Luxury is a recession proof sector which has been constantly evolving over the decades.
With the growing number of millionaires in India, internationals luxury giants are queuing up to woo the Indian audiences.
Luxury brand management can be best described as an interdisciplinary subject that applies time-tested management practices to businesses that offer premium services. The treatment of these basic principles when handling luxury goods and services take a completely new dimension much beyond just normal innovation. The primary role of a luxury brand manager is to understand the heritage and history of the brand and to communicate / map associate the Brands’ DNA values with a potential set of clients. This person is responsible for the sometimes difficult task of keeping the brand popular while retaining its exclusivity, i.e. ensuring that the brand remains a popular and favoured choice amongst both - the aspirers of luxury in terms of desire, and the elite in terms of purchase.
The career prospects offered by the luxury industry in India are so vast, yet the majority is unaware about the situation of this exquisite segment which lacks efficiency in terms of human resource. Luxury products and services are openly available but the right skills to pitch, manage, operate, market and sell them is an area with untapped potential. The number of management programs in India are enormous but they hardly cater to the untapped potential of luxury brand management careers. The luxury goods and fashion industry is competitive, and growing at a fast rate. A degree in luxury brand management will teach you about luxury goods management, fashion research, trend forecasting, marketing, retail management and brand management. In order to truly connect with luxury, one must know how to manage it.
It is an industry with diverse fields which compliment the exquisite art of living. It is not about a career choice, it is a choice to do something outlandish with your life. It is a field which gives room for professional as well as personal progression. The lifestyle change begins from day one when an individual starts working in a given section of this field. Hospitality & Travel are the backbone of the luxury industry, being the epitome of customer experience. The skills one acquires in this sector work as a catalyst to deal with customers in other luxury sectors. Real Estate & Furnishings involve high profile clientele based strategies with an exposure towards handling finances and legal fronts with a sound learning in architecture and design in demand. Retail involves a very unique blend of marketing strategies surrounding customer exclusivity. Other sector like automobiles, fashion, accessories, gyms & spas etc., they all follow the same decorum of this opulent industry which treats its customers like royalty. One has an array of paths to choose from, depending on their expertise. One can use this expertise and benefit from it in a different field. The luxury sectors are interconnected and hence offer a diverse career path with fruitful rewards.
The core essence of the luxury experience emerges from attention to detail, comfort, aesthetics, innovation, opulence with a mix of other tangent and in-tangent factors. A certified luxury brand manager must have the background knowledge, specialized training and most importantly, the will to immaculately foster these things into luxury retail and services. It is nothing short of an art that needs to be mastered with perfection. It is a discipline which transcends conventional education and needs dedicated ingenuity to and administers practical learning for the upper level hierarchy.. The executive program in luxury brand management a LCBS has all these areas covered in it's curriculum that are essential to manage and execute decisions on which a luxury brand relies on.
*Either the brands have attended our training programs or are our recruitment partners