Final Study Guide Costing 2 types of costing o Pre costing initial cost Direct costs materials labor other o Final costing Manufacturer s Cost total real Direct costs materials labor other Indirect costs design merchandising salaries administration rent insurance etc Retailer s Cost Manufacturer s Wholesale cost Retail consumer s price Cost markup Usually cost is about retail keystone Beauty spa and wellness Cosmetics fragrances hair and skin Careers and positions o Research and product development o Merchandising and Marketing Account rep coordinator involved with special events promotions traveling to sites Sales account executive sells products to retailers manages the accounts inventory and merchandises Public relations account executive0 works with media contacts promotes Retail counter line management sell manage coordinates events and promotions o Makeup artist works with product and people o Wellness massages facials fitness nutrition centers spas o Esthetics makeovers and beauty enhancement Career opportunities vendor Wholesale Vendor resource manufacturer Organization set up as any other business with officers divisions departments and staff Top executives o Vice president of wholesale sales develops the strategies leads staffs controls budgets and has overall sales responsibilities o National sales manager manages sales orders distributions for a family of business o Manager of international logistics responsible for foreign accounts and trade issues Sales executives o Account executive sources and meets with accounts and new accounts o Executive sales assistant schedules appointments bookings responsible for line additions and cancellations Vendor selling staff o Sales representatives analyze selling tracks delivery takes orders works with retail buyers communicate and visit buyers attend markets may have showroom responsibilities also Corporate company representative on the company s payroll Independent rep paid on a commission basis o 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 deliveries Marketing promotion publicity o Promotes business and develops advertising promotional materials Merchandising o Analyze records visit stores and merchandise analyze assortments markdowns presentation and visual Work closely with store management Wholesale visual manager o Maintains brand image in stores and at shows o Creates directives for store merchandising teams to follow o Distributes visual collateral to store merchandising teams Merchandiser stylist o Makes decisions concerning the company s line and sourcing marketing research projecting sales working with the mills reviewing production considerations and costing the merchandise o May work with staff to schedule samples for promotional events Market physical place where the buyer and seller come together to do business purchase or International Markets sell goods Market weeks Ready to Wear o January Summer o March Fall I o May Fall II Holiday o August Holiday Resort o October Spring Foreign markets o 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 o Paris France Center of haute couture since 1858 Many haute couture houses still exist i e St Laurent Dior Valentino etc Large ready to wear 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 o 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 Other centers in Italy include Florence and Rome Lake Como Armani Versace Dolce Gabana Gucci o London England Woolens o NYC NY London s Saville Row for men s wear what Paris had been for women s wear 60 s known for Mini s and Punk 80 s 90 s being revived by designers such as Westwood Galliano Dior McQueen Givenchy Others Hong Kong china Spain Germany Canada Scandinavia Taiwan etc o Organized in 1868 to coordinate the activities of the fashion industry o To belong established workroom in Paris present twice a year 75 designs and employ o Services include representation with government registers and copyrights designs coordinates dates for shows and manages attendance issues Chambre Syndacale sewers Foreign Market Notes o Haute Couture o Ready To Wear In January and July and examples include Pr t a porter and YSL Produced in greater numbers than couture and is shown in March and September Emerging foreign markets o Spain leather women kids apparel o Germany new wave of designers o World s major textile fair Frankfort o 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 o Eastern Europe emerging production centers doing work for designers such as Liz Federated s Alfani label produced in Poland o Canada and Mexico Nafta bringing new opportunities o IN THE EARLY 60 S ASIA BECAME A MAJOR PLAYER IN THE FASHION INDUSTRY o CHINA TAIWAN AND KOREA TEXTILE MANUFACTURING AND GARMENT CONSTRUCTION o JAPAN AND HONG KONG DESIGN ASPECTS U S fashion Markets Markets include many different buildings and in some cities permanent facilities called marts Some designers and manufacturers have their own facilities o JANUARY SUMMER MARKET o MARCH APRIL EARLY FALL MARKET o MAY JUNE LATE FALL MARKET o AUGUST SEPTEMBER RESORT o OCTOBER NOVEMBER SPRING Why buyers go to market o SEE MERCHANDISE AND ENTIRE LINE SEEK NEW SOURCES FOR BUYING COMPARE A WIDE VARIETY OF MERCHANDISE STUDY MARKET CONDITIONS MEET WITH PRINCIPALS ATTEND SEMINARS MEETINGS AND SHOWS OBTAIN PROMO AND ADVERTISING IDEAS OBSERVE SHOWROOM DISPLAYS Why manufacturers go to market o TO DISPLAY AND SELL THEIR LINES DETERMINE WHICH ITEMS WILL BE MASS PRODUCED SHOW MERCHANDISE MORE EFFICIENTLY MAKE FASHION STATEMENTS TRAIN SALES REPS Five