This is 2022! Gone are the days, when management programs were restricted to HR, Marketing, Finance or International Marketing. In recent times, luxury brand management has gained a lot of demand among management aspirants. Today, luxury brand managers have a key role to play in the fashion industry and retail management.
What is Luxury Brand Management?
Luxury brand management is the practice of maintaining quality luxury goods. This process focuses on delivering exceptional customer to the clients. It focuses on creating unique and unforgettable experience and employ promotional innovative marketing campaigns that help your brand outgrow competitors. The luxury brand management process includes analysing the target audience with in-depth research and strategise brand positioning to attract and retain customers.
What is the Future of Luxury Brand Management?
With the increasing purchasing power of people, luxury has become a significant part of modern lifestyle. People’s attraction towards luxury is getting bigger day by day. This trend is predicted to grow, bringing huge opportunities for people who are willing to pave the path for their career in luxury industry.
Infact, it is predicted that by the year 2035, millennials will be the largest spending generation to buy luxury products. This clearly indicates that luxury industry is going to be massive in coming time. There will be a lot of demand of individuals who understand luxury market and suggest best brand strategy to improve visibility among customers.
What are the Career Options in Luxury Brand Management?
Luxury brand management is evolving at a rapid pace. Starting a career in luxury brand management can help you fetch various kinds of roles based on your interest and expertise. Have a look:
- Luxury Brand Manager: In this role, a person is responsible to suggest effective brand strategy that attracts appropriate clientele. A person has to conduct market research, organize promotional campaigns, collaborate with different brand designers and supervise production.
- Fashion Retail Buyer: He/she decides what type of merchandise or luxury products, the fashion brand should sell. The person on this profile also analyses buying patterns, predict future sales and accordingly plan stocks.
- Fashion PR Specialist: A PR specialist has a task to maintain relationships with the media, so that a compelling brand strategy can be pushed out and spread awareness about the luxury products and services at a wider level.
- Product Marketing Manager: A product marketing manager helps brand closely scrutinise the entire development and production process. He/she also carries out the surveys to analyse customer demands.
How Much Will a Luxury Brand Manager Earn?
The salary of a luxury brand manager depends upon the industry trends, the budget of the hiring company and the experience of a candidate. However, the average salary of a luxury brand manager is 6 – 7 Lakhs. The experienced ones can fetch upto Rs. 12 Lakhs.
Best Colleges for Luxury Brand Management in India
MBA in Luxury Brand Management is a unique program that encourages students to excel in the luxury industry. It helps students to learn marketing and entrepreneurial skills to market a luxurious brand:
Here are the Nation’s best Luxury Brand Management Colleges
- SP Jain School of Global Management, Mumbai
- Pearl Academy, Delhi
- FAD International, Mumbai
- Luxury Connect Business School, Gurugram
- Indian Institute of Management, Ahmedabad
Why should you choose Luxury Connect Business School to pursue Luxury Brand Management Course?
LCBS is on a mission to enhance the skill landscape of luxury in India and other emerging markets. Our advanced courses bridge the rising gap of skilled talent.
Here are the reasons why should you choose Luxury Connect Business School?
- International Advantage: LCBS has collaborated with international universities to provide a global perspective to the students.
- Competitive Edge: Our courses’ curriculum is based on practical exposure that help students seek various job opportunities in high-end couture brands.
- Unique Experience: With global tie-ups, well experienced professors and experiential learning, we are proud of our international standards of education.
List of Luxury Brand Management Courses
Here are the top luxury brand management courses to pursue a great career in Luxury industry.
- Executive Diploma in Luxury Management – Online: This course helps develop managerial capabilities among the participants to lead future challenges in the Luxury industry.
- Masters in Luxury Management: It enables students to manage time and resources in accordance with the high pace of the fashion.
- Luxury Brand Management Online: In this course, we guide you through the intricacies of various subjects and helps you envision your dream of becoming the next luxury superstar.
- Luxury Brand Strategy Skills: It’s a newly launched program that helps the candidate innovate and develop business strategies specific to luxury, which is necessary for progressing in the ever-changing luxury market.
- Luxury Retail Services Skills: The program helps you successfully understand how to retain old customer and how to make a customer loyal to your brand. The program covers all the aspects required by professional personnel in a retail environment.