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.
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