We are currently witnessing a global shift in the luxury & fashion sector with technological advancements, sustainable initiatives, and changing consumer behaviours taking over. The industry is adapting to digitization, and sustainability has become the focal point and part of the ethos of the industry. Underscoring further the need for specialized professionals to manage the intricate global fashion market.
What is MBA in Luxury & Fashion Management?
It is a specialized MBA programme that focuses on the strategic and operational management of the fashion industry. This programme enables students to understand the dynamics of the evolving global luxury and fashion sector. Equipping students with fashion management practices and forecasting. Mastering concepts of marketing, communication, supply chain, retail operations, and financial and legal implications in luxury & fashion.
Highlights about the MBA in Luxury & Fashion Management
As Luxury & Fashion moves into e-commerce, 3D realms and circularity as focus, the education sector is also abreast with the latest modules. Here are some highlights of the programmes across institutions:
a. Cutting-edge curriculum
Institutions have a dynamic module system with modules like Sustainability in Fashion Retail operations, Luxury Brand Management etc.
b. Industry Immersion
Bridging the industry-academia gap to offer students live industry projects, workshops, guest lectures and more.
c. Global Immersion
Institutions like MBA ESG, Bangalore, offer students a 14-day educational visit to Paris. Fostering immersion in global fashion culture in the mecca of fashion & luxury, Paris.
d. Leadership development and soft skill learning:
The programme is designed to nurture leadership qualities and teach students soft skills essential for leadership roles.
Other highlights:
Career development services
Internships opportunities
Access to certain fashion events
Innovation and sustainability focus.
Eligibility Criteria: MBA in Luxury and Fashion Management
Academic qualification: Candidates require a bachelor’s degree in any discipline from a recognized university.
Minimum Cut-off: Few institutions require a minimum cut-off from graduates.
Work experience can add more relevance to your application, however, is not a must requirement amongst various institutions.
Entrance Exams
Apart from having a bachelor’s degree, applicants for the MBA Luxury and Fashion Management programme are required to take entrance exams like CAT, GMAT, or an institute-specific entrance exam.
For instance: At MBA ESG, Bangalore, applicants will be required to take in JET (Jain Entrance Test) aptitude test as a prerequisite for the admission process.
MBA in Luxury & Fashion Management Admission Process
While each institute has its admission process, there are certain basics every programme admission flow has:
a. Graduation degree with minimum academic performance record.
b. Entrance exam and a submitted application with references and essays.
c. Personal interview with alumni and/or selection committee.
d. Fee submission once the institution has selected the candidate.
MBA in Luxury & Fashion Management Fees
Here is something you can expect when you apply to an institute in India. Structure:
a. Tuition costs: Average of INR 5-8 LPA
b. Additional cost: Average of INR 20,000– 1,00,000 one-time cost based on the additional resources provided. (Books, study material, library access and more)
Students can also apply towards scholarships offered by their choice of MBA school.
These costs may vary from college to college.
MBA in Luxury & Fashion Management Skills required
When applying to an MBA Luxury & Fashion Management programme, the school seeks for:
a. Your luxury and fashion retail industry knowledge and passion
b. Analytical and strategic thinking, and business acumen.
c. Your soft skill set – adaptability, agility, resilience etc.
d. Your leadership skills and communication skill set in fast paced aggressive sector.
e. Ability to effectively communicate your worth and network.
f. Ethical and sustainability awareness in the fashion sector.
Course Syllabus
Each institute has its unique curriculum design, however, here is a general breakdown of the course syllabus for an MBA in Fashion Management:
a. Foundation of Fashion Business with modules like Introduction to Fashion Business, Fashion Economics and Financial Management, Fashion Retail Management, Marketing Management etc.
b. Advanced management concepts like Global Fashion Business and International markets, Supply Chain and Distribution Strategy in Luxury and Fashion, Luxury and Fashion Consumerism etc.
c. Specialized electives: Last semester focused on advanced electives for students to specialize in like Fashion Entrepreneurship, Sustainable Fashion etc.
d. Industry immersion and practical application: Internships, live-projects, workshops and more.
Career Scope for MBA Luxury & Fashion Management
According to Statista report on the market size of luxury & fashion retail in India 2016-2027, in 2022 the market size of fashion retail in India amounted to over six trillion INR. And the fashion retail market is likely to increase to over 11 trillion INR in 2027.
This growth reflects the promising scope for careers in fashion management. The rise in numbers represents a growing industry with an expanding job market, the rise of start-up culture in fashion, market expansion and globalisation. The projected surge offers individuals aspiring to pursue careers in fashion management a promising landscape with diverse opportunities.
MBA in Luxury & Fashion Management Job Opportunities
Students can pick their area of expertise in retail management, fashion, luxury marketing and more. They may work exclusively with bespoke fashion designers or established fashion brands. There are numerous opportunities like:
Luxury or Fashion Store Manager
Apparel Merchandiser
Fashion Buyer
Visual Merchandiser
Fashion Brand Manager
Sustainability Executive/ Manager
Head of Research and Creation
Fashion Events Manager and Coordinator
Fashion Events Curator
Social Media Strategist
Fashion Content Strategist
Export Manager
Sales Manager etc.
MBA Luxury & Fashion Management Salary
The average salary ranges from INR 5 to 12 LPA. In the fast-paced growth environment of the luxury & fashion sector, salary may depend on your area of expertise and years of experience.
MBA in Luxury & Fashion Management FAQS
What is MBA in Luxury and Fashion Management?
An MBA in Luxury and Fashion Management is a unique programme designed to amalgamate luxury, fashion, and business practices into one. It’s a pragmatic programme designed to teach the principles of fashion and luxury with a focus on enhancing the strategic business, managerial and marketing skills of the students
Can I do MBA in Fashion?
Yes. Any graduate with a bachelor’s degree can apply for an MBA in Fashion Management. Read about the application and admission process at MBA ESG, Bangalore, for their MBA Luxury and Fashion Management course here.
What is the scope of MBA in Luxury & Fashion Management?
Students who pursue an MBA in Luxury & Fashion Management will have the option to find career opportunities in fashion retail, luxury, marketing and communication, branding and advertising, brand management, fashion events management, sales and business development and other areas. It offers a diverse range of opportunities for students to pick from.
Who is eligible for Fashion Business Management?
Anyone with a graduate degree is eligible to apply for an MBA Fashion Business Management. Applicants may also be required to take an entrance exam based on their college of choice.
How can I finance my MBA in Luxury and Fashion Management?
Here are some ways to finance your MBA education:
a. Self-funded: You may self-fund with the help of your savings or help from your family and friends
b. Educational loan: You may acquire a student loan from a banking institution.
c. Scholarships and grants: You may apply for a relevant scholarship in the state, country or at your college.
Don’t forget to inquire if the university offers flexible payment via instalment options to ease the financial burden.
How long does it take to complete the program?
The average length of the programme is 2 years. Some institutions also offer 1-year comprehensive programmes.
What career opportunities does this MBA open up?
Students can pick their area of expertise in retail management, fashion and luxury marketing and more. They may work exclusively with bespoke fashion designers or established fashion brands. There are numerous opportunities like:
Luxury or Fashion Store Manager
Apparel Merchandiser
Fashion Buyer
Visual Merchandiser
Fashion Brand Manager
Sustainability executive
Head of Research and Creation
Fashion Events Manager and Coordinator
Fashion Events Curator
Social Media Strategist
Fashion Content Strategist
Export Manager
Sales Manager etc.
