Procter & Gamble’s right royal celebrity folly

Procter & Gamble wants the Sussexes to be its shield against the woke, but they are a costly distraction from real issues, says Matthew Lynn.

Harry and Meghan Mountbatten-Windsor, AKA the "Duke & Duchess of Sussex"
The royal-ish couple has little to offer
(Image credit: © Alamy)

Soaring commodity prices. A once-in-a-generation shift to online shopping. New hipster competitors and staff who want to permanently work from home. The consumer-goods giant Procter & Gamble (P&G) has plenty of problems to contend with. But hey, not to worry: Harry and Meghan, the Duke and Duchess of Sussex, are here to help. The company last week agreed a long-term deal that will see the Sussexes advise the conglomerate on issues such as gender equality, inclusiveness and resilience.

Really? It is very hard to believe that the royal-ish couple have any real insight to offer. In truth, the history of celebrities getting involved in businesses is very poor. From Jamie Oliver’s role as a brand ambassador for Sainsbury’s to Johnny Depp’s publishing imprint for HarperCollins, the results have tended to be at best, mildly disappointing, and rarely worth the effort and time. The only people who will be celebrating Harry and Meghan’s latest gig will be shareholders at Unilever and Nestlé, P&G’s great rivals.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.