Do you mind if we ask you some private questions at the beginning?
- Do you want to have a fun and challenging job in a creative field?
- Are you tired of looking around at people working from 9 to 5?
- Do you get a faster heartbeat by entering a fashion shop?
- Do you get sweats when you see a purse that costs as much as your car?
- Does the fragrance of a high-quality perfume inspires your imagination?
- Names like Gucci, Rolex or Louis Vuitton sound like music in your ears?
If you can answer all questions with YES, then thank the universe that it has guided you to this article because today it’s getting glamorous in here! Today we are talking about studying luxury brand management.
Yes, you've read that correctly - luxury brand management. Does not every single word sounds like a promise of an extraordinary, precious career? You have never heard about it? It sounds too good to be true?
No worries, you are not the first and only who have rarely or not at all heard about this program. It is quite still an insider tip, but as we like you and care of you, we will share all our secrets and enlighten you with all information’s you need to know about this program.
More than glitter and glimmer: the luxury goods and fashion industry
The luxury goods and fashion industry is competitive and growing at a fast rate. From ancient western and eastern empires to modern societies, luxury goods, objects and services have been an inspirational and affluent force in shaping art, culture, society and economics. Despite the global economic crisis, sales of luxury goods are surging worldwide. More than a symbol, luxury goods indicate success, advantage, privilege, taste and dreams. Fashion is a multi-billion Euro industry, but it takes more than an underweight supermodel and Giorgio Armani to make it so. The luxury market relies on managers to understand, steward, and grow this unique sector.
A program in luxury brand management will teach you about luxury goods management, fashion research, trend forecasting, marketing, retail management and brand management. Typical classes cover topics such as rich (and not-so-rich) consumers’ behaviour, luxury retailing and luxury supply-chain management—as well as introducing the industry’s different subsectors, from jewellery to fashion to hospitality.
In luxury brand management, most industry players have realised that experiences are essential. But most of what we know about designing customer experiences originates from work developed with and for mass brands. Luxury brands are an entirely different proposition and require a very specific approach to brand management and marketing.
You are not completely convinced yet? No worries, you can count on us as always! We worked overtime (no kidding!) to do researches to provide you 5 good reason to study luxury brand management.
1. Career opportunities
By choosing to study luxury brand management you have clearly decided to pursue a non-traditional career. On first glance, it might seems that herewith the career opportunities are bit limited. Of course, chances that you will become a life guard or baker due to this degree are quite low, but we assume that this is not your intention when you start this kind if program.
In most cases, your first job in the field won’t be a brand or a product manager; you will first have to experiment with lower level jobs before you actually get to the top management positions. However, if you persevere and prove you’re very good, you will get to the top of the fashion business and add a new spark to this ever-growing and glamorous industry.
The primary focus of this program is to continue creating memorable experiences. It can be challenging and takes a lot of creativity to sell a 50.000 EUR watch to the people. Various organizations are in search of graduates that possess innovation and creativity along with the skills in media, product design, brand experience, and service development.
Experts in luxury brand management are aware of the product placement, and they know the role they have in the market. They also analyse the brand's relationship with the customer. Tasks of a manager of a luxury brand also include attracting and retaining consumers and improving the organizational and practical management of the brand. Students end up becoming experts in making critical decisions revolving around brand repositioning and extension. They also learn how they can detect weaker products in a particular collection.
You cannot stand the feeling of being just one of many? With this degree you will definitely not face this problem.
The market is being saturated by traditional MBA programmes where students have lot of business administrative and finance knowledge, but they don’t necessarily have skills to apply the theory that they have learnt. This is why the market has driven the need for these highly specialised MBA’s. Besides, there is a difference between the business model of a normal brand and a luxury brand. Luxury is a culture: you have to understand it to be able to practice it with flair and spontaneity and to build a career in the very competitive international luxury industry who remains a brilliant growth sector in the current economic environment. By studying this special sector of management, you will stand out from the crowd.
4. Worldwide opportunities
Besides the fact that you will meet interesting people and customers from all over the world, another good reason to pursue to study luxury brand management is the unlimited opportunity to stroll around the globe. In every single country of this world, even in the most remote place, there are always people who are willing and can afford to spend a lot of money for expensive luxury items. All reputable brands have countless branches in diverse countries. Maybe today you live in Paris, next week in Dubai and next year in New York. The world is yours-you just have to grab it!
It’s an ancient simple reality: everything which is unique or rare has a higher value then things that are available in large numbers, let’s take for example Rolls Royce vs. Fiat.
The career you can pursue with a degree in luxury brand management is far away from being traditional and the number of alumni’s (=competitors) are limited. As the luxury market relies on managers with this special degree, you will be the rare Rolls Royce!
Fashion and luxury brands will attract you with a high boarding salary and combine it most likely with commission. It is also common that you can expect free brand products from your employer for making you a living advertising icon. Actually not too bad if you keep in mind, that one of those products could have the value of your whole wardrobe, minimum.
Imagine yourself in a big crowd, everybody is talking about their boring traditional 9-5 office jobs. Now it’s your turn!
Imagine yourself telling them, with a smugly smile in your face, that you enjoy an upscale lifestyle by making tremendous great money with fashion, luxury, world traveling and fun.