I’ve been continuing my courses for the Industry Essentials program through Parsons the New School x Teen Vogue and had to use a photo that I took of intricate details of objects to then inspire me to create an accessory. After racking my brain and spontaneously cutting up an old CD (a random singer that my Dad liked in the 80s) I then got out a pair of jeans and voila! A denim cuff with a retro flair came about. While the craftsmanship may not be perfect (I am not known for my crafting people) I didn’t think that it was too shabby. If you like going back to the old days of busting out your CDs and if you enjoy wearing denim anywhere but on your legs then this is PERFECT for you. Okay jokes aside, for the next course of the program I had to price out the accessory as if I was actually going to produce the item.
Before I get started, here is a good look at the cuff I created:
Here is how I priced out the piece judging by the items I used and by how long it took me to actually produce the bracelet. Without wholesale pricing, the production cost was rather high, which forced me to drive up the retail price in order to still make a 20% profit as suggested. Below is my math:
Denim $7.25/ Yard
.41 Hours @ $9 $3.69
Total Production Cost $11.94
20% Profit $2.39
Total Production Cost Plus Profit $14.33
Estimated Retail Price $14.50
So since my production cost plus my profit was almost the same as the retail price, I scoured the web to help drive down the price of the cuff as if I was going to mass produce them. I found denim on wholesale for about $4.75/yard which majorly helped in driving down my cost. I then also came across CDs in bulk that made the price of a single CD go from $1.00 to only $.18. I figured that I could also cut down my production time to 20 minutes instead of 25 (could probably lower as well over time) which would save money on labor. My production cost with profit was now only $9.48 and by leaving the retail price at $14.50 I would be making almost $7.00 in profit, which would more than likely force me to lower the retail price in order to sell more cuffs. This would also be rather logical because this bracelet would be a very easy DIY (like I said folks not a whole lot of craftsmanship here)
Discography Bracelet (Price Conscious)
Denim $4.75/ Yard
CD (in bulk) $.18/ CD
.33 Hours @ $9 $2.97
Total Production Cost $7.90
20% Profit $1.58
Total Production Cost Plus Profit $9.48
Estimated Retail Price $14.50
All in all I was happy with the bracelet that I created because the idea was more outside my wheel house and well I did end up producing an accessory in the end. The cuff looks better in person though solely because of the colors that the discs produce. The first picture of the post captured it rather well but here is another good look at the prisms.
I have really been enjoying the courses and I will continue to update with various projects periodically!
P.S. Bracelet can also be used to cut an enemy if desired. I’ll give props to myself for creativity but I’m not quite sure if we can rule the cuff out as a hazard.