Hope all's well. Question for you regarding designer royalties - is there a way to find out the going rate for royalties in my industry (luggage) before approaching designers? How do I know if the designer I wish to work with is quoting me a reasonable percentage? Also, is your instruction regarding asking designers to forgo an advance a rigid one or is there some flexibility? Is this kind of arrangement the norm or an acception? (Not counting people like Karl Lagerfeld or Prince!)
S,
Mostly by reading trade journals or calling luggage makers and asking them is the best way to find the going rate...
The point of the advance on royalties is to shoo away flakes... if you have retailers who say it is a good idea and does not exist, then you are not a flake... therefore, there should be no advance...
John
Thursday, March 18, 2010
Question on Royalties
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