Posted: Sep 19 2016
Tomorrow is going to be a great day!!
Going on pre-sale tomorrow will be, ALL the wool and wool blend tees and some of the beanies ( popcorn stitch only). The basket weave beanies will go up later once they are delivered to me.
My beanie maker only knitted me popcorn samples. It was my fault not asking for both.
The tees will comprise of the amazing wool and wool blends, I sourced from Global Merino and Japan.
I don't believe any tee is retailing over $75.00.
Once, I find a web designer that can add a price breakdown page similar to "Everlane"I will start giving everyone the exact price of what everything costs. I believe this will help the brand in great ways. Since day one, I have always been transparent with costs and quality. It's a mainstay in what WvG customers have grown accustom to.
This addition might help a lot of people understand, what really goes into a product. After purchasing and comparing the consumer will ultimately be more educated. This is a good thing, for everyone.
In the meantime here is a break down of the "Not so basic tee" per garment.
CMT ( cut, make, trim) $7.00
Fabric $20.25 per yard ( luckily I need one meter to make a tee)
Silk Screening label $0.50
Total cost to make $31.00
My retail Price $72.00
Rewards Price $57.60 ( Hey,below wholesale.Who loves you.)
If this garment was to be sold in a retail store such as Barney's or a specialty store like Union Made, the garment would sell to the consumer for around $155.00.
The break down is simple $31.00 is my cost. I mark up the garment 2.3 times my cost to cover all my expenses. Normally, 2.3 to 2.5 times what cost is the standard mark up for wholesale.
Sometimes "Keystone" is used. "Keystone" is doubling the price of what your product costs you to make. Most designers do not use "keystone". If something is stupid expensive to make, like a suit or outerwear, I use keystone. My reasoning is if the costs are higher my profit margin is usually higher, I can afford to take a bigger deduction while still making some money.
The retailer then marks it up around 2.3 to 2.5 times and that's your final retail cost.
Because, I am a one man show, I don't need to mark the product up so high. I do need to make a living. I have a beautiful wife and a kickass daughter to take care of.
I would like to give Everlane a shout out for being transparent. There aren't many of us in this business that want to give our customers the best possible product and the best possible price.
Tomorrow's tees and beanies are the shit! I can't wait for you to feel how good the fabric feels and how well the garment will drape on your body.
Like always, we are only making a limited amount. I believe about 30 units of each color are being made, roughly. We are only making 20 beanies per color per style, if that.
Please feel free to leave me a comment if you wish. I would love to hear what you think of me breaking down costs.
Finally, production time. The beanies are already being made and should arrive before the end of October.
The tees will be shipped around Thanksgiving. If there is a small delay, I will let everyone know.