An Overview of MBA in Global Luxury Management in India

MBA in Global Luxury Management is a unique and popular academic program, aimed to teach aspiring students the entrepreneurial, managerial, and marketing skills necessary to thrive in the global luxury goods and services industry. Students with excellent communication and interpersonal skills are also preferred for this course.

The increase in demand for luxury goods, including spirits, fashion products and jewellery, has boosted demand for managerial talent and spurred business schools to create management programs focused on luxury markets. MBA in Global Luxury Management in India is a postgraduate programme that will assist you to change into an expert manager in the global luxury industry. The programme offers a holistic understanding of the developed luxury markets and the application of sales, marketing and retail concepts in fast emerging markets such as India. The real-life projects and industry-centric curriculum will help you gain an exhaustive knowledge of the entire range of the luxury industry is significantly unique markets.

Required skillset for MBA in Global Luxury Management

MBA in Global Luxury Management is a unique and popular academic program, aimed to teach aspiring students the entrepreneurial, managerial, and marketing skills necessary to thrive in the global luxury goods and services industry. Students with excellent communication and interpersonal skills are also preferred for this course.

Also Read:

Top 5 MBA specialisations in India

14 MBA specialisations you should definitly know about

MBA in Global Luxury Management eligibility criteria

• Graduates with at least a Bachelor’s degree or any equivalent course from a recognised university in India or abroad.
• Participants who have an ability and desire to work in the lavish space.
• Participants with outstanding written and spoken communication skills, managerial and leadership skills, and the eagerness to meet the demands of a meticulous Master’s degree.

An MBA or a master’s degree in Luxury Management is targeted towards graduates aiming to establish a management career in companies dealing with luxury and premier products. These programs assist develop research and strategic, marketing, and management skills necessary to manage luxury international brands.

Leading institutes offering MBA in Global Luxury Management Course in India

MBA in Global Luxury Management is a niche course therefore only a few institutions offer this programme as of now. Check the table below for some of the best MBA colleges in India for Global Luxury Management course. 

MBA in Global Luxury Management Course Curriculum

MBA in Global Luxury Management course consists of four semesters. Topics taught in this course include:

• Computer Applications for Business
• Business Communication
• Legal and Business Environment
• Organization Design
• Managerial Economics
• Marketing Management
• Organizational Behaviour
• Business Statistics and Analytics for Decision Making
• Financial Reporting, Statements, and Analysis
• Indian Financial Systems and Financial Markets
• Corporate Social Responsibility & Sustainability
• Marketing Research
• Corporate Finance
• Indian Economy and Policy
• Human Resources Management
• Organization Study (Project)
• Consumer Behavior and CRM (Elective)   
• Luxury Merchandising (Elective)   
• Sectoral Immersion: Oenology, Gastronomy and Art Market (Elective)   
• Luxury Retailing Management (Elective)   
• Operations Management
• Project Management
• Management Skills for Effectiveness
• Quantitative Techniques
• E-Commerce for Luxury (Elective)   
• Retail Management for Luxury (Elective)   
• Brand Management for Luxury (Elective)   
• Luxury Marketing (Elective)   
• Sectoral Immersion: Perfumery and Cosmetics, Luxury Hotels, Clock Making Industry (Haute Horlogerie) (Elective)   
• Integrated Marketing Communication & New Media (Elective)   
• Entrepreneurship
• Indian Ethos and Business Ethics
• Corporate Strategy
• SIP + Research
• Services Management (Elective)   
• Social Media Marketing (Elective)   
• Luxury Marketing II (Elective)   
• Buying and Forecasting (Elective)   

Job Roles After MBA in Global Luxury Management Course

• Luxury Brand Manager: They coordinate with diverse departments of the brand and guarantee smooth functioning. They also investigate the products and supervise production, marketing and manufacturing units.
• Fashion Retail Manager: Their work is to make sure that the right kind of product is displayed in the showroom as per the latest trends, and what quantity of various products would be kept in the showroom.
• Fashion Good Product Manager: Their work is to plan product and its execution via different stages whether they are working with clothing, fashion accessories, footwear, etc.
• Fashion PR Specialist: They work closely with actors, models, singers, etc. and take part in red carpets, fashion shows, etc. Their main role is to maintain an excellent image of their brand.
• Visual Merchandising Manager: They make design themes and plans for the showroom including window and in-store displays, and the pricing ideas. They also use Mockshop, AutoCAD or Adobe Creative Suite, etc. to create their plan.
• Marketing: They plan a range of strategies to entice high-end clients. They also make budgets for a range of programs and collaborate with various promotional agencies.

Career Options after MBA in Luxury Brand Management

• Brand Management: Improving and managing brand value in the market through product development, communication, marketing and feedback.
• Marketing and Communications: Developing strategies and channels for communicating products, services, collaborations, etc. to reach more and more customers.
• Retail Management: Managing retail stores, sales for best value and ensuring optimum customer experience both online and offline.
• Merchandising: Selecting products and services according to customer needs and market trends to ensure luxury stores have what the customer is looking for.
• International Business Development: Overseas expansion of business. Identifying and creating business opportunities and partnerships in other countries.
• Customer Relationship Management: Providing personalized customer services to customers to ensure they have the best after sales experience. Managing high value clients and loyalty programs.
• Consulting: Offering strategy advise to luxury brands on market trends, brand positioning, product and operational efficiency and related areas.
• Public Relations: Managing and furthering public relation, brand reputation to engage markets and clients, through media, events, and other forms of communications.

MBA in Luxury Brand Management: Salary Package

After completing MBA in Global Luxury Management, an individual can expect to receive lucrative offers. Apart from this, there are other perks that a Luxury Brand Management graduate enjoys such as cash or other incentives, company-sponsored travel, five-star meals, holidays, and the most important among all, networking with the most excellent in the business. The average salary can range between Rs 10-36 lakh per annum based on the profile and years of professional experience.

Final thoughts

Luxury brand management in India has seen a sharp increase because of the influx of several luxury brands in the market over the past few years. India, one of the fastest-growing markets for luxury goods, is projected to take over China as the leading luxury market of the world. As per a report from Euro Monitor International, the luxury market of India is expected to grow 86 percent in continuous value terms between 2016 and 2019.

This trend has created a demand for professionals who are knowledgeable in the ins and outs of the luxury industry. Luxury brand management thus is an electrifying and profitable career path if you are interested in working with world-class luxury brands. Thus, the scope of luxury brand management is quite extensive. Luxury includes diverse fields, for instance, watches, cars, chocolates, wines, fashion, jewelry, and even services. Luxury brand management careers in India, thus, are aplenty. While you have to be ardent about a luxury management career path, a Master’s degree in luxury brand management will accelerate your success in the field.

Also Read:

7 Niche MBA programmes that give you an edge

List of top 10 MBA specialisations in India