Prince Harry close to signing multi-million dollar endorsement deal …

Prince Harry may soon join the likes of Robert Pattinson and Charlize Theron as an ambassador for the French luxury fashion house Dior. Last week, the Prince was spotted attending a London court wearing a Dior shirt, sparking rumours Harry may have recently signed an endorsement deal with the luxury brand. "There are of course some occasions when smarter clothing is required, and a suit was a natural choice for Harry's court appearance, but opting for super brand Dior was a sartorial curveball for Harry," fashion insider Miranda Holder told Newsweek on Friday.

"It is highly likely that the Sussexes have an arrangement with Dior; it would be a highly convenient passive income for Harry and Meghan who make ideal ambassadors for the brand," she added. Although no senior Royal has ever signed a commercial endorsement deal, several extended family members have used their royal connections to represent luxury brands. Currently, Harry's cousin Lady Kitty Spencer serves as a global brand ambassador for both Bulgari and Dolce and Gabbana.

Lady Spencer was chosen by Domenico Dolce and Stefano Gabbana personally after being dressed by the brand to attend Harry's wedding to Meghan Markle in 2018. The socialite has since appeared in advertising campaigns and walked the runway for the Italian luxury brand. The first royal to ever sign a luxury endorsement was Lady Helen Taylor, the daughter of Elizabeth II's cousins the Duke and Duchess of Kent.

Lady Taylor signed on as a brand ambassador for Giorgio Armani in 1992 and represented the company for 17 years until 2009. The primary reason luxury brands seek out royal relatives is to capitalise on their social prestige to market expensive products to the public. Certain royal family members can also effectively set fashion trends and make items popular.

For example, Kate Middleton's singular ability to cause almost anything she wears to sell out has been dubbed the "Kate effect". Perhaps the earliest pioneer of this trend was the late Princess Diana, whose fashion influence continues to inspire designers to this day. If Prince Harry does sign on with Dior, he will join his late mother in becoming part of the company's brand identity.

In 1996, Princess Diana famously attended the Met Gala in New York wearing Dior and a new handbag which was soon dubbed the "Lady Dior" in her honour.

Dior is currently owned by the French conglomerate LVMH, the same company which owns brands like Louis Vuitton, Fendi and Tiffany & Co.

LVMH chairman and CEO Bernard Arnault is currently the wealthiest person in the world, with an estimated net worth of (USD) £208.1 billion as of March 2023.