The move is also a historically significant one, as Kate will become the first Princess of Wales to grant royal warrants in 115 years—Mary of Teck was the last Princess of Wales to have the honor in 1910.

Prince William and Princess Kate will be able to issue their first royal warrants next year, with the first companies to be considered making their applications by the end of this month. This news comes as it has emerged that the royal couple have been appointed grantors of royal grants of appointment by King Charles, it has been confirmed.

Kate Middleton and Prince William have been granted a new royal role, and Kate is the first princess of Wales in more than 100 years to be given the honour. The new royal power will make the couple even more highly sought after by UK businesses for one key reason.