Do you see yourself working for a top luxury brand like Gucci, Armani, Dior, Versace, Prada, Ferrari and more? Then a course/degree in Luxury Brand Management should be the ideal choice for you. This degree will open doors for you to work for the top luxury companies and will result in your substantial growth in this sector.
According to the researches done on Global recession, it is obvious that thousands of small brands are either struggling or have discontinued. The inflation of assets due to the global recession has completely outpaced wages and hence the struggle for these brands has grown and has affected them big time.
The latest statistics showed the world, despite the huge economic crisis due to recession, it is the sales of the luxury products, that continued to grow. Luxury companies in today's world are considered a symbol of success, status and privilege. The Luxury brands, had made a name for themselves and their success is heavily dependent on the people who are representing them in the Luxury sector.
Over the last few decades, the luxury sector has continued to thrive as more and more people are realizing the meaning and importance of different luxuries in life.Speaking of numbers, the Indian Luxury Market is growing at a pace of 20% PA.” The global market for luxury is always changing, as many brands are springing up and products are more attainable. One thing about luxury is always constant, that is people's attraction and fascination towards luxury and that will stay till the end of time.
One question that will appear in most minds would be, why are we emphasizing on Luxury Brand Management, not retail management as a whole or not fashion management, specifically?
The answer to that lies in the question itself, retail as a whole, includes all kinds of brands (the big and the small, the good, the bad as well as the average). As far as being specific is concerned, then we strictly do not want our candidates to put their careers on risk, as fashion is something that can change overnight. Fashion can be luxurious, but it certainly can be cheap too.
The following comparative analysis will give a more clear picture:
| Retail Management |
Fashion Management |
Luxury Brand Management |
| Covers Retail as a whole (a macro level course, covers the working of Retail Sector in General) |
Covers Fashion (ideally for people, who specifically want to be designers or contributors in fashion world. Pretty niche and specific course) |
Covers how exactly the luxury industry works and how the top elite brands function. A part of retail but specifically inclined towards luxury industry. |
| Course emphasizes generally on top retail chains and hypermarkets like Mcdonalds, Subway, Big bazaar etc |
Fashion covers a part of luxury, but fashion have thousands of cheaper alternatives too. |
Targets top and classy brands like Dior, Ferrari, Gucci, LV, Prada and more. Explains, why these elite brands always stay on top and never go outdated. |
| Concept of Retail in general is still not clear in India as many outlets like Big Bazaar and Reliance fresh are not able to be successful. |
Fashion is something, that can change overnight, hence the chances of getting successful is rare. |
The top brands are able to sustain their top position, no matter what. Hence in terms of career choice, they are the safest choice. |
| Majority of Top retail managers, end up getting in luxury industry. As this holds their ultimate future. |
If one grows tremendously in fashion sector. Either they start working for some top fashion luxury brand or go self employed. |
The future of Retail sector as a whole and Fashion sector, depends heavily on Luxury brands. Therefore this industry is the best option in terms of growth and better future. |
There are plenty of other advantages of doing a course in Luxury Brand management as:
- Candidates who are willing to pursue a course or a degree in luxury brand have a lot of career opportunities for them.
- Candidates would be provided with the needed skills and required knowledge of this growing sector.
- They would be able to observe the minutest details and characteristics in the world of luxury and shall get a good idea about culture, trends, expertise and business areas related to the luxury industry.
- Concepts of brand management would be completely taught irrespective of candidate being fresh or experienced.
- The candidates would be fuelled with cutting edge business skills and creativity, in order to succeed and dwell into the luxury industry.
- The value of luxury brand, its impact and overall goodwill would be explained.
- Candidates would definitely get an extensive learning experience and will get opportunities to visit prestigious brands, they will also attend conferences and get chance to meet the successful professionals from the luxury industry.
With infinite number of opportunities coming in this industry, there would be a huge need for professionals who have in depth idea of this industry and hence it indeed is the right time to safeguard your career choice. Therefore all in all, this course will ensure the candidates get a complete idea of how the luxury market works and the visionary approach of these brands for an even brighter future.
