Luxury Brand Management: A Path towards Luxury Fashion Industry

Do you like to be part of the ever growing luxury brands industry? Are you looking for a challenging job in a creative field like luxury fashion industry? In that case, you should consider taking up a program in luxury brand management. The fashion industry is a segment of the luxury brand industry. With an appropriate knowledge and expertise to understand luxury industry, you can carve a niche for yourself. Dealing with luxury brands consumers is different from dealing consumers of normal brands. A person has to understand the consumer's behavior as to why they want to indulge in a particular product. Selling luxury is about selling experiences.

The luxury fashion industry is growing at a fast pace and it is too competitive. A master’s program in luxury brand management will teach you about the luxury goods management, marketing, brand management and retail management and other things.

Once you have a certain expertise, you can achieve your dreams to work in big luxury fashion brands like Gucci, Chanel or Cartier or a many more. You can become a fashion store manager, fashion brand manager or a fashion PR specialist. You get to work with celebrities of the fashion world!

How can a program in luxury brand management help you get a job in the fashion industry?

After doing your management course, you can enter fashion industry with confidence. There are several kinds of jobs available in this industry such as following

Luxury brands Manager:

The job of a luxury brand manager is very crucial. Your job will be to develop a marketing strategy to attract potential clients. To achieve this, you have to keep in contact with all departments of your company. Your job will be to create an image of company’s brand and make it attractive among the consumers.

Your responsibilities will be as follows

 *  Market research for creative marketing strategies

 *  Organise and manage the marketing campaigns

 *  Connect with promotional agencies

 *  Collaborate with brand designers

 *  Budgeting tasks for marketing campaigns

 *  Fashion brand/luxury goods product manager

As a Fashion brand/luxury goods product manager, you will be responsible for the product planning to its marketing. The job starts with market research and understanding consumer behavior. Fashion is not limited apparel segment; it has a range of products including footwear, bags, jewelry and other things. As a product manager, you will be collaborating with different sections including design, quality assurance, sales and marketing and more.

Fashion PR Specialist

* As fashion PR specialist, you will have the opportunity to work with hotshot celebrities of the fashion world, attend fashion shows, award shows, and big events,

* As fashion PR specialist, you will work to enhance the image of your brand.

* You work closely with media and ensure the strong and appealing image of your brand

* Connect and maintain relations with editors of fashion magazines to write articles about your     brands.

* Handle clients and keep them happy.

Above mentioned are just a few options; career scope is extremely wide once you are ready with the required expertise. You can have other options also such as sales consultant, customer service representative for a fashion house or luxury brand.

Luxury Connect Business School holds a good reputation for offering well-structured management courses. LCBS is one of the leading luxury management institutes in India and has great faculty. Students are exposed to national and international luxury brands to have the best experience of working in the real-time environment. 

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How important is it to take up Luxury Brand Management as a career?

Are you thinking about switching your career to something different? Do wish to enhance your profile with a course that’s challenging and exciting at the same time? If that’s the case, then you can always go for building a career in luxury management.

While India is considered to be the fastest-growing market for luxury goods, you could expect an 86 percent growth in the luxury market by 2019. The overall growth can be anticipated due to the increasing demand for timeless jewelry pieces, luxury accessories, and stylish footwear as well as clothes. It is because this reason there are many career prospects in luxury brand management. The best business schools in India gives people the opportunity for developing the expertise and enhance the knowledge with luxury marketing.

As a matter of fact, the luxury industry can expect growth as much as $18.5 billion from the current $50 billion by 2020. This makes it evitable that as the market grows the job opportunities are sure to grow.

Why OPT for a Luxury Management Course?

Since the market has observed popularity of luxury products, a lucrative career can always make aspirants successful. There are many opportunities in the market as people become passionate about what they want to pursue. So, here are some reasons of attaining the relevant degree.

Scope – There’s immense scope in the market once a person has successfully completed the management course. He can either choose a job related to marketing, logistics or get actively involved with the design department.

Experience – Regardless of how much experienced you might be, a degree for a well-known business school can take you through aspects associated to luxury brands and services. For instance, some programs expose the person to different markets as he can study in different cities of the world.

