How A Career in Luxury Brand Management Can Change Your Life?
Do you want to work in a creative business connected to the fashion industry that is enjoyable and challenging? Are you tired of seeing people working from 9 to 5 all the time? If so, you might want to think about pursuing a Bachelor's or Master's degree in luxury goods and fashion.
The market for luxury goods and clothing is cutthroat and expanding quickly. You will learn about luxury goods management, fashion research, trend forecasting, marketing, retail management, and brand management by earning a degree in luxury goods and fashion.
After graduating, you can work with famous personalities from the luxury goods and fashion industries as a fashion brand manager or fashion PR professional. Can you picture yourself managing the reputation of a well-known company like Gucci or Chanel or managing the manufacturing and production teams for the Cartier jewelry line or Hermes handbags?
Continue reading to learn more about the course and how you can land your dream job!
Why study luxury brand management?
Luxury is more than just the consumption of a brand; it is also the brand's greatness, heritage, and legacy. Companies have been able to offer more to their services and goods by delivering intangible qualities and deeper meanings to their target audience. The industry has frequently been associated with the desire to show one's status. Previously, it was connected with tangible items; however, it is now more about one-of-a-kind experiences.
A specialized degree in luxury brand management is a new addition to higher education, but institutions have developed great programs capable of properly educating their students for a successful career in the luxury market. With this degree, you will be able to regularly exercise your imagination while working with leading organizations in a variety of areas, including travel, autos, fragrances, and fashion.
Elite pay is one of the biggest perks of working in an elite business. A position at a luxury brand might lead to the opulent lifestyle that many individuals desire.
A degree in luxury management will teach you everything from the fundamentals of luxury to the complexities of the luxury chain and distribution. You will study what attracts buyers to premium brands, as well as the importance of brand expression and innovation. The degree also covers fundamental subjects like product design, pricing, and strategy.
These programs frequently provide employment at well-known companies as well as the ability to see how established enterprises operate. Students often collaborate with subject matter experts on specialized projects, gaining significant industry experience.
Why is this field a great fit for you?
You have the primary traits required to develop in the sector if you are enthusiastic about fashion and truly believe in the value of luxury items. Understanding that when a client buys from a luxury company, they are purchasing a dream is crucial to understanding how and why the sector operates.
Luxury fashion is more than just selling costly items made of marginally superior materials. It's doing the unexpected and showing your consumers something they never dreamed was possible. Balancing creativity and commerce may be a complex undertaking. The only way to achieve this is to be guided by your enthusiasm and to continually remind yourself why your job is important.
The never-ending future of this profession
Despite the current economic downturn, the demand for luxury goods and services has grown consistently. The luxury market is developing, with new companies appearing every year and a growing client base. As a result, the demand for specialist professionals grows.
The expansion of the firm and the attractive employment opportunities have consistently drawn more people to the luxury industry. Working with elite firms with offices worldwide and partnering with prominent celebrities and well-known names may provide you with worldwide exposure.
You can pursue a variety of careers with this degree, including luxury brand manager, brand strategist, communications manager, customer relations manager, marketing director, and fashion retail manager. The possibilities are endless, and you will undoubtedly find a position that matches your profile.
Levels of education
Luxury brand management courses are available at various levels of schooling. You may either study luxury brand management immediately after graduating from high school or dabble in it after completing your undergraduate degree.
Let's have a look at the many luxury brand management courses offered at various levels.
You can apply to any of the below luxury brand management bachelor's programs:
- BS in Luxury Brand Marketing and Management
- Bachelor Luxury – Trade Trades
- BBA in Luxury Brand Management
- Bachelor in Fashion and Luxury Retail Management
- Bachelor of Events, Luxury Marketing
- International Business Management Studies in Luxury Goods
The following master's programs in luxury brand management are available:
- Master of Science in Fashion & Luxury Marketing
- Master in Fashion and Luxury Industry Business
- MSc Marketing with Luxury Brands
- MBA in Luxury Brand Management
- Master in Premium Design Management
- International Master in Luxury Management
Best countries to study luxury brand management
A golden dream is to lead the luxury goods sector as a luxury brand manager. You need top-notch education from top-notch institutions to get to that point. Always be financially prepared before enrolling in a reputable luxury brand management school.
