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.

Part Time Program in Luxury Brand Management - Luxury Connect Business School

Are you bored of the monotony of your job? Being a management professional, do you wish to have an exciting and dynamic job profile in an interesting industry? Then a career in luxury brand management might just be the opportunity you have been waiting for.

The global and Indian luxury goods and services market is one of the fastest growing markets and the most dynamic ones today. According to a report by ASSOCHAM*, the Indian luxury market is set to increase to an astonishing USD 30 billion by year-end, from the present estimated USD 23.7 billion. The factors responsible mainly for this intense increase are said to be the growing brand awareness amongst Indian youth, along with increased spending power of the growing upper class, especially in Tier II and Tier III cities. Furthermore, the burgeoning economy, coupled with increasing urbanization and improving purchasing power from higher disposable incomes are the specific factors that are contributing to the growing luxury goods and services market in the country.

Such news is resulting in increasing awareness about the lucrative opportunities that the Indian luxury market segment is providing to aspiring management professionals. Not only management students but professionals who already work in managerial positions are seeking to enter into the luxury goods and services market in India.

Leading business schools in India have already formed several courses that help luxury industry aspirants enter, and thrive, in the Indian luxury market, such as providing a part-time program in luxury brand management.

What do I need to have for a career in Luxury Brand Management?

Basically, a flair for management and a passion for the industry are the two main characteristics that are helpful for a career in management of any kind. For an aspirant seeking to enter the luxury brand market, these are some of the skills that should be there in the person:

• Passion for the luxury industry
• Being updated with the latest trends and fashions in the luxury goods and services market
• Having an eye-for-detail
• Efficient business skills
• Noticeable communications skills and project management ability

What is the scope of a career in Luxury Brand Management?

When you successfully get certification or diploma  in luxury brand management from any leading business school in India, there are immense and diverse job opportunities that come your way, including:

Luxury Brand Manager – These managers require being constantly in touch with all the relevant departments, while the main aim is to develop an effective marketing strategy to target the niche consumer market. Overall, a luxury brand manager is responsible for creating a message and an image for your brand which represents its true values and is easy to recognize anywhere.

Luxury Goods Product Manager – These managers are responsible for production planning and execution at every stage. It begins with conducting market surveys to learn about the current consumer trends and preferences. You will also be responsible for ensuring that the entire production process runs optimally and the product is up to the high standards of quality set by your brand for complete customer satisfaction.

It is very important to select the best-suited and most effective program in luxury brand management to ensure a bright career in the future. Known among the Leading business schools, Luxury Connect Business School (LCBS), is an expert in providing the necessary skills and training to become a successful luxury brand manager for globally renowned luxury goods and services brands. It has long-standing industry relations with many top  luxury brands, and  it  provides  hands-on experience to his students  in the real  environment.