Best practices – As the candidate moves ahead with knowledge of heritage brands, he develops the skills for carrying out the business. Management practices can actually help him succeed in the relevant market segments.

An overview of the Luxury Brand Management Program

The Luxury Brand Management Program paves the road ahead to become a successful entrepreneur in the luxury industry. Throughout the entire course, the students would be working with professionals who have an interest in fulfilling their dreams in the luxury industry.

Once the individuals have enrolled in the course, they would be in a better position to manage a successful business venture in the domain. Moreover, they can always perceive business opportunities and set business goals. When the student aspires to show entrepreneurial performance through the luxury brand management course, they can apply standards of excellence. Effective presentations in front of other people would boost confidence and enhance communication skills.

Finally, it’s always necessary to choose the most appropriate program if you are seeking to pace ahead with a bright future. Known to be India’s first luxury business school, Luxury Connect Business School (LCBS) has always delivered training for being the best in the market. As the educational institute maintains relations with top luxury brands, it always offers a different experience to students.

Need for Effective Luxury Management Training - LCBS

Consumers today are increasingly focused on getting optimal qualities in their products. The luxury goods and services industry is mainly driven by the exclusive features and the luxurious factors that are found in opulent products. The luxury goods and services consumer is unlike any other. There are several differences between luxury brands and conventional brands. This requires management of luxury goods and services to be more refined and innovative comparatively.

 Importance of Getting Effective Luxury Management Training

As the luxury industry differs from conventional businesses quite significantly, the management and day-to-day operations of this industry are also quite different. There are several important aspects in the luxury industry’s customer relationships, promotional strategies and daily functioning that are not the same as in conventional goods and services industry.

Luxury Connect Business School (LCBS), by far the leading business school in India, offers immensely effective, relevant and impressive luxury management training through its post-graduate management courses mainly focused on the luxury goods and services industry. Whether you are a management student, or are a management professional seeking to hone their management skills, there are immense varieties of courses and training workshops organized by LCBS.

Today, there is a significant growth in the numbers of luxury goods and services consumers all over the world, and especially in India. With its expansive and growing population, India is home to an impressive talent pool of IT and business management aspirants. Seeing the rate at which the luxury industry in India is gaining momentum today, management career experts highly advise students and working professionals to undergo these immensely effective and updated management training courses.

Little about Luxury Management

Luxury management involves learning first-hand the skill of applying brand management principles to the luxury goods and services industry. These courses are effective in teaching management aspirants the way to create an impressive brand image for their company, which expresses its luxurious status quite clearly.

As this is an immensely competitive industry situated within a niche market, the luxury brand managers are tasked with widespread innovative promotions that help to pull in other potential consumers towards their brand effectively. During all this, the manager has to also ensure that the inherent luxurious image of their brand is constantly improving and maintain the exclusivity of their brand’s products.

One of the most excellent benefits that you get when you seek a course in luxury management training from Luxury Connect Business School is the hands-on training it provides to its management students. This course includes a significant portion dedicated to practical training at some of the most renowned luxury brands, including BMW, Mercedes-Benz, ETHOS Watch Boutiques, Genesis Luxury, Michael Kors, among others. This collaboration with renowned international luxury brands enables LCBS to prepare the students in the best possible way to face the numerous distinct challenges they may face in this industry.

 How to decide if you are right for Luxury Management Training?

These are the factors that can help to decide whether you, as a management aspirant, need to get luxury management training:

• If you wish to work in an executive position for luxury brands
• If you wish to seek international-standard management training but cannot afford to shift abroad, pay high fees, or due to any other such issues
• If you are already working as part of luxury industry but wish to shift to brand management
• You have an impressionable personality, effective communication skills and aspire to become an expert brand manager in luxury industry
• You wish to gain comprehensive knowledge of the luxury goods and services industry
• You wish to gain world-standard education and training at truly affordable cost

Luxury Connect Business School is counted amongst the top business schools not only in India, but also around the world. The innovative teaching methods, excellent hands-on experience opportunities, combined with updated and relevant course material makes LCBS the top choice for students from India and abroad as well.

