WiseWear's cost of goods sold ranges from $150 to $200 per unit
Jerry Wilmink · EP 451: 5000 Smart Jewelry Units Sold, $5.1M Raised with WiseWear CEO Jerry Wilmink · Oct 18, 2016 · at 10:19
Jerry Wilmink, founder and CEO of smart jewelry company WiseWear, discusses manufacturing costs and unit economics with host Nathan Latka.
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“Yeah, I mean, the range is 150 to 200, depending on the collection, you know, so it's the materials and cost of goods, quality control, all that goes into it.”
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WiseWear makes zero profit on wholesale retail distribution like Saks
“I would say that is accurate... And truthfully, it's a touch point where we go into, you know, it's in the store and at Saks and it's a great touch point for the customer. But yeah, that's not our high volume place.”
WiseWear discovered how to transmit Bluetooth and Wi-Fi signals through metal
“And we discovered here that we could transmit Bluetooth and wifi through metal.”
WiseWear is projected to reach $4 million in revenue in 2016
“We have some POs and shipped products internationally, so we're looking to do close to around four million this year.”
WiseWear has generated $1 million to $1.5 million in early sales
“No, we're probably around one and a half million.”