Luxury Brand Management is a relatively new field of management studies that is gaining increasing popularity by the day. To trace the origin of the rise of the Luxury Brand Management course in India, one must truly understand and learn about the rise of the economic strength and financial capability of Indians. India, for the longest time since its independence, has been a country of citizens who did just about enough to satisfy their needs. Going beyond the ‘need’ to quench one’s interests or fondness for ‘nice’ items wasn’t a reality for everyone. Money was scarce, earnings were limited, expenditure was measured, and the number of jobs was far fewer and in between. Spending for happiness that was beyond what was necessary wasn’t fathomable to everyone.
However, with the dawn of the 21st century, things started to change for the good. India’s two largest money-making industries – Bollywood and Cricket – began to attract foreign investments like never before. Films began to go global and get worldwide accreditation, and naturally, more money was invested in Indian industries. Slowly and steadily, as India’s economy grew in magnitude, its citizens became increasingly financially independent. A variety of jobs became available, more people were employed, and new markets and industries emerged. This allowed Indians the long-awaited and coveted relaxation they required to spend. And that is how Luxury Brand Management emerged.
Luxury Brand Management is the art and science of creating, maintaining, and sustaining high-end brands by managing their identity, reputation, and customer experience. It relies heavily on preserving the exclusivity and prestige of the products. But for a Luxury Brand Management program to thrive, there must be a vibrant Luxury Brand market in the country. And that will only happen when enough people are willing to spend on luxury products. Over the last decade and a half, Indians have actively and increasingly spent more money on luxury products.
With that in mind, let’s have a look at the rise of Luxury Brand Management courses in India and the various kinds of courses available to pursue.
What is a Luxury Brand Management Course?
A Luxury Brand Management course is either an undergraduate or a postgraduate program designed to teach students about the art, science, and management of high-end luxury products and brands. It teaches students about managing the identity of a luxury product, maintaining its reputation, and providing a valuable customer experience for all.
The programs are often specialized, covering a wide range of topics, including marketing to branding, logistics, and finance. Its scope ranges from every single industry, from fashion to automobiles to hospitality. The main thing that students of Luxury Brand Management need to learn is understanding how the luxury market works. They also learn to manage brand identity, develop effective communication and sales strategies, and provide customer service that aligns with the brand’s elite status.
Eligibility for Luxury Brand Management
The eligibility for pursuing a Luxury Brand Management course is no different from what is required to study any management course. A student must graduate from any stream with a minimum of 50% marks across all subjects. Post that, they can apply for an MBA in Luxury Brand Management.
Similarly, to study a Bachelor’s degree in Luxury Brand Management, such as a BBA, one needs to pass Class 12 with at least 50% marks, including all subjects.
Additionally, there are exams such as CAT, MAT, CMAT, and XAT, among others, that are conducted nationwide to select students for an MBA program in reputed colleges.
Top Luxury Brand Management Courses in India
These are some of the top Sports Management courses to pursue in India:
- MBA – An MBA in Luxury Brand Management is a 2-year program that teaches you about the in-depth management concepts of high-end luxury brands and products.
- MA – An MA in Luxury Brand Management is also a 2-year program that covers topics such as Luxury Business Strategy, Global Luxury Market Structures, etc.
- BBA – A BBA in Luxury Brand Management is a full undergraduate degree for those starting a career in Luxury. It helps you learn the basics of Luxury Management and understand the Luxury Market.
- Postgraduate Diploma or Diploma – A PGD or a Diploma is usually a 1-year and a 6-month course, respectively. It is a more affordable and faster alternative to a traditional business degree for graduates looking for a luxury-focused business career.
- Certificate Courses – Certificate courses typically last between 1 and 6 months. They are a quick introduction for beginners to the luxury industry. Certificate courses are also very popular among those who switch careers.
Best MBA in Luxury Brand Management Colleges in India
Here are some of the best colleges for pursuing an MBA in Luxury Brand Management in India:
- MBA ESG, Pune & Bengaluru
- SP Jain School of Global Management, Mumbai
- Pearl Academy, Mumbai
- Athena School of Management
- ISBM University, Chhattisgarh
- Luxury Connect Business School, Haryana
- Mewar University, Chittorgarh
- FAD International Academy, Mumbai
- INSD Campus, Mumbai
Luxury and Fashion Management Careers
Here are some of the most popular job roles available after a Luxury and Fashion Brand Management degree:
- Luxury Brand Manager
- Retail Buyer
- Public Relations Manager
- Luxury Sales Manager
- Product Manager
- Branding and Marketing Consultant
- Luxury Retail Manager
- Marketing Head in Luxury Retail Category
- Operations Manager in Luxury Brand Category
- Digital Marketing Head in Luxury Brand Business
- E-Commerce Manager for Luxury Brand
- Fashion Marketing Manager
- Fashion Merchandiser
- Retail Manager
- Fashion Stylist
- Fashion Product Manager
- Fashion Consultant
What is the Future of Luxury Brand Management?
The rate at which the Luxury market is growing in India is going to reach an unprecedented level in the coming years. It is already a massive field in the top-tier Indian cities, and multiple colleges, thereby, are offering courses in Luxury Brand Management. The trend informs us that as more Indians amass wealth every year, the Luxury market will be a huge market in the future. It is already booming.
The Luxury Market will touch a total valuation of $85 billion by the end of 2030. That would mean a lot more jobs and a lot more students would be opting for Luxury Management in the future.
The affluence of the middle-class family, the demand for luxury goods, a rising global presence, and an ever-evolving consumer preference in the field will create a never-before-seen presence of Luxury Management in India.
Frequently Asked Questions
1. What is the Luxury Brand Management Course?
A Luxury Brand Management course is either an undergraduate or a postgraduate program designed to teach students about the art, science, and management of high-end luxury products and brands.
2. How to Become a Luxury Brand Manager?
To become a Luxury Brand Manager, you need a strong educational background, often with a bachelor’s degree in marketing or a related field, followed by a Master’s degree in Luxury Brand Management. You also need to pass all subjects with at least 50% or more marks, both in Class 12 and in Graduation.
3. What is the Avg. Luxury Brand Manager Salary in India?
The average starting salary of a Luxury Brand Manager in India is somewhere around INR 6 LPA to INR 9 LPA.
4. Where can I study Luxury Brand Management in India?
You can study Luxury Brand Management in India in many Business schools that offer a management program like an MBA. MBA ESG in Bengaluru is one such good example. Pearl Academy, Luxury Connect Business School, and Athena School of Management are some good examples of colleges where you can study Luxury Brand Management in India.
5. Which Country is the Best to study Luxury Brand Management?
Although it may depend upon the colleges in each country, France and Italy have been widely regarded as the two best countries for studying Luxury Brand Management.
6. What Degree is Best for Luxury Brand Management?
An MBA in Luxury Brand Management is generally considered the best course for Luxury Brand Management.
