Luxury brand managers promote luxury branded goods and services across existing and emerging markets. As more and more people around the world are becoming interested and financially able to own branded luxury goods, new luxury brands are employing innovative marketing and promotional methods to acquire new customers that is challenging the position of the established brands. In turn, the bigger and more established brands are exploring new markets. To further their businesses, luxury brands are employing experts (luxury brand managers) who can customize approaches to maintain brand loyalty of existing customers through exclusive offers and deals, and also build customer base in new territories.This is what luxury brand management is- an interdisciplinary subject that applies management best practices to premium service providing businesses.
To become a luxury brand manager, you must have a bachelor’s degree in either business, consumer psychology, luxury brand management, marketing, hospitality or fashion management. Luxury brand management is a specialization at the master’s level at most universities across the world. Employers also prefer to hire managers with a master’s in marketing or business and a few years of related work experience.
Europe being the hub of luxury brands is the best continent to pursue a course in this field. Most courses in this field are at the postgraduate level, although there are some colleges which offer a BA degree as well. ESSEC Business School in Paris offers an 11 month MBA in Luxury Brand Management course. To be eligible for this course, aspirants must have a graduate degree in any stream and 3 years of quality postgraduate work experience. SDA Bocconi School of Management, Milan also has a 1 year full-time MBA with Track in Luxury Business Management (LBM). 2 to 5 years of work experience is a prerequisite for admission to this course. The University of St.Gallen in Switzerland offers an 18 months full-time MBA with an elective in Luxury Insights. Other institutes and universities in Europe like HEC- Paris, ESADE Business School in Barcelona, Spain and the ESCP Europe Business School also offer postgraduate/MBA degrees in luxury brand management.
In the US, Parsons - The New School for Design offers a 4 years undergraduate Fashion Marketing (AAS) course. The NYU Stern School of Business, New York University has a 2 years full-time MBA with specialization in Advanced Luxury Marketing. The Rhode Island School of Design also offers similar courses.
In India, the Luxury Connect Business School, Gurgaon offers a 16 months (10 month academics + 6 month internship) Post Graduate Diploma in Luxury Management course. The Pearl Academy has a 3 years B.A. Global Luxury Brand Management course and also offers a 2 years Post Graduate Diploma in Luxury Brands course. S P Jain School of Global Management has a 1 year Masters in Global Luxury Management program with the opportunity to spend at least one term in Milan. International College for Girls (The IIS University) has a 3 years B.A. Advertising & Brand Management course. Raffles has a 2 years Advanced Diploma in Fashion Marketing and Luxury Brand Management course. The FAD Academy, Mumbai offers a one year International Post Graduate Programme in Fashion with specialization in Luxury & Brand Management course. A graduation from any stream is the basic requirement for admission to these courses.
Duration: 1 -3 Years
Fee per course/annum: ₹ 33,000 - 6,63,000
Luxury brands have always had managers to promote their products and services, although the name – luxury brand manager is relatively new. And with India's luxury brand industry predicted to grow from the current $18.5 billion to $180 billion by 2025, the need for these professionals is only bound to increase.
he job responsibilities of luxury brand managers include conducting market research for targeted products, organizing and monitoring digital advertising campaigns, strategizing product and distribution plans, managing brand budgeting and resources, and consultingexternal agencies for expert assistance.
On completion of your education, as a luxury brand manager, you will find employment with:
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Since luxury brand management is a niche area of expertise, the demand exceeds the supply of these professionals. A strong business management background along with functional experience in management practices preferably in luxury goods is essential for success in this profession.
Some of the typical job profiles and roles in this space are:
Some of the top global employers for luxury brand managers are:
Although no other place beats European cities in luxury brand markets, there are now many high-street luxury shopping avenues in Shanghai / Beijing, London, Moscow, Tokyo, New York / Chicago / Beverly Hills, Prague, Melbourne, Frankfurt, Toronto and Singapore. The job opportunities for luxury brand managers in these cities are understandably more.
The average salary of luxury brand managers in the US range between $4,750 and $9,700 per month. Pay wise, San Francisco, Seattle, Chicago, Cincinnati, Atlanta and Boston are some of the best cities in the US for luxury brand managers. In India, the average pay of professions in this field range between Rs.30,500 to Rs.198,000 per month. Gurgaon, Bangalore and Mumbai are the best cities in India for luxury brand managers.
Most famous for her campaigns for the brands MINI Cooper, Nike, and Coca-Cola, Sally Hogshead helps organizations develop messages that persuade and captivate audience. The press describes her as – an advertising mastermind who changed the face of North American advertising. Sally has built a marketing system that is used within organizations like Porsche, IBM and Twitter. She is also an author of the best seller books - Fascinate, and How the World Sees You.
One of the most respected branding speakers in the world today, Martin Lindstrom has an impressive array of clients including Mercedes-Benz, Disney, Mars, American Express, Reuters, Visa, Ericsson and Microsoft. A compelling orator, he speaks on various platforms as a branding and advertising consultant, and keynote speaker. Martin is the author of 5 books and has also collaborated with industry icons to write books on branding and marketing.
A top notch brand strategy consultant, Karen Kang has consulted for over 200 organizations. Astra, Zeneca, AT&T, HP, Adobe, Genentech, Intel and UC Davis Health System have been some of her clients. She is an author of several bestseller books, many of which have been featured in Forbes, Fortune and BusinessWeek. She has also been interviewed as a branding expert on television channels like CBS, ABC, FOX and NBC network affiliates.
1854 Louis Vuitton bag brand is founded by Louis Vuitton. The Keepall, Speedy, Alma and the Neverfull become its bestselling bags
1909 Gabrielle Coco Chanel starts the French luxury brand Chanel as a hat making company but quickly branches out to make comfortable clothing for women. She becomes most famous for the Chanel Classic Flap bag, and the Chanel tweed jacket
1913 Mario Prada starts the house of Prada by selling leather goods. It becomes most popular for the Saffiano Lux tote and the Nylon backpack
1932 The haute couture house in Paris is founded by Maria Nina Ricci and her son Robert. It becomes well-known for its perfume - L’air du Temps
1946 A French luxury goods brand is founded by Christian Dior. The brand becomes famous for its narrow waist and knee-length skirts, and iconic Lady Dior handbags
1952 A French luxury fashion and perfume brand is founded by designer Hubert de Givenchy and becomes known for its cool fashion and chic vibes
1960 Italian fashion brand Valentino is founded by Valentino Garavani and gets iconic status for it Rockstud shoes and studded bags
1961 Saint Laurent, the French luxury fashion house that markets women and men’s ready-to-wear products, leather goods, shoes and jewellery is founded by Yves Saint Laurent
1983 Swiss watchmaker Swatch is founded by Nicolas Hayek as a subsidiary of The Swatch Group
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