Math may not be what initially enticed you to become a fashion designer. As a matter of fact, you may have been actively avoiding all things math related when you decided to make fashion design your career. However, as you begin to turn your love of fashion design into a viable business, retail math concepts become increasingly important. At the University of Fashion, one of our goals is to make you as well prepared as possible to enter the fashion industry as both a knowledgable designer and as a business owner.
If you are entering the fashion industry as a retail buyer, merchandiser or marketer, our newest series of videos will be vital viewing. This week, Basic Math Concepts for Retail Buying joins a host of other videos such as our Fashion Startup 101 series, Licensing Money Matters and Introduction to Fashion Marketing which provide you with the information necessary for success when costing, buying and selling, marketing and licensing.
As a designer, it is important to consider how you will price and market your line. When costing your collection, basic math concepts will come in handy and ensure that you stay within budget. If you are considering licensing your brand, understanding percentages means you will understand how you will benefit from a licensing partnership.
As a retail buyer, having a clear understanding of decimal, fraction and percentage conversions prepares you for positions that involve apparel buying and the planning and allocation of merchandise. Regardless of your role in the fashion industry, be sure to watch our newest video below.
In the coming weeks, be on the lookout for two additional videos in our Retail Math series: Understanding Retail Profit and Loss and Creating a Retail Merchandise Plan.
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