The Queen’s Bra-Maker Is Having Financial Woes

Generally, being the official provider of some product to someone who wears a crown can only boost your business, but these days that’s not the case for Queen Elizabeth II’s go-to place for underwear, Rigby and Peller.

The company, which has held the warrant to provide the United Kingdom’s monarch with intimates and unmentionables since 1960, also counts Gwyneth Paltrow, Lady Gaga and Scarlett Johannson among it’s clients. It’s known for its near-legendary service — The Independent writes that getting a bra fitted at one of its many shops used to be considered a rite of passage.

It’s also considered expensive, and with similar services offered at more accessible retailers, Rigby and Peller is felling the pressure of competition:

A consumer looking for a budget purchase may now pick up a bra at any high-street chain for £10. Department stores too offer a huge range of merchandise, as do upmarket retailers such as Myla and La Perla.

Add that trend to rapid expansion since the company came under new ownership in the early 80s, and you’ve already got a serious drain on a struggling business. In fact, “according to its latest annual accounts, the company made a loss of £214,000 last year, compared with a pre-tax profit of £168,000 the year before.”

So why is the well-pedigreed shop is having trouble? Now that the world’s economy is getting back on its feet, buyers are noticing that women are willing to invest a little more in great quality underwear. While Rigby and Peller has that to spare (it even stocks up to size M) it’s been difficult for the independent retailer to keep up with big-box chains and flashy luxury labels.

Call it a sign of the times, but maybe catering to the Queen hasn’t been so beneficial thing, after all.