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Explore the New Age Career in Luxury Brand Management

Simran Saini
Simran SainiPublished On: August 25, 2020

Luxury brand management is one of the new age career choices among the millennials. Find out all about the scope of luxury brand management in India and career prospects here.

All About Luxury Brand Management

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.

College

Location

Indian Institute of Management

Ahmedabad

Mundra Institute of Communication and Advertising (MICA)

Ahmedabad

SP Jain School of Global Management

Mumbai

FAD International

Pune

Pearl Academy 

New Delhi

Luxury Connect Business School

Gurugram

Athena School of Management

Mumbai

Lifestyle & Luxury Management Institute

Chandigarh

Jain University

Bangalore

Top Luxury Brand Management Colleges in the World

Here are some of the well known Luxury Brand Management Colleges in the World.

College

Location

Istituto Marangoni

Italy

ESSEC Business School

France

Columbia Business School

New York

New York University

New York

SDA Bocconi School of Management

Italy

Ecole Internationale De Marketing Du Luxe 

Paris

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.

Profile

Average Salary

Brand Manager

INR 7 lakh per annum

Fashion Marketing Manager

INR 10 lakh per annum

Fashion Retail Manager

INR 8 lakh per annum

Visual Merchandiser

INR 9 lakh per annum

Fashion Good Product Manager

INR 8 lakh per annum

Also Read: Find Outall about the Career & Job Options after pursuing Fashion Designing

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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