CTE 2800 FINAL STUDY GUIDECOSTING2 Types of CostingPre costing (initial cost)Final costing = Manufacturerʼs Cost (total, real)Direct costs= materials, labor, otherIndirect costs = design, merchandising, salaries,administration, rent, ins, etc.Retailerʼs Cost= Manufacturerʼs (Whlse) costRetail (consumerʼs) price = Cost + markupUsually cost is about ½ retail (keystone)(Retail math concept to set retail price)BEAUTY, SPA AND WELLNESS-Cosmetics, fragrances, hair and skin, spas, and centers-Mass and prestige(DIFFERENT CAREER OPPORTUNITIES)-Research-Product DevelopmentMerchandising/Marketing Positions in BSWAccount rep/coordinator-Involved with special events,-promotions, traveling to sitesSales/account executive-Sells products to retailers-manages the accounts (inventory)-merchandisesPublic relations account executive-Works with media contacts, promotesRetail counter, line management-Sell, manages, coordinates events and promotions-works with peopleWellness -Massages, facials, fitness, nutrition centers, spas#Esthetics-Makeovers and beauty-enhancementFASHION DESIGNERS** List of Historic Designers (information from Miler scans)Jean Philippe Worth Paul PoiretMadeleine VoinnetJean PatouElsa SchiaparelliMainbocherCristobal BalenciagaHubert De GivenchyEmanuel UngaroRose Bertin- dressmaker to Marie AntoinetteLe Roy- Napoleanʼs court dressmaker (Creater of Empire style)Worldʼs First Haute Couture House-Worth & BoberghCustom- do made-to-order fashions for individual clientsDesigner/Bridge- create upscale seasonal collections with top-quality materials and workmanshipMass Production- design ready-to-wear lines made in standard sizes for retail selling to consumersStylists- do knock-off copies for mass production by adapting popular styles to lower quality and price levels.Freelance- work on a private basis for several manufacturers or sell sketches of designs to manufacturers for their lines.Designer Top 101. Calvin Klein2. Tommy Hilfiger3. Ralph Lauren4. Gucci5. Vera Wang6. DKNY7. Louis Vuitton8. Chanel9. Dolce & Gabbana10. Giorgio ArmaniCAREER OPPS VENDOR/WHLSEVendor-resource-manufacturer-Product to distribution-International/global industryOrganization-set up as any other business with officers, divisions, departments, and staffTop ExecutivesVICE PRESIDENT OF WHOLESALE SALES-Develops the strategies, leads staffs, controls budgets and has overall sales responsibilities.NATIONAL SALES MANAGER-Manages sales, orders, distribution for a family of business (EXS Girls - BCBG)MANAGER OF INTERNATIONAL LOGISTICS-Responsible for foreign accounts, responsible for trade issues.Sales ExecutivesACCOUNT EXECUTIVE-SOURCES AND MEETS WITH ACCOUNTS AND NEW ACCOUNTS)EXECUTIVE SALES ASSISTANT-SCHEDULES APPOINTMENTS, BOOKINGS, RESPONSIBLE FOR LINE ADDITIONS AND CANCELLATIONS)Vendor Selling StaffSales Representatives (Given a territory (region))2 MAJOR TYPES OF REPSCorporate/Company – on their payroll-In house/showroom -Traveling Independent – paid on a commission basisCustomer Service RepresentativeSales Reps-analyze selling, tracks delivery, takes orders, works with retail buyers (communicate and visit buyers, attend markets) may have showroom responsibilities also.SHOWROOM REP-Responsible for merchandising maintenance and imagePrepare for business (market week & appointments). Know current lines, clientele and have strong selling skillsPrepare for appointments (Merchandising)Review selling history and various buying traitsAssure purchase orders are set up along with look books, line books, swatches, etc.Review deliveries, and follow and check for reordersKnow sales goals, usually commission statusMonitor deliveriesMarketing/ Promotion/Publicity -Promotes business (press releases, brochures, special events, shows, movies, celebrities, working with stylists)-Develops advertising/promotional materials, (create and execute special events, etc)MERCHANDISING-Analyze records, visit stores and merchandise, analyze assortments, markdowns, presentation, and visual. -Work closely with store management.WHOLESALE VISUAL MANAGER--Maintains brand image in stores and at shows-Creates directives for store merchandising teams to follow-Distributes visual collateral to store merchandising teams MERCHANDISER/STYLIST-Makes decisions concerning the companyʼs line and sourcing, marketing research, projecting sales, working with the mills, reviewing production considerations and costing the merchandise.-May work with staff to schedule samples for promotional eventsINTERNATIONAL MARKETSMarkets-Physical place where the buyer and seller come together to do business – purchase or sell goods EX: Marts, trade shows, showroomsForeign & Domestic Market weeks/calendarsDesigner Markets-(Fall/Winter & Spring/Summer)-Ready to Wear (RTW)Designer CalendarJanuary -- Summer March -- Fall IMay -- Fall II / HolidayAugust -- Holiday / ResortOctober -- SpringForeign Markets are Important Because...-BUYERS CONSTANTLY SEEKING CREATIVE AND INNOVATIVE FASHION MERCHANDISE.-BUYERS SEEKING NEW RESOURCES.-BUYERS TRAVEL TO THESE MARKETS TO OBSERVE NEW TRENDS, BUY SAMPLES TO COPY, OR TO PURCHASE THIS MERCHANDISE4 MAJOR FASHION MARKETS-Paris, FranceCenter of haute couture since 1858Many haute couture houses still exist, ie St. Laurent, Dior, Valentino, etc.Large rtw shows held at various hotels, major attraction sites, castles, Les Halles, a cultural center built on site of famous food market (30,000 buyers attend this show) and other various locations.-Milan, ItalyA leading center for menʼs and womenʼs clothing (grew as leader in the 1970ʼs)Known for fine fabrics, knitwearStrong production base Haute couture/RTW - Alta ModaArmani, Versace, Dolce & Gabana, GucciOther centers in Italy include Florence and Rome, Lake Como-London, EnglandLondonʼs Saville Row for menʼs wear what Paris had been for womenʼs wear 60ʼs-known for Miniʼs and PunkWoolens80ʼs/90ʼs-being revived by designers such as Westwood, Galliano(Dior), McQueen(Givenchy)-NYC, NYFashion Capital of the WorldOthers:SPAIN-leather, women/kids apparel, over 500 mfg. firmsGERMANY-New wave of designers (Jil Sander, Hugo Boss, Wolfgang Joop) firms such as Mondi and Escada, Worlds major textile fair, Frankfort (Interstoff); Cologne(apparel shows)Scandinavia-major shows held in Copenhagen; utilize wool and leathers to produce high priced clothing; Sweden strong supplier of mink and claims to have introduced the string bikini to the U.S.Eastern Europe-emerging production centers doing