I'm taking online classes with Parsons, and for an assignment we had to take a previous accessory that we had designed and pretend that we were preparing for production costs.
I had designed a leather bracelet with lobster claw closure,chain extender and for some reason I stuck a safety pin on top.
To start the project, you had to list all the materials used and find the cost for them. So my list is:
- One yard of leather $9.62
- Pack of lobster claw closures $2.99
- Pack of jump rings $2.99
- Packs of bracelet chain extenders $7.98
1 Hour worked @ $10 an hour $10Total Production Cost $33.49
20% Profit $ 6.70
Total cost plus profit $40.19
Estimated retail price $39.95
Honestly, I would never buy a bracelet that was $39.95. I know some people who drop that money and keep it moving. If I were to pitch my design to a retailer like ZARA, Urban Outfitters, and Top Shop; It would be justified. If I were to pitch my design to Forver 21, I would get laughed at.
I learned a lot about production when I worked with Monif C. I was a temporary production assistant. The Production manager taught me so much when I was there, so this assignment really reinforced what I had learned. He taught me the importance of product quality, how to take inventory of materials so that we didn't over order materials for a new production. It was an experience that I would appreciate for my future