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.
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