Are you looking to pursue an MBA in the near future? Are you aware of the risk involved in career growth?
Instead, why not pursue a course related to Luxury Brand Management?
India is a massive country with a lot of young people, and if that energy can be utilized and channelized effectively, then we are no less than any developed nation. The retail sector in India is still not explored to the core and has plenty of opportunities. The luxury retail sector has the highest growth potential brands.
The luxury sector is a niche space with restricted numbers of highly placed brands. The luxury industry opens up new avenues for young, energetic enthusiasts to enjoy a career that is recession proof, offers easy to acquire skills and has a huge variety of segments to choose from or rotate within.
Today, luxury has seeped into every aspect of our lifestyles - Automobiles, fashion, travel & tourism, health and wellness, hospitality & fine dining, aviation, medical tourism, watches & jewellery, home & interiors, technology & hybrid – almost everything is affected by the luxury phenomenon. Further segmentation of the phenomenon has resulted in premium – accessible – aspiration – core luxury, thereby increasing the need gap in the talent pie.
Just like any other consumer business, any luxury product has roles in the front and back end. Managerial roles typically could be in the fields of marketing, communications, research, supply chain & logistics, merchandising, banking & finance, design, manufacturing etc. The front-end roles which act as the customer touch point areas would include sales consultants, sales supervisors, store managers etc.
Do you have what it takes?
Working for a luxury brand needs a certain attitude. One has to be well educated, well behaved, appear pleasant, have the willingness to learn and should possess the passion for excellence. One needs to know and like the products; one sells inside out. Promoting them has to be something that one enjoys. Advising someone on the usage of these products requires creativity and imagination. Besides, one needs to develop good inter-relational skills.
Being an avid listener and having customer service awareness is the most important ingredient. One should also be confident and mentally strong, as you will be dealing with educated customers with strong personalities.
A brand wants people with ambition, determination & a career drive, besides loving their job. People with strong academic background are always preferred, so do not neglect studies. Mastering two languages, including English, will always give you an edge. The most famous fashion brands are international, and one may need to interact with people from other countries. Since luxury brand management involves a high level of customer interaction, those with a natural flair for networking, especially with the corporate class, and the ability to build up a rapport with key decision makers will do well for themselves in this industry. Luxury houses possess zero tolerance for anything that is below average or of low quality. Thus, it is essential for an individual working in this field to set high standards of maintaining good quality customer relations and efficient time management skills.
It is essential for luxury brand managers to be in love with their product and believe that the company offers a value addition in terms of status and elegance to its client. A luxury brand manager who assumes the role of a mentor can spearhead the transformation of and merging luxury brand into a dominant market player.
Luxury Connect Business School: Guiding candidates towards a stellar career with the most premium brands in the world.
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