Let's look at the top nations for studying luxury brand management:
France is synonymous with luxury, and it's no surprise considering that it's the origin of some of the world's most famous companies, like Hermès, Cartier, and Novotel. These are some of the top French upmarket and premium companies in the jewelry, fashion accessories, and hospitality industries. Pursuing luxury brand management courses in France can help you build top-tier talents in marketing, management, design, advertising, and consumer insights.
If you want to work with well-known brands such as Ferrari, Dior, Versace, and others, pursuing a degree in luxury brand management in France is an excellent option. In France, the typical income for a luxury brand manager ranges from 35,600EUR to 123,000EUR per year.
Germany is an excellent choice for students wishing to begin or continue their education in management. Many luxury automobiles are made and designed in Germany, and students may learn more about the industrial sector by pursuing higher education in this nation. Another advantage of studying in this nation is that one may live at a low cost because the country's public institutions give education with minimal tuition fees. Individuals can study the MA in fashion and luxury management instead of pursuing a Masters in Fashion management in Germany or Luxury brand management courses in Germany.
The United Kingdom is a good choice for students interested in working in large-scale enterprises. Students chose the UK for its environment, education at globally recognized universities, and cultural immersion. Many institutions in the United Kingdom offer luxury management and fashion retail degrees.
Until a few years ago, luxury brand management was a non-existent industry, at least on the surface. However, there are now intriguing employment prospects available for people with a degree in this subject. The best approach to define such management is as an interdisciplinary discipline that applies time-tested management methods to organizations and enterprises that provide premium services.
A luxury manager is the most prevalent career for persons with a degree in luxury brand management. He or she is in charge of doing market research for all target items, as well as supervising and arranging advertising campaigns.
All the professions that someone with a degree in luxury brand management can pursue include:
1. Luxury Brand Manager
You will maintain regular communication with all departments, and your major goal will be to build an efficient marketing plan to acquire a certain customer. Essentially, your objective will be to generate a message and an image for the specific business you're promoting that is immediately recognized and sticks with the audience.
Your major responsibilities will be to:
- Do consumer research for future goods to be marketed
- Plan and arrange advertising campaigns
- Budgets for marketing initiatives are proposed and analyzed.
- Interact with advertising firms and corporate leaders
- Work cooperatively with brand designers and makers
- Supervising marketing, production, and manufacturing personnel
2. Fashion Brand/Luxury Goods Product Manager
A product management position in the fashion and luxury goods business will place you in charge of product planning and execution at all levels. The first stage is to do market research to determine what the client desires.
Whether you work for clothes, fashion accessories, or footwear brands, you will be responsible for overseeing the whole development and production process of the company's products and ensuring that they fulfill the needs of the customers.
Product managers collaborate with the product design, quality assurance, sales, and marketing departments, as well as the factories, to oversee the manufacturing process.
3. Fashion Retail Buyer
A retail buyer performs precisely what the term implies: you will be in charge of choosing what type of things to sell at a fashion or luxury goods store. You must ensure that the appropriate goods (clothes, shoes, accessories, etc.) are available in stores at the appropriate time and that there are enough pieces to meet client demand.
As a retail buyer, your core roles will be:
- examine purchasing habits and forecast future sales trends
- examine many performance metrics such as sales and discount levels
- control stock-level plans
- meet with suppliers, keep in touch with them, and discuss contract terms
4. Fashion PR Specialist
The work of a public relations professional in the fashion sector is similar to that of any other industry, but you will have the added benefit of working with internationally recognized celebrities such as models, actresses, and singers. You will get the opportunity to attend fashion shows, red carpet events, award ceremonies, and other such events.
A fashion public relations specialist must:
- maintain close touch with the media in order to maintain an appealing brand image for your company
- network and maintain strong ties with editors who write stories about the firm for big fashion publications
- address customer concerns and keep them satisfied
Dare to break into the fashion industry!
The careers you can pursue after earning a degree in Luxury Goods and Fashion are not exclusive to those listed above. You can also work as a customer care agent, sales consultant, or visual merchandising manager for a fashion house or luxury brand, among many other positions.
Most often, you won't start off as a brand or product manager; instead, you'll need to gain experience in lower-level roles before moving up to the top management positions. But if you continue and demonstrate that you are excellent, you will rise to the top of the fashion world and breathe fresh life into this gorgeous and rapidly expanding sector.