Best Luxury Management Courses - LCBS

Time to Choose the Best Luxury Management Courses :

India is home to an immense population which is the perfect set-up for small and large businesses to operate. Today, thanks to increasing spending power and brand awareness, the luxury goods and services industry in India is experiencing one of the best booms in recent times. This calls for management professionals to seek the right training and experience which will make them invaluable in today’s highly competitive Indian luxury market.

Growing Indian Luxury Market and its Opportunities:

According to a report by ASSOCHAM*, the luxury market in India is set to get boosted to around USD 30 billion by end of 2018, from the current USD 23.8 billion. The increasing exposure to international luxury brands thanks to the internet, along with increased spending power of tier II and tier III population are the major factors that are contributing to this boom.

Apart from these, the rules and regulations developed by the government to manage the luxury goods industry is attracting innumerable small and large luxury brands to India from all over the world. Not only this, the increasing competition has also ensured that the product quality of luxury goods has also improved remarkably today.

Aspects of Excellent Management in Luxury Industry:

The luxury retail industry is significantly different than conventional retail industry. The marketing and production aspects also differ from conventional ones for luxury goods and services.

After intense research studies, management experts found the 3 basic aspects that ensure effective, efficient and successful luxury brand management

Brands need to Express Beliefs:

Constantly talking about your brand will not be enough to increase brand value. Today, owing to increasing consumer awareness, your brand needs to express specific beliefs which appeal to the majority of your niche market.

 Look Beyond your Logo :

Normally, luxury brands tend to be visible through their easy-to-recognize logos. However, your brand image is more than that. It includes the entire set of visual icons (monograms, logos, colors, brand symbols, etc). The uniqueness of the product is also an excellent way to increase your brand awareness. With this, you may even forego using your logo as consumers will be able to identify your products simply based on their unique constant design or concept.

Creating Comprehensive Brand Experience:

Today, thanks to the increasing popularity of online shopping, luxury brands are facing tough competition in their brick-and-mortar stores. To fight this intense competition, luxury brands need to provide consumers with a wonderful user-experience. This is achieved easier when you design multi-functioning, controlled spaces to communicate, and create, brand belief effectively.

Choosing Luxury Management Courses:

Management students, especially those seeking to enter the lucrative Indian luxury market in executive positions benefit greatly with the right and relevant luxury management courses. Leading business schools in India, namely Luxury Connect Business School (LCBS) are renowned for providing not only the required theoretical material, but also provide hands-on training with renowned luxury brands through collaboration.

When you choose to enter into luxury management courses in Luxury Connect Business School you are on the verge of gaining immense knowledge about the dynamic and lucrative luxury goods and services industry. The opportunity to seek practical experience through training with popular luxury brands is an intrinsic part of LCBS management courses. It is an excellent chance to gain the most updated know-how from industrial leaders combined with an ability to gain practical day-to-day operational knowledge of the luxury industry.

With the atmosphere filled with enthusiasm you will get to learn more about brand design and brand management for numerous sectors, including automobiles, consumer electronics, accessories, etc. The luxury management courses are designed to provide students with the appropriate knowledge of the evolution of the luxury market, along with solutions for current and potential challenges that the luxury industry may face in the future.

Best PG in Retail Management - LCBS

Why Choose PG in Retail Management Today?

Retail management is more than just managing the day-to-day running of your brand. It is also about being aware of the changing market trends beforehand and taking effective steps to harness the excellent lucrative opportunities that a retail management professional gets in the field.

According to a report by India Brand Equity Foundation (IBEF)*, the Indian retail industry is one of the most dynamic and vibrant industries in the country. It contributes over 10% of India’s GDP, and provides employment to around 8% of its citizens. On a global scale, these factors have enabled India to become the 5th top location for retail industry.

Today, thousands of management professionals are looking to hone their skills by undertaking a PG in Retail Management from the top business schools in the country.

Retail Management is a part of Luxury Brand Management

In simple terms, retail management is responsible for helping customers to select the desired merchandise from retail stores for personal consumption. This process starts from the way you attract the customer to enter into your retail outlet to the time the customer is fully satisfied with their purchases. The luxury goods and services industry is one of the fastest growing markets in the world. This industry is exciting and filled with interesting opportunities for management professionals. As the industry caters to a niche target audience, PG in retail management is an essential part of luxury brand management courses today.

