Duchy Originals – A License to Print Money Unless Your Mum Already Does

HRH Prince Charles started Duchy Originals, a range of wholesome organic products, as a way of generating funds for his charity, The Prince’s Trust. The charity supports disadvantaged young entrepreneurs and is a really worthy cause. Britain needs entrepreneurs and the Trust provides seed capital and mentorship to kids who, having grown up on the wrong side of the track, would otherwise never be given a chance. It gets corporate and private sponsorship but the Prince thought it would be a good idea to create an annuity income from one of his entrepreneurial ideas.

Charles has always been convinced that original is better and environmentally friendly is essential. He prefers old style architecture and any ‘back to nature’ way of producing food. Since he feels he represents British values at their best (so I was once told by someone in his entourage) he believes that deep down we all want to be like him. So when, on his Highgrove Estate,  he came across a nice biscuit made with organic ingredients to an old fashioned recipe or bacon from free range organic pigs he reckoned, given the chance, we’d all like to pay a premium for these foods. He founded Duchy Originals – or at least he had some of his people do it – and launched a range of products the best of which, in my opinion, were the biscuits and the bacon.

He put some professional managers in charge and for a while it did OK – it got to 4 million plus turnover at its best and the charity received some annual dividends. Charles was known to boast playfully that he was “a self-made millionaire” on the back of the success of his business start up. So far so good.

I met people who worked at Duchy Originals and while they tried to be discrete it was pretty clear that the business significantly under-performed because, allegedly, HRH could not stop meddling and forced on them whatever latest crackpot idea he had come up with. If he happened upon some tasty Lemon Curd or sturdy Garden Sheds, he insisted these be added to the range irrespective of whatever carefully laid business plan they were working to. Worse still he also foisted on them whichever business or marketing expert he happened to meet who showed any interest in Duchy Originals (which you would, wouldn’t you, if you met HRH and were trying to make conversation).

Nevertheless, some might say that he deserves full credit for founding the charity and having the gumption to start a business that he believed in, and that would provide some extra funds. Yes, but…… What Duchy Originals is, in effect, is a commercial application of the Royal Warrant, the special seal of approval the Queen bestows on any product she uses personally. The Royal Warrant is strictly non-commercial – if the Queen happens to patronize your brand of Waxed Shooting Jacket or Umbrella or biscuit you can apply for a Royal Warrant. If it is awarded you may feature this in your advertising or on your product but there are strict rules as to how this is done and no money changes hands. You only have to look at what the Duchess of York pocketed for her full blown endorsement of Weight Watchers (genius move on their part by the way) to see how much the Royal Warrant could be worth if you could really exploit it. Ditto Duchy Originals. How much money could you make – especially in the USA and Asia – if you could launch a company with a range of products under the HRH Prince Charles Brand? Hundreds of millions, billions even if it was well managed.

How high did HRH drive the revenues– 4 million quid at best, and this slumped last year to half that and a loss of 3.3 million pounds. So he has licensed Duchy Original to Waitrose – the upmarket grocery store that are the most enthusiastic stockists of the Duchy range – in return for a guaranteed donation to the trust of 1 million per year. Waitrose will do well with Duchy Originals and one assumes at last it will get the less fettered professional management and development of the brand it deserves, but one can’t help feeling Duchy Originals could have been a license to print money for a very worthy charity.
Mind you, if you are the heir to the throne that does print the money there are probably easier and ways to generate extra funds for the Prince’s Trust than selling biscuits one happens to enjoy with one’s tea.

God Bless him, Prince Charles is the best weapon we British republicans have.

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