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OverviewNewcomers to the fashion industry often base costings on the sum of a style’s fabric, trims and labor—and to that they simply add their markup. However, every other activity of the business erodes that markup, and they find themselves with an unsustainable profit—or a loss. This guide will help you avoid these pitfalls to guarantee a sustainable profit. Apparel Costing details traditional and current costing methods for the fast-paced and e-commerce-focused fashion marketplace. You will learn industry-specific product/style costing that can be applied to garments produced both locally and globally. You'll also learn how to calculate line item percentages on indirect cost factors, such as factory sourcing, overhead, administration and product development. Key topics include: Target Market Pricing; Variable vs Fixed Costs; Direct vs Indirect Cost Factors; Cost-Based vs Value-Based Costing; Domestic vs International Production Costing; Effect of Sourcing on Costing; Sustainability in Costing; Fast Fashion vs. Slow Fashion Full Product DetailsAuthor: Andrea Kennedy (LIM College and Fashiondex, USA) , Andrea Reyes (LIM College, USA) , Francesco Venezia (Fashion Institute of Technology, State University of New York, USA)Publisher: Bloomsbury Publishing PLC Imprint: Bloomsbury Visual Arts Weight: 0.436kg ISBN: 9781350065406ISBN 10: 1350065404 Pages: 160 Publication Date: 23 July 2020 Audience: College/higher education , Tertiary & Higher Education Format: Paperback Publisher's Status: Active Availability: In Print  This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsAcknowledgments Preface Introduction 1. Costing Basics The Role of Costing The Costing Timeline Costing Terms and Vocab Summary 2.Traditional Apparel Costing Introduction First Cost Markup Summary 3. Global Production Sourcing and Costing Introduction Effects of Global Production on Costing International Costing Terms Direct Factory Sourcing Buying Office and Sourcing Agent Fees Freight Forwarding Charges Customs Clearance Fees Duty Summary 4. The Factors of Costing Introduction Direct versus Indirect Cost Factors Fixed versus Variable Costs Case Study: The Costs of Missing Fabric Summary 5. Activity-Based and Product Development Costing Activity-Based Costing Product Development and Sampling Estimating Product Development Costs Product Development Costs Summary 6. Target Market and Private-Label Pricing Identifying Your Target Customer Types of Pricing Competitor Research Target Market Costing Value-Based versus Cost-Based Pricing Private-Label Pricing Private-Label Pricing Has a Competitive Advantage Summary 7. Margins, Markups, and Markdowns Profit Margins Omni-Channel Retailing Discounts Markdowns Chargebacks Markdowns, Discounts, and Chargebacks on the Cost Sheet Recording Profitability Meeting the Customer’s Needs Winning the Profit Game Case Study: Using Existing Styles for Off-Price Divisions Case Study: Amazon Case Study Summary 8. Ways to Cut Costs It Starts with the Sample Watering Down the Line The Cost Is in the Fabric Those Trims and Notions Add up Too Negotiations with Vendors Negotiating and Reducing Costs to Achieve Profit Margin And What about Indirect Cost-Cutting? Case Study: A. Bernadette Summary 9. Costing for Today’s Sustainably Minded Market Blockchain Technology Summary Glossary References Companion Website Resources Sample Cost Sheets IndexReviewsAn essential tool for understanding the intricate methods of costing products, going deeper into key topics such as factory sewing costs with comprehensive SAMs descriptions, markup formulas and costing stages in a multi-channel retail environment. An accessible and concise guide that fuses theoretical concepts with industry application. -- Alphonso McClendon, Program Director for Design & Merchandising, Drexel University, USA An excellent assortment of cost sheets and case studies to inform and direct experiential learning for students. This is one of the first books to address quality of life and responsibility to the planet when costing garments. -- Constance Ulasewicz, Professor in Apparel Design & Merchandising, San Francisco State University, USA An excellent book that explains the importance of understanding costing. -- Robin Sackin, Professor in Fashion Business Management, The Fashion Institute of Technology, USA A must-read for anyone in the business of making fashion. Suitable for students, professors and industry professionals, Apparel Costing is readable and relevant. -- Robert Conrad, Senior Lecturer & Associate Chair, and Nancy Miller, Assistant Professor and Chair, Fashion Merchandising Department, LIM College, USA Author InformationAndrea Kennedy is founder of Fashiondex.com and an Assistant Professor of Fashion Merchandising at LIM College. As a designer, she has worked with many labels, including Bob Mackie, Sunny Leigh, Calvin Klein, and Ann Taylor. Andrea Reyes is an Adjunct Professor at LIM College, The Fashion Institute of Technology, Baruch College, USA. She is also the Chair of the NYC Fair Trade Coalition a network of ethical business owners and advocates as well as co-founder of A. Bernadette, a sustainable lifestyle brand which hosts educational sustainable travel retreats. Francesco Venezia is an Adjunct Professor at The Fashion Institute of Technology, Baruch College of Continuing and Professional Studies and LIM College in New York City. He has worked in the fashion industry merchandising at Ralph Lauren, Calvin Klein Underwear and Luxottica Eyewear. Francesco is also the founder of his own jewelry brand, VITA E LIBERTA. Tab Content 6Author Website:Countries AvailableAll regions |
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