Production Costs in Fashion.

Thursday: February 9th, 2017.

Catch up with my previous Greece journal entries to hear my experience with Greece and traveling. Finally today a snow day away from classes to relax and catch up on work and here I am bringing to you a Teen Vogue x Parsons course posts about production costs in the fashion industry.

How to calculate production costs:

"Start by figuring out your costs for the various things you bought. Then, multiply the time it took to you to create the item by the amount you would expect to be paid per hour if you worked in a local clothing retailer. Add your materials cost to your wages to arrive at the production cost. See the grid to the right for our rope belt example. Let’s assume you would like to make a 20% profit when you sell your items. Multiply your production cost by .2 to get your profit amount. Add that to your production cost. This is the amount you would like to get for each item at a minimum." -Teen Vogue X Parsons.

Throw Blanket: 

Soft and Comfy Dot Fabric $8.99/yd

Black Thread $2.69/4yd

.5 hours @ $9 $4.50

Total Production Cost: $15.88

20 % Profit $3.17

Total Cost plus profit: $19.05

Estimated retail price: $20

.95cents more in profit.

I'm not the best at math but followed off of the Teen Vogue Parsons guard to figure it out and I chose a throw blanket which you need about of yard of fabric as well as thread to surge the edges, not long at all with cutting and surging, simple. Which these tend to go for $20 based off softness and quality of blanket, including design. That was my simple math skills in production costs to finish off in my course. In fashion math is included to figure out the cost of supplies you need as well as labor that it is costing you in time and that is how a product goes off to be sold as well as your profit. The price can go up as well for the stores profit off of an item. So basic math skills like this works not just for fashion but for anyone trying to sell any product/merchandise. 

Stay tuned for learning more! about the fashion industry and tips that can help not just fashion majors but anyone!

-Jackie Kensey