Retail management is extremely helpful as it helps to save time and ensure that the customers are able to locate the merchandise they require easily.

Fashion retail management is one of the top sub-industries within luxury retail industry. It involves learning principles of fashion marketing, merchandising, retail buying and imparting basic knowledge about the different fabrics used in luxury goods market. This course is effective for learning the concept of visual merchandising and helps to improve customer-retailer relationship, apart from focusing on better sales management and brand management.

What is the future in Retail Management like?

There are immensely impressive opportunities for management aspirants who have completed a PG in Retail Management from a renowned business management college.

With a burgeoning economy, the spending power of the individual consumer is increasing in India, which in turn means increased potential of sales of luxury goods and services in the country. The Indian retail market is known to be one of the most dynamic and fastest-growing markets in the world. There is an immense demand for qualified and well-trained management professionals in this industry.

Leading business schools in India are today aspiring to create a new generation of managers who have the potential to serve and succeed in numerous aspects of management in different industries.

What can you become after a PG in Retail Management?

Being a truly dynamic industry, retail sector consists of several sectors, which further include numerous renowned brands and companies. After successfully getting a PG in Retail Management, the candidate is eligible for numerous lucrative managerial positions, such as:

• Retail Manager
• Retail Buyer
• Analyst
• Marketing Executive
• Brand Manager
• Image Promoter
• Department Manager
• Store Manager
• Merchandiser
• Supply Chain Distributor
• Warehouse Manager
• Customer Care Executives
• Merchandise Manager

Where to get the best PG in Retail Management in India?

Although there are thousands of management colleges and business schools in India, only a handful of these are renowned for providing comprehensive and complete business management courses. Luxury Connect Business School (LCBS) is one of the leading business schools in India which offers an effective and excellent course for PG in retail management as part of luxury brand management, which is aimed at transforming aspiring business managers into successful retail professionals.

University Offering Luxury Business Management Courses - LCBS

When it comes to luxury goods market, India is gaining fast over other countries as being one of the most favorable and growing markets for luxury goods and services companies. With increasing spending power and spreading brand awareness in the country, larger numbers of consumers in India are now choosing to buy luxury goods and services.

According to a report by ASSOCHAM*, India is witnessing a significant growth in its economy which is leading to urbanization, and in turn, providing higher disposable income to consumers. Apart from these, the increasing presence of luxury retail brands spreading across the country has also helped to improve the Indian luxury consumer market remarkably.

The study also pointed that that Indian luxury brand market is set to experience a 5-fold growth in the next 3 years, with the number of millionaires in India expected to multiply thrice in the coming 5 years, from now.

These and other such factors are clear indicators of the immense potential that the luxury goods segment in India holds. With increasing competition, there is an immense need for highly-trained and proficient luxury business management professionals in the industry. Hence, there is a handful of leading university offering luxury business management courses and training.

 What does a Luxury Business Manager need?

The main responsibility of a luxury business manager is to attract a niche clientele towards their brand. Luxury brand normally has a significantly larger budget when it comes to advertising and marketing plans. Luxury brands are ready to use the latest and most expensive marketing tool to ensure that their brand gets the optimum level of exposure in the small, but highly-competitive, market segment. As compared to conventional business managers, luxury business managers need to be constantly involved in the corporate aspects. For this, they need to have immensely impressive qualifications, such as from a renowned university offering luxury business management courses, and a higher level of proficiency in performing their managerial tasks.

 What should Luxury Business Management courses offer?

A university offering Luxury Business Management courses need to teach the candidates the essential skills and knowledge which is required especially in the niche luxury market. Apart from learning the basic theoretical managerial skills, luxury business managers should also have decent exposure to the industry and its inner workings too.

Besides having a good grasp of general marketing strategies, production,and management skills, aspiring luxury business managers are also required to know and adopt innovative promotional techniques, which are best-suited and most effective for that particular brand.

 What does a Luxury Business Manager do?

