India will soon be the fastest- growing market for luxury goods Worldwide. This can be easily witnessed with the rise of innumerable luxury brands entering India. This trend has opened doors of employment for the professionals who are well versed with the intricacies of the Luxury Industry. But before talking about career opportunities in the luxury market, let us first understand the meaning of Luxury Brand Management as a specialisation stream.
Luxury brand management is a commercial activity that aims at attracting and retaining customers for luxury brands without diluting the essence of the brand. The term also encompasses luxury brand repositioning, marketing, communications, research, logistics etc besides product extension. Luxury brands run across sectors like automobiles, malls, hotels & motels, restaurants & coffee shops, retail houses and export houses, fashion, watches & jewellery etc,.
Luxury brand management is not just about creating luxury brand awareness, but is also associated with narrating the story behind the brand. Building and delivering customer experience helps build the heritage & goodwill of the brand further.
Just a few years ago, luxury brand management was not so common. But, today there is a lot of exciting career opportunities in this field. The most common job that candidates look forward to join in this industry is a profile of a luxury brand manager.
Who is a Luxury Brand Manager?
A Luxury Brand Manager is responsible to curate strategies for the marketing of a luxury brand. Luxury brand managers work closely with teams that include creative agencies, marketing personnel, researchers and product developers to ensure that the image of a brand remains intact.
A Luxury Brand Manager conducts market research, organizes marketing campaigns, and manages distribution & planning of resources. In short, a luxury brand manager blends the right marketing campaigns to create and retain the brand identity. He is responsible to maintain the business without lowering of the brand ethos and value proposition.
What are the job responsibilities of a Luxury Brand Manager?
Luxury Brand Manager oversees the whole creative process for the marketing of a single product or a group of products and services. They employ innovative marketing methods to maintain the brand loyalty of existing customers. In a nut shell, he is the brand custodian who manages the business of the brand while keeping the brand persona and DNA intact.
Let’s understand the job responsibilities of a Luxury Brand Manager:
1. Rsearch about the consumer market: A luxury brand manager monitors the latest market trends and explores the potential areas where a brand should be positioned. They keep a check on the spending habits and needs of the customer and accordingly strategizes marketing planning to allure the audience.
2. Coordinates with marketing agencies: A luxury brand manager co-ordinates with various departments like – finance, marketing and R&D to support activities ensuring a strategic overview of the business and explores future market opportunities.
3. Comes up with names for existing and new services: The luxurious products and services are lavish in nature. They think about the ideas of upcoming launches that include fonts, colours, sizes and shapes.
4. Follows brand guidelines: A luxury brand manager makes sure that the messages and designs of the brand meets the regulatory guidelines set by the brand and liaisons with legal personnel and compliance.
4. Monitors consumer reaction: A luxury brand manager keeps an eye on the reactions of customers towards their products and services and accordingly plan out new marketing strategies to allure the senses of customers.
What is the eligibility to become a luxury brand manager?
No doubt, luxury brand management is a lucrative career and if you’re aspiring to become a luxury brand manager, the following points must be borne in mind:
1. Possess a degree: The candidate must hold a Bachelor’s degree in Luxury Brand Management or any other related course. However, the brands prefer candidates who have an MBA or master’s degree in a relevant luxury stream.
2. Good interpersonal skills: A candidate must have strong communication skills. They must be a team player and a respected leader. The person who is willing to become a luxury brand manager must have great presentation skills.
3. Strong analytical ability: A person must have strong attention to detail, possesses the ability to deliver innovative strategic solutions and handle budgets within prescribed standards.
4. Creative bent of mind: To become a successful luxury brand manager, a person must be creative. A person should be able to devise an innovative strategy to convince people to choose your brand.
5. Be updated with the new trends: The candidate must be informed about the latest happenings around within the industry and modify marketing strategies accordingly.
6. Past experience: A luxury brand manager must have experience of working with big luxury brands in various roles. Having dealt with the customer himself is a pre-requisite of the top most luxury brands. They must be acquainted with skills to take decisions instantly and manage a team at large. A person must have the ability to perform under pressure.
7. Leadership skills: A person must be mature and positive in attitude, so that he/she can boost the morale of their team members and drive better results from them.
8. Passionate about the field: You must be passionate about working as a Luxury Brand Manager. Instead of looking at the challenges you may face, you must look upon the opportunities that will help you grow in the future.
What are the courses to become a Luxury Brand Manager?
There are various institutions that offer many Graduate and Postgraduate courses to prepare an individual to serve a career in Luxury Industry. Luxury Connect Business School is one of the most renowned business schools that provide a global perspective about the luxury industry to the students.
Here are the courses provided by LCBS:
1. Luxury Brand Management Online Course: This course helps a person understand the complexities of the Luxury Matrix. The course curriculum acquaints a person with theoretical as well as practical scenarios of the industry and helps a person to envision their dream to become the new luxury superstar.
2. Executive Diploma in Luxury Management: This program provides you an opportunity to maintain close relations with the key players of the luxury industry. Students gain hands-on knowledge of the major aspects of luxury via active real- time participation and projects.
3. Post Gradate Diploma in Luxury Management: Post Graduate Diploma in Luxury Brand Management has been thoughtfully designed for the candidates who have been recently graduated and or have some experience in fashion & or retail sector, but want to move towards luxury. This program also includes a 3-month course term delivered by the faculty in Milan.
What are the Job Roles of a Luxury Brand Manager?
A Luxury Brand Manager can be hired for the given roles in corporate:
- Luxury Retail Manager
- Luxury Marketing Manager
- Luxury Sales Head
- Marketing Head in Luxury Retail Category
- Operations Manager in Luxury Brand Category
- Digital Marketing Head in Luxury Brand Business
- E-Commerce Manager for Luxury Brand
What is the scope of areas for Luxury Brand Managers?
Ample of opportunities are available for Luxury Brand Managers in India. Given are the common areas of employment for them:
- Wines and Spirits
Salary of a Luxury Brand Manager in India:
The salary of a Luxury Brand Manager depends upon the hiring company and the experience of a candidate. However, the average salary details of a Luxury Brand Manager in India are given below
|Job Profile||Years of Experience||Salary (in Rs.) (Approximately)|
Luxury Brand Manager
|1 – 3 Years|
5 – 7 Years
10 – 12 Years
|6 to 7 Lakhs|
13 – 14 Lakhs
25 – 30 Lakhs
A Luxury Brand Manager not only enjoys high perks, but they also get a chance to lead an upscale lifestyle besides maintaining close relations with renowned celebrities and industrialists. So, if you are also willing to pursue Brand Management Course, get in touch with us today. Luxury Connect Business School will give you a leading edge in the booming luxury market.
Q1. What is the average salary of a Luxury Brand Manager in India?
Ans. The average salary of a Luxury Brand Manager is Rs. 10 – 11 Lakhs.
Q2. Besides a good salary package, what are the other advantages of becoming a Luxury Brand Manager?
Ans. Luxury Brand Manager can live a glamorous life and maintain good networking with the influential people.
Q3. What is the difference between a Marketing Manager and a Luxury Brand Manager?
Ans. A Marketing Manager is the head of the marketing department who coordinates overall marketing strategies, whereas a luxury brand manager is the overall custodian of the brand. He is a mini CEO who is responsible for the entire business and profit/loss of the brand.
Q4. Does India have a good scope for a Luxury Brand Manager?
Ans. Yes, a lot of luxury brands have started investing in the Indian Market.
There is a huge demand building up for Indian luxury brand managers. Roles which were earlier reserved for westerners are now being opened up for Indians too.