Artisan Embroidery Initiative is Big Success
PSYDEH is excited to announce that we have completed our 2019-2020 embroidery initiative, a key element of the ongoing “Fruits of Change” project supporting women in business and funded by global citizens who invest in our crowdfunding campaigns with USA-based GlobalGiving.
Here, we back production of women leader artisans’ crafts to help these budding businesswomen strengthen their understanding of such concepts as quality control, production, and pricing. Specifically, PSYDEH invests in one of the women partners’ few available income streams – the sale of artisan goods. We then auctioned these pieces at a December 2019 social-capital building event in Mexico City, augmented by direct sales to folks in PSYDEH’s global network. The initiative links long-term community development strategies undergirding our scalable model to short-term monetary gain for businesswomen co-leading our work.
By the numbers, this wildly-successful initiative resulted in:
- 15 women from Network organizations earning $18,500 MXN for 19 embroideries ($1000 / piece average in a region in which 86% earn $1,800 MXN /month)
- 161% return on initial investment
- net profit margin of 44%
- $18,500 MXN to-be-used in a second-round in late-2020.
- 100% of net gain helps fund legal costs key to the women’s organization’s own fundraising in 2020-2021.