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Choose a Master, an MS or an MBA in Luxury Management
The sector of Luxury Management
Luxury management is just like any other business-oriented profession, except that it deals only in luxury goods, and how to market and manage those specific brands to fit with that unique type of consumer. The main sectors of this profession consists of business, marketing, finance, advertisement, management, and most notably, fashion.
Follow a Masters/MS/MBA in Luxury Management
Programs that specialize in luxury management are constructed to provide a platform for exploring the market of global, luxury goods. Students are taught to understand the uniqueness of managing luxury organizations in the forms of retail studies, luxury branding in marketing and management, marketing strategies, global branding, and finance and wealth management courses. In fashion concentrating students, they learn the ins-and-outs of the fashion business and establish unique strategies that help grow those enterprises.
To work in the specialty’s sector
Jobs in this field can be quite standard for anyone specializing in business like communications managers, strategy consultants, Internet project managers, and salespersons. However since workers would be dealing with luxury brands and companies, however it’s in its own world of potential job hiring’s, due to the size of the consumer pool. Luxury brand managers, fashion brand/luxury goods product managers, fashion retail buyers, fashion PR specialist, luxury brand marketing executives, global sourcing executives, and brand managers are available.
What about the area of this specialty in 2019?
In the world of luxury fashion in 2019, it shows the rise of casual styles and the decline of formal-wear. Luxury brands and companies are starting to try to reach younger, millennial consumers by using more online shopping methods, especially on mobile devices. This targeting of millennial consumers online is continuing to grow. In addition, China has become the next, big target for luxury brands. Combining social media outreach, and the amount of times Chinese consumers shop online, it’s not surprising why an increasingly amount of luxury businesses are focusing on China as their next big market.
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The expert's corner
Fabrizio Maria Pini
Adjunct Professor of Marketing & Communication and Director of the “International Master in Luxury Management
MIP Politecnico di Milano School of Management
Luxury and fashion are fascinating sectors that, despite economic downturns, show interesting opportunities for employment and the development of engaging and stimulating careers. Luxury and fashion show very unique characteristics compared to other industries and call for a specific set of competencies that need to be developed with adequate training programmes.
Managing the value creation process in luxury and fashion firms is a blend of know-how and skills related to: the management of creative processes; the combination of craftsmanship and technology to provide high end products mixing traditional savoir faire with latest fashion trends; the creation of brand narratives that enrich customer experiences through the understanding of brand heritage; the design of customer experiences in store and in digital environments; financial understanding of intangible assets such as brands and unique design competencies; real estate management capabilities to provide a sound economic development of retail chains and flagship stores.
Developing a professional profile in luxury and fashion management is a fascinating journey into unique sector, market and firm characteristics that requires training partners with a strong tradition in the field and an ability to integrate sound theoretical backgrounds with a lively and constant interaction with leading global and fashion firms.