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2 Types of costing Pre costing (initial cost) Direct costs= materials, labor, other Final costing = Manufacturer’s Costo (total, real ) Direct costs= materials, labor, other Indirect costs = design, merchandising, salaries, administration, rent, INS, etc. Retailer’s Cost= Manufacturer’s (Whole) cost Retail (consumer’s) price = Cost + markup  Usually cost is about ½ retail (keystone)(Retail math concept to set retail price)Beauty, Spa and wellness: Cosmetics, fragrances, hair and skin, spas, and centersR & D◦ Research and product developmentMerchandising and marketing:Account rep/coordinator: involved with special events,  promotions, traveling to sitesSales/account executive: Sells products to retailers, manages the accounts (inventory), and merchandises.Public relations account executive Works with media contacts, promotesRetail counter, line management Sell, manages, coordinates events and promotionsMakeup Artist: Works with product and peopleWellness  Massages, facials, fitness, nutrition centers, spasEsthetics Makeovers and beauty-enhancement CAREER OPPORTUNITIES-VENDOR/WHOLESALEDefinitions: Vendor- resource-manufacturer Product to distribution International/global industryOrganization: Set up as any other business with officers, divisions, departments, and staffTop Executives: VICE PRESIDENT OF WHOLESALE SALES-Develops the strategies, leads staffs, controls budgets and has overall sales responsibilities. NATIONAL SALES MANAER-Manages sales, orders, distribution for a family of business EXS Girls - BCBG GIRLS MANAGER OF INTERNATIONAL LOGISTICS- Responsible for foreign accounts, responsible for trade issuesSales Executives: ACCOUNT EXECUTIVE-SOURCES AND MEETS WITH ACCOUNTS AND NEW ACCOUNTS) EXECUTIVE SALES ASSISTANT-SCHEDULES APPOINTMENTS, BOOKINGS, RESPONSIBLE FOR LINE ADDITIONS AND CANCELLATIONS)VENDOR SELLING STAFF:Sales Representatives Given a territory (region)2 MAJOR TYPES OF REPS corporate/Company – on their payroll In house/showroom  Traveling  Independent – paid on a commission basisCustomer Service Representative Sales 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 image Prepare for business (market week & appointments).  Know current lines, clientele and have strong selling skills Prepare for appointments (Merchandising) Review selling history and various buying traits Assure purchase orders are set up along with look books, line books, swatches, etc. Review deliveries, and follow and check for reorders Know sales goals, usually commission status Monitor 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)MERCHANDISERS: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 teamsMERCHANDISER/STYLIST Makes decisions concerning the company’s 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 events. AssistantINTERNATIONAL MARKETS:Markets: Physical place where the buyer and seller come together to do business – purchase or sell goods Marts, trade shows, showrooms Foreign & Domestic Market weeks/calendarsMarket weeks:Designer F/W & S/S RTW January -- Summer March -- Fall IMay -- Fall II / HolidayAugust -- Holiday / ResortOctober -- Spring Foreign Markets: WHY SO IMPORTANT? 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 MERCHANDISE 4 major fashion markets: Paris, France Milan, Italy London, England NYC, NYOthers: Hong Kong, China, Spain, Germany,  Canada, Scandinavia, Taiwan, etc.Paris, France: LOOKED TO FRANCE FOR YEARS FOR FASHION DIRECTION. ACTUALLY FOR CENTURIES, BECAUSE FRENCH DESIGNERS HAVE ALWAYS HAD AN IMPACT ON WHAT FASHIONS ARE PRODUCED AND SOLD IN OUR COUNTRY. Paris: Center of haute couture since 1858 Many haute couture houses still exist, i.e. St. Laurent, Dior, Valentino, etc. Large trade 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. Chambre syndacale: Organized in 1868 to coordinate the activities of the fashion industry To belong: established workroom in Paris, present twice a year, 75 designs, and employ sewers Services include: representation with government, registers and copyrights designs, coordinates dates for shows and manages attendance issues Changes: MADE UP OF FRENCH DESIGNERS FOR MANY CENTURIES, BUT TODAY DESIGNERS FROM VARIOUS COUNTRIES ARE LEADING THE FRENCH DESIGN HOUSES. HOUSE SET UP SIMILAR TO DESIGN HOUSES IN OUR COUNTRY WITH THE WORKROOMS CALLED ATELIERS AND SHOWROOMS CALLED SALONS. Milan, Italy: A leading center for men’s and women’s clothing (grew as leader in the 1970’s) Known for fine fabrics, knitwear Strong production base  Haute couture/RTW - Alta Moda  Armani, Versace, Dolce & Gabana, Gucci Other centers in Italy include Florence and Rome, Lake Como London, England: London’s Saville Row for men’s wear what Paris had been for women’s wear  60’s-known for Mini’s and Punk Woolens 80’s/90’s-being revived by designers such as Westwood, Galliano(Dior), McQueen(Givenchy)  International shows: Shows staggered scheduled so buyers and fashion directors can go to all if need be. Foreign market notes: Apparel is designed and presented on two levels: Haute couture January/July Pret`a porter , YSL RTW is produced in

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FSU CTE 2800 - 2 Types of costing

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