Pricing is a very taboo topic in this industry but I thought it would be great to air it all out and have a conversation about it.
First of all, yes you are right to be suspicious about an expensive hoodie. Many brands at my price point are bumping up to ridiculous margins but not all. Overall just know the fashion industry isn't where people go to make money, there are much more lucrative pathways for that with less headaches.
Hopefully what you can see from the graphic of cost breakdowns is that making locally in Melbourne is fuckin expensive. We have the highest minimum wage in the world. While I've had to think about if in future I'll make all my products in Australia, overall I do believe in paying everyone in the supply chain fairly for there time.
Something I've realised in general about product is usually if you're not paying for it, someone else is. Often you getting a bargain means someone at the bottom of the supply chain is being paid extremely low wages.
For a small business with small minimums it is quite expensive to offer a high quality product. While I aim to have my product be high quality in the early days of business there is no way around a higher price point. If you are interested in what I'm making and appreciate the thought, effort and quality a purchase goes a long way. On the other hand if you don't choose to spend your money on garments/ethical product that's fine too. I hope to offer value through my branding alone even for those who don't purchase
Thanks for comin to my TED TALK
- Simo
