Are you a creative person with a strong interest in fashion, luxury brands, and business management in general? Does a career involving international travel and the opportunity to work in the world’s most renowned luxury labels excite you? Then you should think about pursuing a master’s degree in luxury brand management and launching an exciting career in the dynamic world of international luxury brands. If you are a total newbie to the world of business management, then enrolling in a Brand Strategy Course can provide you with the foundational knowledge and skillsets that will set the wheels in motion for your further journey toward earning a coveted master’s degree in luxury brand management. This article will give you the necessary in-depth examination of the career opportunities in luxury brand management and what they entail.
Why pursue a luxury brand management career?
As the world is becoming more globalized, India is soon becoming one of the fastest-growing markets for luxury brands. The appeal of big-fat Indian weddings, fine dining experiences, international travel, and vacations at opulent resorts all attest to the growing popularity of luxury brands in our country. The social media culture, as well as the growing popularity of celebrities, social media influencers, and exposure to their lavish lifestyles, has sparked an interest in people wanting to imbibe such a lavish lifestyle, resulting in a surge in the demand for luxury goods and services. Moreover, high-end luxury brands such as Gucci, Chanel, Louis Vuitton, Cartier, and Dior, to name a few, project an image of exclusivity as part of their successful brand strategy to create unique and memorable experiences for their customers, one that resonates with their intended image for their brand. Living in a consumerist society, where ‘luxury and class’ are intertwined in Gen Z culture, has resulted in the entry of several luxury brands into India. Luxury brand management is the driving force of success in the luxury industries, particularly in fashion. This has also paved the way for many luxury brand management courses and career opportunities in India. The Indian luxury sector was valued at more than $5 billion in 2021, according to the Robb Report, and it is now expected to grow by 10% over the next five years.
What is luxury brand management?
Luxury brand management is all about enhancing a brand’s relationship with its customers and using creativity in product design and innovation to attract and retain customers while maintaining the true essence and vision of the brand. High-end luxury brands require brand managers to develop strategies for merchandise promotion and branding that focuses on creating unique and unforgettable experiences while providing exceptional personal services. Today’s definition of luxury includes not only fashion and jewelry but also important industries such as automobiles, spas, cruises, restaurants, shopping malls, and even wines and spirits. As a luxury brand manager, you are not only contributing to corporate decisions and increasing brand awareness, but you are also humanizing the brand by bringing it closer to people’s hearts by weaving a story about what the brand stands for.
Career prospects in LBM
In luxury brand management, you will be tasked with creating and implementing marketing and sales strategies for high-end brands across multiple industries. To be successful, you must have an eye for detail and an understanding of the luxury market.
Following a master’s degree in LBM, you can pursue the following major career paths:
· Luxury brand manager
· Fashion retail manager
· Luxury brand Supply chain manager
· Luxury marketing director
· Communication manager
· Brand strategist
· Customer relationship manager
· Luxury buyer and merchandiser
· Public relationship
· Events and media management with luxury brands
Why should you pursue a career in luxury brand management?
The main reasons to pursue a career in Luxury Brand Management are:
· A chance to nurture your creative bend of mind, to be highly artistic and innovative
· An opportunity to work with big names and global icons of the world.
· Develop professionally and personally by learning about different aspects of product design, branding, customer relationship management, and organizing social media campaigns, as well as other soft skills.
· Excellent scope for career growth as luxury brand management is relevant across many industries.
· An opportunity to work and interact with celebrities and well-known personalities.
· The chance to become a global citizen by working with reputable brands and clients from various countries.
· Plenty of travel opportunities around the globe as a career in luxury brand management can truly take you places.
· Lucrative salary package
How much money does a luxury brand manager make?
With India becoming one of the world’s fastest-growing luxury brand hotspots, there are numerous opportunities for professionals with strong brand management and strategic skills.
According to Glassdoor, the national average salary for a Luxury brand Manager in India is Rs. 8,14,792. Furthermore, the salary package is determined by the brand for which you work as well as the individual’s experience. A luxury brand manager with 5-7 years of experience, for example, can command a salary of 12-14 lakhs per year, whereas a senior professional with 10-12 years of experience can command a salary of 25-30 lakhs per year.
How to enter the world of luxury brand management?
If you want to pursue this career, the first and most important step is to conduct proper research and develop the basic knowledge and skill set required to succeed in this field. You must have excellent communication skills, leadership qualities, and knowledge of the luxury market. A well-curated luxury brand management course will help you develop your business acumen, competitive marketing skills, and other critical technical skills needed to analyze and comprehend innovative brand strategies. A bachelor’s degree from a recognized university is the minimum educational requirement for enrolling in a master’s program. An undergraduate degree in business, marketing, or a related field, or a degree in creative fields such as fashion or design, can give you an advantage and provide you with fundamental knowledge. You can gain advanced skills and technical knowledge by enrolling in a Master’s in luxury brand management course, which will help you become an expert in this field. Because you will be working closely with creative agencies, in-house marketing departments, researchers, and product developers, you can also pursue a specialization course based on the industry or skill set you wish to develop.
The best Luxury Brand Management course in India
The S P Jain Institute of Management and Research is a leading management school in India that offers an excellent certification course in Brand strategy. The program is delivered in an online boot camp format, allowing working professionals and students from various industries and backgrounds to attend without disrupting their busy work/class schedules. The program will teach you key concepts such as Brand Strategy, Brand Management, Brand Positioning, Brand Communication, Marketing Strategy, and many more, as well as how to overcome business challenges. The program also allows you to work on real-world projects while being mentored by industry experts. So, without any further delay, click on the link given in the first paragraph to learn more about this amazing course.
