's economy.
Brand Finance notes that Princess Charlotte is only 4 months old and had only two public appearances - after her birth and during her christening. Her birth alone generated economic benefits of over $150 million, says David Haigh, CEO of Brand Finance.
But the bigger contributor is the mother of the princess, the Duchess of Cambridge, estimated to have added $7.2 billion to the British economy. Brand Finance estimates the entire royal family is worth $87 billion and add $1.8 billion to the country's economy yearly.
The release of the data is timely since Queen Elizabeth II will become the longest-serving monarch in Britain's history. By Sept. 9, 2015, she would turn 63 years and break the record of Queen Victoria who was in power for 23,226 days 16 hours and 23 minutes.