Parsons x Teen Vogue Assignment: Bracelet DIY!

For almost a full year now I have been taking an online fashion course ran by Parsons- The New School for Design and Teen Vogue! One of my assignments was to design a possible product and calculate the cost to make it, profit, and the retail value for it.

My design:  Updated bracelet

I decided to take my old pearl bracelet and give it a modern twist. I wrapped ribbon around the bracelet in a slightly overlapping pattern and then sealed the ribbon around the bracelet using glue. I didn’t realize that my product was slightly expensive to make!

Original Ribbon Bracelet Idea

One roll of ribbon $3.00
Bracelet $5.00
Superglue $4.25
.5 @ $10 $5.00
Total Production Cost $17.25
20% profit $3.45
Total Cost Plus Profit $20.70
Estimated Retail Price $24.00

Improved Ribbon Bracelet Idea

One roll of ribbon (from Amazon) $1.50
Bracelet (cheaper material such as plastic band) $2.50
Krazy Glue $3.00
.33 @ $10 $3.30
Total Production Cost $10.30
20% profit $2.06
Total Cost Plus Profit $12.36
Estimated Retail Price $24.00

I never was a big fan of math in school, but learning how to calculate product costs and my profit was interesting and fun.Now, I can say I know how to calculate those details if I decide to start my own business or assist friends and family members with their ideas. I also liked trying to figure out how to cut costs in order to save money, but still profit! Using a different type of glue and using a different product underneath the ribbon cut the cost dramatically.

Try it out with your own DIY products! Tell me in the comments all about your item, the cost, and any additional info you would like to share 🙂

Advertisements

4 thoughts on “Parsons x Teen Vogue Assignment: Bracelet DIY!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s