NEW YORK, Aug 15 — The Pantone Colour Institute has announced a new shade of purple in honour of Prince.

The new hue, developed with the Purple One’s estate, is called Love Symbol #2, after the singer’s stage name in the 1990s.

In a statement, Pantone said it wanted to honour the music legend with his signature shade, and that Love Symbol #2 was "inspired by his custom-made Yamaha purple piano.”

"We are honoured to have worked on the development of Love Symbol #2, a distinctive new purple shade created in memory of Prince, ‘the purple one’,” said Laurie Pressman, the vice-president of the Pantone Color Institute.

"A musical icon known for his artistic brilliance, Love Symbol #2 is emblematic of Prince’s distinctive style. Long associated with the purple family, Love Symbol #2 enables Prince’s unique purple shade to be consistently replicated and maintain the same iconic status as the man himself.”

Prince died in 2016 at the age of 57 from an accidental fentanyl overdose.