Keeping the contemporary lifestyles in mind, there should be no surprise to see the growth of the luxury industry. The market for luxury goods witnessed a growth of 5% in 2017. Good news is that this trend is expected to be there until 2020. Sales of luxury goods of the top companies have witnessed a growth of more than 15% in between the financial year 2014 and 2016. In such an inspiring scenario, it is obvious if more and more students show interest in luxury management studies.
A quick look into the contemporary luxury industry:
Luxury represents a wide range of products. There is no scarcity of luxury brands as well in modern times. Level of competition is obvious to be greater amidst such a wide range of brands. Specifically, the booming industries are making things tough for both the already established brands, as well as the start-up. Keeping this in view, proper management training is considered essential for running a luxury business. Moreover, someone associated with such luxury management responsibilities is considered essential to be well acquainted with it.
Just like you can’t develop a good technology product like an app, a gaming product, etc. if you are not used to with smartphones, gaming tools, etc., similarly, you can’t understand the choice of customers thoroughly if you don’t possess experience of enjoying luxury, being a luxury manager. However, it’s true that not everyone interested in making a career in the luxury industry is born rich. Hence, the best way available for these groups of people is always to join the top luxury programs offered at prestigious universities.
Feel the luxury before getting into it:
Be it about automobile, hospitality or fashion; luxury product segment is everywhere with every domain or product. Hence, one should first select the right industry that would match his/her expertise or knowledge. Moreover, one should select the right program as well, which gives greater scopes from career perspectives.
Luxury fashion styling, luxury entrepreneurship, luxury retail services, etc. are some of the programs those provide huge scope in India as well as across the globe. Top universities offer these programs as they can provide needful resources for students to experience the luxury, about which they will be working in the future.
Here the students are given extensive scopes of project handling, amidst the high-end luxury arrangements. As explained above, before pursuing a luxury program from a top institution, it is recommended to ensure that the same has resources to give you a real-time experience of the luxury world.
LCBS can be a nice example in this regard as they provide the opportunity of working in real-time business scenarios. To be specific, they make the students involved with the concerned department someone is interested in working with. No matter your preference is with marketing, research, logistic, or even the manufacturing segment of the luxury industry, the scope is in abundance with each.
LCBS has emerged as the leading academic facility for luxury items such as glamorous cars, high-end home decor, fashion industry and many others bringing better scope for placements with well-curated lesson plans and real-life experience.