Today, each luxury brand is looking to introduce their own form of strategy for marketing, based on the individual company’s profile. Larger luxury brands are seeking to employ management professionals who bring truly innovative and highly effective marketing and promotional strategies to the table. On the other hand, smaller luxury brands are looking for management professionals who can help them get a break in a new category of luxury goods consumption and help to increase their distribution network.

Although there are hundreds of top business schools and colleges in India, only a few of these are known to provide comprehensive theoretical and practical training. Luxury Connect Business School (LCBS), is among the leading institutes in India offering  Luxury Business Management courses as postgraduate curriculum. The institute not only provides in-depth knowledge about the luxury industry, but it also helps aspirants be better prepared with practical hands-on knowledge of conducting their potential managerial tasks with renowned luxury brands.

Scope in Fashion Post Luxury Management - Luxury Connect Business School

The global luxury goods and services industry is one of the most lucrative and competitive industries today. With improving economy, the earning power of the average Indian is significantly increasing. Apart from this, there has been a significant rise in the number of middle-class citizens in the country. These factors, along with others, combine to enable an atmosphere in India which has a high potential for the luxury brands.

Management students in scores are undertaking specialization management courses that are designed to specifically cater to the luxury goods and services industry. Fashion management is one of the most prominent parts of overall luxury brand management. In essence, it is a vital, but not the only, part of luxury management studies.

It is a common misconception amongst many to confuse these two as being separate. To understand what luxury management is and how fashion management forms an integral part of it, read on below.

What is Fashion Management all about?

Today, a PG in fashion management is considered to be an esteemed educational qualification. For many, studying for and passing a post graduate diploma course in fashion management is considered to be the peak educational achievement.

When you get admission into a PG in Fashion Management, these are some of the commonly taught subjects in it:

• Fashion Entrepreneurship
• Fashion Supply Chain Management
• Design Marketing Interactive Strategy
• Trend Forecasting for Art & Design
• Consumer Behavior in Fashion Industry
• Computer Applications in Fashion Industry
• Fashion Retail Management and Merchandizing
• Apparel Export Management and Merchandizing
• Apparel Quality Control
• Apparel Manufacturing, Production, Planning and Control

These and other subjects,taught generally in a PG in fashion management, are aimed at providing comprehensive knowledge to the students about the intricacies of the fashion business. Apart from making you a capable manager for a fashion outlet it also helps to improve your advertising skills which also qualify you to become a fashion marketing manager with a renowned fashion brand.

What is Luxury Management all about?

Luxury management, commonly known as ‘Luxury Brand Management’, denotes the comprehensive method to manage the minute aspects of managing luxury brands efficiently. Fashion management is one of the various parts of luxury brand management.

A PG in luxury management, from renowned business schools in India, such as Luxury Connect Business School (LCBS), enables students to have an exciting, interesting and vibrant career in a glamorous setting. In essence, the main aim of a PG in Luxury Management is to ensure that you are able to provide the perfect customer experience to luxury brand consumers.

This course will help to fine-tune your business and marketing skills at the same time. Apart from this, your managerial soft skills are also honed, which makes you an effective leader in the luxury industry.

According to management gurus, the best way to ensure optimal consumer retention in luxury goods and services market is to make sure that you customer always has the best experience with your brand. Hence, a natural flair for communication and rapport building comes immensely handy. You will also learn other essential skills, including service development, product design, media and brand experience. With this post graduate diploma course in luxury brand management, you will be able to get a competitive edge over the other aspiring management students.

Some of the industrial sectors which are open to you when you complete a PG in luxury management are:

• Fine dining, food and wine industry
• Personal luxury goods industry
• Luxury hotels and resorts
• Luxury airplanes, yachts, automobiles, etc
• Numerous other luxury good and service sectors

In these opulent industries, you will be able to be in a position to make revolutionary and truly path-breaking management decisions, such as:

• Brand/Marketing Manager
• Customer Service Manager
• Guest Relations/Concierge Manager
• Public Relation Executive

According to management experts, it is highly advised to choose a PG in luxury management, rather than go for only a PG in fashion management, as the former encompasses the entire luxury goods and services industry, while the latter is restricted to only the fashion industry, which makes a small part of the total luxury industry.