Seven companies granted royal warrants from the Queen - so how much could their price premium be?

Seven companies have been granted the first royal warrants from the Queen - as a brand expert told Sky News the special status could allow them to charge a price premium for their products.

Among them are the luxury department store Fortnum & Mason, Cornwall-based sparkling wine producer Camel Valley and Shane Connolly & Company, which was the florist for Camilla and the then Prince Charles's wedding in 2005 as well as their Westminster Abbey coronation last May.

The organisations also include wine merchants Corney & Barrow, chemists DR Harris & Co, stationery and office equipment supplier Frank Smythson and jewellers Wartski.

The seven have also received the accolade from the King.

Companies which hold a royal warrant are recognised for providing goods or services to the monarchy.

And they are allowed to use the coat of arms of the royal they are associated with on packaging, as part of advertising or on stationery.

Brand finance expert David Haigh told Sky News that having a royal warrant allows firms to charge a price premium.

He said his company's research estimated this to be "between 10% and 25%".

A royal warrant "says it's luxurious. It says it's high quality. It says it's sustainable", according to Mr Haigh.

He estimates the scheme is "worth billions to UK companies and… therefore it's a very high value to the UK economy".

"And one of the reasons for that is that a lot of foreign tourists and buyers have a preference for royal warrant holder products. We found that 100% of Chinese buyers would pay in excess of 10% for a royal warrant holder product."

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Winemaker Sam Lindo, from Camel Valley, told Sky News: "It's a real honour to have a royal warrant from both the King and the Queen. We are just so proud, and over the years Camilla has given us a tremendous amount of support and encouragement. And now she's the Queen and we have a royal warrant, it's just amazing."

The Buckingham Palace announcement follows a review of companies granted royal warrants by the monarch when he was the Prince of Wales.

Some 138 firms were again given the special status now he is King, and another seven were named as holders by him and his wife.

Among those who have retained warrant status are luxury jewellers Cartier, Garrard & Co and Mappin & Webb, champagne producer Laurent-Perrier, whisky distiller D Johnston & Co and high-end supermarket Waitrose.

Also in the group are fashion house Burberry, Saville Row tailors Anderson and Sheppard and Gieves and Hawkes, shirt makers Turnbull & Asser and car manufacturers Aston Martin Lagonda, Bentley, Audi and Jaguar Land Rover.

Tom Athron, chief executive of Fortnum & Mason, said the company was "honoured" to have been granted warrants as grocers and tea and provision merchants by the King and Queen.

He added: "We are particularly thrilled to have received these grants because of what we believe the warrants stand for.

"To receive a royal warrant in 2024 requires a rigorous focus on acting for a sustainable future, supporting the country's rural and farming communities and protecting the arts and heritage crafts."