- How to Get Into the Luxury Industry?
- Luxury Brand Management Courses
- Top Colleges for Luxury Brand Management
- Top Luxury Brand Management Colleges in India
- Top Luxury Brand Management Colleges in the World
- Key Skills Required to Work in Luxury Industry
- Scope of Luxury Brand Management
- Career Opportunities in Luxury Brand Management
- Pros of a Career in Luxury Brand Management
- Cons of a Career in Luxury Brand Management
- Related Articles
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Do you see yourself working for some of the high-end fashion brands in the luxury industry such as Gucci, Prada, Dior, or BMW to name a few? Then, the Luxury Industry is the right career choice for you. Luxury Industry entered the Indian market in 2012 with the establishment of several luxury brands shopping malls in India. It is one of the most flourishing industries in the world. With drastic changes in the fashion trends and lifestyle, better income and awareness luxury brand management is a new age career choice for the generation today.
Luxury Brand Management as a subject trains students to apply time-tested management practices and skills to businesses/ companies that offer premium services and luxury goods. The luxury brand management courses train professionals to understand the nature and heritage of the brand and to apply the same with a potential set of clients.
How to Get Into the Luxury Industry?
To pursue a career in luxury brand management, students must have a graduate degree and have an affinity and knowledge about the luxury industry. At present, there are only a few educational institutes and colleges offering courses in luxury brand management in India. The institutes offer both undergraduate and postgraduate courses in the field of luxury brand management. However, candidates can apply for luxury brand management courses in countries such as the UK, France, Italy Switzerland. It is where the luxury industry was born and some of the best luxury brand management schools are located there. These luxury brand management schools offer an environment conducive to learning and growth. These luxury brand management schools and university have an outstanding faculty and learning environment offering students a dynamic learning environment.
One of the most preferred courses in the respective field is an MBA degree in Luxury Brand Management. Brand in the luxury industry prefers professionals with an MBA degree due to their in-depth understanding of the respective field. An MBA degree in luxury management focuses on strengthening strategic management skills required to manage luxury international brands.
Apart from that summer internships with the luxury brands can help kick start your career and increase your employability.
Also Read: Top 10 Fashion Colleges in India
Luxury Brand Management Courses
The courses in Luxury Brand Management train professionals in such a manner that they know the intricate details of their bands and their products. Luxury brand management course trains students to develop requisite skills and competencies of future professionals in the world of luxury. These courses pay a lot of importance to service for the success of the brand. From understanding the customer to practical training to services the luxury brand management believes in the holistic development of the students.
Top Colleges for Luxury Brand Management
Luxury brand management is one of the budding career choices in India as compared to abroad. Many educational institutes and colleges in India have started offering UG and PG courses in luxury brand management.
Top Luxury Brand Management Colleges in India
Check the table provided below to know some of the well known Luxury Brand Management Colleges in India.
Top Luxury Brand Management Colleges in the World
Here are some of the well known Luxury Brand Management Colleges in the World.
ESSEC Business School
Columbia Business School
New York University
SDA Bocconi School of Management
Ecole Internationale De Marketing Du Luxe
Key Skills Required to Work in Luxury Industry
The luxury industry is one of the most demanding careers and it requires professionals to have a range of skill sets. The professionals in the luxury industry go through proper training and are well acquainted with the ways of how a luxury brand operates. The key skills required to work in the luxury industry are as follows:
- Customer Relationship
- Attention to Intricate Details
- In-depth knowledge and passion for luxury
- Excellent Communication Skills
- Leadership Qualities
Scope of Luxury Brand Management
In India, there has been a significant increase in mid-level and high-level income earners. According to the recent report by Mckinsey, the High- Income Earners (HNI) population in India is expected to increase by 94% by 2020. Whereas in China it is estimated to be around 74%. The scope of luxury brand management in India is expected to increase rapidly in Tier 1 cities such as Delhi, Mumbai, Chennai. The rise in the standard of living, increase in the HNI earners, and affinity towards luxurious aspects of life has led to a positive scope of luxury brand management in India.
From designer bags to luxury cars to perfumes to wines and spirits all sorts of brands and luxury good are expanding in India. This has led to an increase in the demand for well-trained luxury professionals who have the right skillset and knowledge to be able to handle and manage the customers.
Career Opportunities in Luxury Brand Management
Luxury Management covers a wide range of industries including jewellery, fashion, technology, wine and spirits and travel. You can apply to any sector based on your expertise and skills. Some of the job profiles available in luxury brand management are provided below.
INR 7 lakh per annum
INR 10 lakh per annum
Fashion Retail Manager
INR 8 lakh per annum
INR 9 lakh per annum
Fashion Good Product Manager
INR 8 lakh per annum
Pros of a Career in Luxury Brand Management
Luxury Brand Management is an attractive field
A career in Luxury Brand Management allows you to form good networks
Salary in Luxury Brand Management is good
Cons of a Career in Luxury Brand Management
A career in Luxury Brand Management is not suitable for the person who is interested in technology
You will have to be updated with the current trends in the fashion industry
A career in Luxury Brand Management can be very stressful at times
Luxury brand management can be one of the most rewarding career choices. The brand managers and professionals get to enjoy sales perks, gift vouchers, paid travel and networking with some of the most influential people apart from the great salary packages. Brand managers with experience of 5 to 10 years can fetch salary packages between Rs. 20 lakh to Rs. 30 lakh annually. If you want to know more about luxury brand management, you can ask your questions on the Collegedekho QnA zone.
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