Luxury industry is one of the most flourishing industries of recent times. Due to COVID-19 pandemic, it is one of the first industries to take a hit in times of crisis. However, it has proved to be resilient throughout this period. This industry is bouncing back more strongly than anyone could have anticipated. Instilled with ethos of craftsmanship and timelessness, luxury industry inspires us to lead to value-led experiences. It gives a meaningful contribution to their lifestyles, bringing an optimistic change in the World.
The stories of luxury brand are worth listening, which is why young generation is inclining towards this industry. They enrol themselves to various diploma courses and graduate level courses. Students who want to attain in-depth knowledge about luxury brand management industry must pursue Masters in luxury brand management course.
What is Masters in Luxury Brand Management?
Masters in Luxury Brand Management in India is a postgraduate diploma. The course equips one with knowledge and skills to sell and manage luxurious goods to accelerate sales of a brand. The course builds a professional who possesses the right talent to manage production area of fashion and luxury products. The four semester academic program covers diverse range of luxury sectors including hotels, resorts, malls, fine dining and wine.
The course provides relevant insights to operate in the rich and challenging context of luxury industries. It masters you with relevant tools and strategies to thrive as a decisive leader in the global luxury market.
Benefits of pursuing Masters in Luxury Brand Management course
Masters in Luxury Brand Managementin India helps gain new skills or even transit to entirely new field. Here are the advantages of pursuing Masters in Luxury Brand Management course:
1. Specialized knowledge: Earning a master’s degree in luxury brand management helps you gain specialized knowledge in your field. It enhances your expertise and credibility into luxury brand management industry. This provides you competitive edge in comparison to other job seekers in luxury industry.
2. Career expansion: With Masters in Luxury Brand Management degree, the scope of career expands immensely. From warehousing to logistics to PR to finance to CRM and marketing, you get a chance to explore varied industries. Your profound knowledge about luxury brands allows you to work in premier luxury industries.
3. Grab high level positions: MBA is luxury brand management gives you an opportunity to work on high level positions and manage high end jobs like – rebranding a service or delivering messages through all the new channels.
4. Lifelong learning potential: A Master’s degree allows you to improve your researching, writing and analyzing skill set. You become a better problem solver and can easily tackle the uncertain scenarios. You continually expand a wealth of knowledge in luxury industry and constant learning becomes your habit.
5. Global exposure: The curriculum of Masters in Luxury Brand Management course helps one analyze the market demand, target audience and consumer behaviour in a better way. You understand the scenario of luxury industry across the World.
Eligibility criteria to join Masters in Luxury Brand Management course
50 – 55% in Graduation degree from any stream
- Good communication skills
- Pleasing personality
- Command over spoken English
- Attention to detail
- Knowledge of a foreign language is an added advantage, but not compulsory
- Merit based admission, some colleges organize entrance test
- Aptitude test
- Personal interview
Job designations after pursuing Master’s degree in Luxury Brand Management
The Master’s course in luxury brand management is a gateway to reputed job designations. Let’s look at them one by one:
1. Luxury brand manager: Luxury brand managers maintain brand integrity. They are responsible for maintaining and building luxury brand integrity in consumer’s minds through advertising, marketing and media. They have to supervise a team of junior assistants and manage budget.
Starting salary: Rs. 400,000 – Rs. 6, 00,000
2. Luxury marketing manager: Luxury marketing managers help promote products and services by developing detailed marketing plans for meeting consumer needs. They analyse the strategies of the market, conduct market research, manage & organize promotional campaigns, analyze marketing budgets and collaborate with brand designers and creators.
Average Salary Package: Rs. 4, 50, 000 – Rs. 6, 50,000
3. Senior luxury marketing manager: Senior marketing managers examine the teammates of the company’s marketing department, ensure that they effectively promote the brand and target audience by developing effective marketing strategies.
Average Salary Package: Rs. 5, 00,000 to Rs. 7, 00,000
4. Luxury PR specialist: A Luxury PR specialist has to maintain relationships with the media to make sure that the brand image is well positioned within the industry. Your responsibilities as a Luxury PR specialist would include networking with fashion magazine writers, editors, YouTubers to build brand value among the target market.
Average Salary Package: Rs. 4, 00, 000 to Rs. 8, 00,000
5. Luxury Retail Buyer: A luxury retail buyer is in charge of deciding what kinds of merchandise a fashion brand manager must sell. As a luxury retail buyer, you need to take care of several considerations, for example – whether the right merchandise is available in the store or if there are enough items of a product to fulfil customer demand. A luxury retail buyer has to analyze buying patterns, plan stocks and predict sales.
Average Salary Package: Rs. 4, 00,000 to Rs. 6, 50,000
Top recruiting areas
- Fine dining
- Luxury travel
- Luxury personal care
- Hotels, motels and resorts
- Fashion & accessories
- Watches & jewellery
- Wines and spirits
Best institute to pursue Masters in Luxury Brand Management
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