Parsons x Teen Vogue | Production Costs Assignment

Credit | Parsons and Teen Vogue

This post is for the Parsons x Teen Vogue Certificate, Course Three - Understanding Fashion Production. For this assignment, I have to look at the production costs for an accessory item I made for the last course. It was the ribbon bow bracelet. (shown below.)

Shown on the charts below are the costs to produce the ribbon bow bracelets. 

• The first chart shows the cost of the items purchased from a craft store and the minimum wage in Ontario, Canada. To make one of these bracelets after taking care of the production costs I would profit $4.29 from the retail selling price. 
• The second chart shows the cost of items purchased online and in bulk. It also has the Ontario, Canada minimum wage. For them to be mass produced after taking care of the production costs I would profit $8.59 from the retail selling price.

So, by searching for materials at a lower cost and making more bracelets in an hour I would double my profits per bracelet sold.

One thing I learned from this assignment was what designers and design teams need to take into consideration when finding materials to make their clothes/designs. They need to ask themselves questions like, "Is this sustainable?",  "Is there a way to make this item using less expensive materials so we can profit more?", etc. This assignment really accentuates the importance of the business mindset, that is needed to work in the fashion industry. 

xoxo,

Lisa-Marie

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