Career in Luxury Brand Management by Shoyeb H. Cyclewala, Course Leader- Luxury Brand Management at Pearl Academy.
What is Luxury Brand Management
Luxury Brand Management imparts deep understanding of the Luxury industry and its management without forgetting the cultural and other relevant aesthetics. Luxury is not just about a brand, it is a combination of brand’s attributes, its identity, architecture and history – a spectrum of all these components make a brand stand out as a luxury brand.
How is it different from retail management
The basic premise of retail is to bring the customers into the store, fulfill their needs and live up to the client’s expectations. Retail Management, is to facilitate this process, which includes a gamut of functions like Merchandising, Marketing, Sales, CRM, Finance etc. and create an effective mix.
Luxury Brand Management on other hand includes all of the above and in addition it is about adopting further refined approach in terms of experiential quotient and customer satisfaction. Its facets are beyond conventional methods. Since luxury brands deal in expensive, rare & exclusive goods and services, the focus is on adopting new set of techniques to provide a seamless customer experience in a niche segment.
What are the skill sets required
Successful professionals in this field demonstrate the ability to operate in a highly competitive global context. An innovative and creative approach with a strong cultural perspective is the key. In addition, analytical and management skills are also important. An understanding of the luxury industry and passion to be associated with the best and the most elite segments will help an individual to innovate and excel.
What career path to expect
There are various career options that one can choose from. After graduation the aspirants can pursue their career as a Luxury Brand Manager, Luxury Marketer, Luxury Shopping consultant, Luxury Store Manager, Luxury Operations, Luxury Publicity and PR or Luxury Buyer and Merchandiser. With their knowledge and skill set candidates can potentially reach the top management levels. Students can also choose to be entrepreneurs in the domain of Luxury Brand Management. Luxury brands today, are in search of experts who can take the businesses and organizations to new heights and are looking for leaders with excellent skill set and innovative ideas.
What to expect from an institute
The institute or the course must offer a good understanding of abstract functionality of Luxury Brands. The course curriculum should offer in-depth understanding of various aspects such as different segments of goods and services, consumer behavior patterns in different parts of the world, in depth financial analysis and creation of luxury brands & success stories. Also, there should be a constant communication with industry, with regular Master classes and Ted talks from experts, which should provide students with actual industry insights. Moreover, a student should definitely consider the global learning opportunities, in addition to the faculty experience and employability provided by the institute before joining.
Know more about the course HERE