The Induction Sessions: Entering The Luxury World

By: Sunil Rana

Finally after six months of thinking I finally decided to take up the luxury management course. Luxury is a very promising industry to work in. As India is progressing gradually since the last decade or so . So the income of Indian people has gradually risen up and the global exposure has broaden the minds in every segment. Talking about luxury, the people of our country are slowly understanding the different segments of luxury and are willing to experience it. So, to sum up India is becoming a new market place for the luxury industry. That’s one of the reason I have decided to take up this course. And I joined the Luxury connect school, a school which has solely achieved its name as one of the emerging schools who provide courses in retail and luxury management. The faculty is experienced and they have been a part of the luxury industry for a long time . They know this young industry very well inside out. So taking about the topic I that this blog is about “the induction sessions.” LCBS had a three day induction program unlike any other college because usually the induction is for one day only. So ,they have divided the whole induction in 3 days.

The First Day:

1st day is the introductions day. 2nd is the luxury industry visit and third is presentation to be given about the luxury industry visit and guest visit. Sounds interesting? Yes, indeed it was more interesting than said. So in the 1st day there was a general introduction of the students with each other and with Mr. Abhay Gupta and Mr. Rajat Bhattacharya. I found Mr. Abhay and Mr. Rajat very knowledgeable , experienced in their respective field yet humble and down to earth personalities. They welcomed us warmly in the LCBS family. After that an ice breaking session with the senior batch . It was really fruitful because we, juniors learnt a lot of things. 

The Second Day:

The 2nd day was the best day as we had out 1st luxury industry visit. The faculty had carefully chosen four different luxury sectors which are very new to the Indian market and are giving a new definition of luxury. We went to Truefitt and Hill, Audi, Ireo Grand Hyatt residences and the Rosette hotel. All were different from each other in every respect. The purpose of the visit was to make the students understand and break the basic thought of thinking only fashion industry as luxury and make them realize that there’s a lot more sectors which define luxury industry. I really liked Truefitt and Hill and Oreo apartments. Truefitt and Hill is a British luxury men’s exclusive grooming salon. It is really a new thing for the Indian people to experience. 45 minutes shave, 1 hour hair cut , royal suite( suite that can be booked individually for taking personal services ) are their unique services that they offer. I personally see this salon as a big hit in Indian market because even Indian men especially the young have stepped up their grooming game and they surely will be trying this salon of they get come to know of it. My other favourite sector was the ireo apartments. Ireo is an Indian construction company . Together in collaboration with the Grand Hyatt they are building for the 1st time in India one of a kind luxury apartments which would be equal to the world standards. We visited one of their apartment it was world class. I find it really an emerging luxury real estate sector there.

The Final Day. 

On the last day we were to present a report about what we observed and felt while visiting those different sectors. Each and every student shared his/her experience. And we all learnt something more. After that ,there was an industry connect session with some honourable people from the luxury industry. They shared their experiences with us and told us various things about the dos and don’ts of the industry. 

So, I can say that 3 day induction sounds a bit weird . But the purpose of LCBS was very beneficial to its students to make them understand the basics of luxury in those 3 days. And we, students learnt a lot from this induction. I am really glad to be a part of this institution . And I really hope that I would make the most of this and get a successful career in the emerging luxury Industry of India. 

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.