The fashion and luxury management industry presents exciting career opportunities as the industry grows. The global fashion market is seeing a growing demand for professionals with specialized knowledge and skills in fashion and luxury management. This is where pursuing an MBA with a specialization in Fashion and Luxury Management become crucial.
The growing need for fashion management professionals can be accounted by understanding the following:
a. The global expansion
With the global expansion of luxury and fashion brands, there is a growing demand for fashion management professionals. They will be the one to lead the expansion in international markets, navigating the cultural differences and meeting the consumer demands.
b. Digital commerce
Another factor that is pushing the growth of fashion management professionals is the rise of digital and online shopping. As more and more digital platform sell online and interact with consumers via social and digital platforms, there is a need for fashion management professionals who come with a background in understanding consumer behaviour and data analytics to drive digital strategies.
c. Sustainable business model
With increasing awareness about sustainability and ethical practices, the fashion sector is now embracing a responsible business model. Fashion management professionals who come with an expertise in sustainable practises in fashions supply chain, ethical sourcing is sought after to meet the growing consumer demand for eco-conscious fashion.
Also read: Pursuing a career in fashion management with MBA ESG
What fashion management professionals are equipped with / The need for skilled fashion management professionals
Industry Expertise and Business Acumen
Fashion Management professionals learn a blend of creative flair and business acumen to navigate the industry’s complexities and drive growth. They come with a deep knowledge of industry trends, fashion industry fads and trends, consumer behaviours along with business basics of marketing strategies focused on lifestyle and fashion brands, financial management and supply chain dynamics.
A global perspective and cultural sensitivity
The fashion industry is known to operate on a global scale. From leading luxury designer houses showcasing at prominent London to New York Fashion weeks to global high street brands like Mango, H&M, Zara, and others – they all require fashion management professionals who have a global perspective and can understand the cultural sensitivities to work around them.
These professionals are trained to learn about the diverse markets, consumer preferences in different markets and the cultural nuances to develop effective strategies and foster successful collaborations.
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Digital skill set and technology proficiency
As emerging technologies are taking over every sector by a storm, fashion industry is increasing making use of AI/ML, data analytics, blockchain and AR/VR to strategize and make informed business decisions. A fashion management professional today learns these tools and analytics in their MBA programmes that make them proficient in technology and digital skills and harness the power of e-commerce platforms, social media marketing, digital tools, and data analytics.
Career opportunities in Fashion management
Fashion management encompasses a wide range of opportunities from luxury, lifestyle, accessories to fashion retail management. Within each of these, there are several other possibilities to explore as a career path for fashion management graduates:
a. Retail and Merchandising
With a degree in fashion management, one can pursue a career path in retail or mechanising where they will oversee:
> store operations,
> inventory management,
> visual merchandising,
>building plus managing customer experiences and more.
b. Buying and Planning
A crucial area of operation in fashion is the sourcing and selection of merchandise for retail stores, e-commerce platforms and other multi-designer stores/ platforms. This job entails one to ensure the buying is a well-curated product assortment and is a profitable inventory management.
c. Supply chain and logistics
This aspect is a key area that needs a lot of attention, strategy, and push in the fashion sector. Professionals in supply chain and logistics play a critical role to manage the movement of fashion products from production houses, manufacturers to consumers – making sure the operations are optimized, efficiently running and help to reduce costs.
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d. Event Management/ Studio management
For brands that work on producing several events inhouse or for other companies are always seeking out professionals who have the knowledge of fashion industry to organize fashion shows, exhibitions, promotional events, impactful experiences for brand or product launch to engage with the audience.
e. E-commerce and digital platform management
Digital world requires brands to manage their online operations from website, blog to social media management. In fashion world, brands need management professionals to lead digital marketing, social media marketing, category management of their range of products, customer engagement and content management professionals.
With an MBA programme focused on the fashion sector, students will gain a comprehensive understanding of the industry, combine business strategies with the intricacies of the fashion world and will be equipped with the necessary tools to navigate the complexities of brand management, retail operations, marketing, and consumer behaviour in the fashion and luxury market space. With this specialized knowledge gained through and MBA programme, students are able to stand out in the job market.
To become a global fashion management professional, join MBA ESG’s global MBA programme in Fashion & Luxury Management that offer you an international learning experience with the two-week educational visit to Paris along with several industry, peer and alumni networking opportunities.
