Studying The Luxury Life

With the advent and rapid growth of the luxury industry in the India, job opportunities are on a rise in this coveted field. With the industry being just about a decade old in the country right now, the time is ripe for expansion. Get to know more about the luxury management programs.

WHY SHOULD YOU STUDY LUXURY MANAGEMENT?

India has been reported to have the world’s fastest-growing population of millionaires right now. The number of millionaires in the country has grown from 196,000 to 250,000 in the past year. That is a 27% rise as compared to 2014. Wealth-X, which is the global authority on wealth intelligence, predicts as much as 437,000 Indiabased millionaires by 2018, and the number to have doubled by 2023.

They also note that the key indicators for India’s potential economic growth are its new reformist government, well- defined legal system, and the immense rise of entrepreneurship in the country.

Even in times of financial uncertainty, the growth rate of the Indian luxury industry has been tremendous. China is considered to be the largest growing market for luxury brands in Asia, and though India hasn’t taken over the title just yet, the diminishing sales in the Chinese luxury markets is a noteworthy detail to consider. The Indian luxe market is currently estimated at a whooping USD 7.8 billion, and is set to grow at a staggering rate of 86% in constant value terms between 2013 and 2018.

With the massive list of positive statistics, there is a huge need for managers who have an in-depth idea of the trends of the luxe industry. Armed with specialised management degrees in luxury, hordes of students are flocking to this new career option.

WHAT SEGMENTS CAN YOU PURSUE LUXURY BRAND MANAGEMENT IN?

The need for luxury-educated brand managers increased exponentially as luxury permeated across various segments like cars, fashion, wines, chocolates, spa services, jewellery, leather accessories, watches and more. A December 2011 survey report by Luxury Connect states that a trained manpower of 1.76 million would have been required by last year in  the luxe field.

What more, luxury brands have started spreading their operations to newer countries. A brand manager with a large luxury house is almost like the face of the brand in India or abroad, for example the Asia Pacific region or the Gulf area. A luxury brand manager is also required to continually question and redefine the lines of luxury. This is done by keeping the changing times, perceptions and tastes of the region’s public in mind.

WHERE SHOULD YOU STUDY LUXURY BRAND MANAGEMENT FROM? 

LUXURY CONNECT BUSINESS SCHOOL:
COURSE TITLE: Post Graduate Diploma in Luxury Management
DURATION: 16 months – 10 month academics + 6 month internship
LOCATION: Gurgaon
ELIGIBILITY: Graduation Degree in any stream

PEARL ACADEMY:
COURSE TITLE: Post Graduate Diploma in Luxury Brands
DURATION: 2 years
LOCATION: Delhi NCR, Mumbai
ELIGIBILITY: Graduation Degree in any stream

FAD:
COURSE TITLE: One Year International Post Graduate Programme in Fashion with specialization in Luxury & Brand Management
DURATION: 1 year
LOCATION: Mumbai, Pune
ELIGIBILITY: Graduates or 2/3 Year Diploma holders in any stream.

RAFFLES:
COURSE TITLE: Advanced Diploma in Fashion Marketing and Luxury Brand Management
DURATION: 2 years
LOCATION: Mumbai
ELIGIBILITY: Graduation Degree in any stream

MISB BOCCONI:
COURSE TITLE: Post Graduate Program in Business (PGPB)
DURATION: 22 months
LOCATION: Mumbai
ELIGIBILITY: Graduation Degree + CAT, X AT, CMAT, GMAT, GRE or MISB Bocconi entrance test

INTERNATIONAL:

ESSEC BUSINESS SCHOOL:
COURSE TITLE: MBA in Luxury Brand Management
DURATION: 11 months
LOCATION: Paris
ELIGIBILITY: Graduation Degree in any stream, 3 years of quality postgraduate work experience and
GMAT, IELTS/TOEFL
FEES: Around Rs. 12,00,000

SDA BOCCONI SCHOOL OF MANAGEMENT:
COURSE TITLE: Full-time MBA with Track in Luxury Business  Management (LBM)
DURATION: 1 year
LOCATION: Milan
ELIGIBILITY: GMAT/GRE, Graduation Degree in any stream, 2-5 years of work experience, IELTS/
TOEFL
FEES: Around Rs. 19,00,000

NYU STERN SCHOOL OF BUSINESS, NEW YORK UNIVERSITY
COURSE TITLE: Full-time MBA with specialization in Advanced Luxury Marketing
DURATION: 2 years
LOCATION: New York
ELIGIBILITY: GMAT/GRE, TOEFL, Graduation Degree in any stream
FEES: Around Rs. 37,00,000

UNIVERSITY OF ST GALLEN:
COURSE TITLE: Full-time MBA with an elective in Luxury Insights
DURATION: 18 months
LOCATION: Switzerland
ELIGIBILITY: Graduation Degree in any stream, TOEFL/IELTS and GMAT
FEES: Around Rs. 5,00,000

HEC PARIS:
COURSE TITLE: Executive MBA with a Luxury Major
DURATION: 16 months
LOCATION: Paris
ELIGIBILITY: Graduation Degree in any stream, TOEFL/IELTS and GMAT/GRE
FEES: Around Rs. 15,00,000

LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE:
COURSE TITLE: MBA with an elective in Luxury Management
DURATION: 12 months
LOCATION: UK
ELIGIBILITY: Graduation Degree in any stream, TOEFL/IELTS and GMAT/GRE
FEES: Around Rs. 20,00,000

ESADE BUSINESS SCHOOL:
COURSE TITLE: Full-time MBA with a specialization in Luxury
DURATION: 10 months
LOCATION: Spain
ELIGIBILITY: Graduation Degree in any stream, TOEFL/IELTS and GMAT/GRE
FEES: Around Rs. 14,00,000

ESCP EUROPE
COURSE TITLE: MBA with an elective in luxury brand management
DURATION: 2 years
LOCATION: France, UK, Germany, Spain, Italy
ELIGIBILITY: Graduation Degree in any stream, TOEFL/IELTS and Admission test
FEES: Around Rs. 13,00,000.