Scope of Luxury Brand Management - Luxury Program

A profession in luxury brand management requires a comprehensive study of various brands and the capacity to connect with special showcase fragments. Luxury brand management now offers lucrative opportunities. If you are one of the individuals who can see past money and respect the lineage of a brand, a career in luxury brand management will be fulfilling for you.

Luxury Brand manager :

The essential part of a luxury brand administrator is to comprehend the legacy and history of the brand and to connect to the customers. This individual is mostly in charge of keeping the brand famous while holding its restrictiveness, i.e. guaranteeing that the brand maintains its popularity and is a preferred choice among both- the marketers and the customers.

 Scope and sectors :

Premium sections like Custom Autos, fashion, wines, chocolates, spa services, jewellery, leather industries, watches, signature pens, and so forth have landed on Indian shores and need luxury brand managers.

With luxury brands spreading operations to more and more nations, as a brand manager at a substantial luxury brand house, you can be the face of the brand in India, dealing with the organization's operations and client relations in at specific locale. In this manner, a luxury brand manager needs to continually address and rethink the forms of luxury; keeping a tab on the evolving trends, observations, and tastes of the areas and furthermore, frequently giving configuration support to country limited product offerings.

In India, one can begin off as an official and climb the positions to wind up accountable for select brand showrooms. With experience, one can hope to deal with the brands' provincial business extensions, sort out prestigious occasions to advertise the brand, create special crusades and scout for a famous brand representative among different popular stars. The more ambitious ones can even take in the little-known techniques and go ahead to glide their own organizations later on.

Global Management Program for Executives in Luxury Management is offered by IIM Ahmadabad in a tie-up with the ESSEC Business School Paris. Experts at the official level can go for this program with an intend to   deeply understand the specificities of a luxury business and , the explore possibilities to open doors in developing markets. Members of the program will get prepared at ESSEC Paris where they get the opportunity to associate with the workforce, graduate class, visit global fashion houses and luxury business houses and much more.

Salary :

Trainee and official brand directors begin at Rs 50, 000 a month and can anticipate perks like cash rewards or gift incentives such as paid trips, getaways, dinners at five-star hotels and exposure to prominent people. The perks of this profession far exceed the compensation.

Luxury brand management is offered as an undergrad course and as a PG specialization course in various European universities

MBA in Luxury Brand Management: How much will it cost in India?

The luxury industry is a booming sector in India, and top B-schools are offering MBA degree in luxury brand management in collaboration with top universities and international luxury brands. The course allows students to earn a high-quality education and achieve remarkable career goals.

Considering all the benefits of pursuing MBA in luxury brand management, most Indian aspirants are looking forward to attaining the qualifications but at a reasonable fee structure. Since this course is a holy grail towards great career accomplishment, lots of students want to compare the degrees offered by different institutes in India.

Why the cost of Luxury Brand Management degree justified?

If you relate MBA to a high amount of fee, you must know what facilities and infrastructure you can avail for the next two years in the college. You can make an assessment based on following factors:

·         Cost of MBA: The most significant cost to decide your career path is the amount you are going to spend as tuition fee. Be ready to spend an average of Rs. 20-25 Lakh if you want to pursue MBA in luxury brand management. Students who can’t afford the higher fee levels can avail education loan from various banks.

·   Your living expenses: The MBA cost may increase because of your living expenses if you are pursuing a two-year residential program in a place far from your home. However, you can also appear from executive programs to avoid the higher cost of living.

·    Preparation cost: MBA is the most sought after career program in India. Therefore, an average student needs to spend a considerate amount in preparation. For instance, you can add an estimate of Rs 25000-30000 to your MBA cost for preparation of GMAT, written exam, interviews and essay writing.

·       Opportunity cost: All good things come with a price. The cost of doing an MBA varies according to the cost of the foregone salary and professional experience. Do not just evaluate the cost of doing MBA with its higher fee levels; you must consider the opportunity cost and evaluate the fee with its future value. The amount you are going to invest in the MBA fee and cost of living while doing the degree would become an asset to give you exciting returns throughout your life, even at the age of retirement.

Look at the long term opportunities associated with Luxury Brand Management degree

The fee structure and other costs associated with your MBA degree will obviously impact your life. Aspirants need both financial and emotional support to make the career decision. Make sure you don’t evaluate only the short-term costs of doing an MBA. Consider the impact of MBA in luxury brand management on your personal finances with aspect to the long term.

Once you consider the long-term benefits of doing MBA, the advantage will definitely outweigh the fee structure. Make an informed decision to pick the best institute where you are going spend the next two important years of your life. Luxury Connect Business School is a viable option if you are looking for a decent MBA degree in luxury brand management. The institute provides great opportunity to maximize the ROI of doing an MBA.