Why study luxury management?

Luxury has always been a sector in high demand. However, to access it, you need to have a few years of study, skills, knowledge and specific knowledge. If you want to work in the luxury industry, you can opt for studies in luxury management. This group includes professions with responsibilities in the field of luxury.

Why are more and more students choosing to study luxury management?

Nowadays, many students choose to enter schools that offer programs in luxury, especially luxury management. There are many reasons why they make this choice:

• For the love of the luxury industry;
• It is a program of study that teaches the fundamentals of the luxury industry. Thanks to this program, they will be able to carry out internships with large companies and internationally renowned brands;
• With a degree in luxury management, they can easily apply for a position in the sector;
• Studying luxury management also allows these students to meet important people such as international celebrities and artists.

Are luxury and luxury management promising sectors?

Of course, the luxury sector and luxury management are growth sectors. In recent years, the luxury industry has experienced very dynamic global growth. It evolves as fast as technology. As it has to deal with the rapid emergence of new jobs linked to digital, it is integrating more e-business.

It’s a way for brands to reinvent themselves and find new ways to reach their targets. This new method opens up a wide range of possibilities for the more family-owned companies as well as for the major luxury brands. It also offers many professional opportunities for young graduates. They will be able to work in the digital sector and in the management of qualified teams in the luxury sector.

How to study luxury management in bachelor or master ?

At the moment, there are still few schools that offer a specialization in luxury right from the bachelor’s level. It is often at the Master’s level that specialization is gradually achieved. You can join after a general bachelor’s degree in management, marketing, business or communication. If you are looking for a master’s degree in luxury management, you can enroll at the IUM (International University of Monaco) with a degree equivalent to Bac+3 or Bac+4. This institution offers an MSc in Luxury Management program. It is a course entirely dedicated to luxury with 3 specializations to choose from, including the :

• Luxury Management – Fashion and Accessories;
• Luxury Hospitality and Event Management;
• Luxury Brand management.

What kind of student is attracted by a course in luxury management?

Students who may be interested in a course in luxury management have specific profiles.

• These are students who are curious: it must be said that this field requires to be always up to date with everything, including technological developments and trends;
• If you are truly passionate about the world of luxury, luxury management will be a real gift for you. It will allow you to bathe in the area and enjoy the various benefits it offers.
• “Luxury” is synonymous with “international”. A person who is open-minded and adaptable is well suited for this program;
• Most people think that the world of luxury is very sophisticated. However, what they don’t know is that this is a field that requires a lot of humility. If you are this kind of student, luxury management is for you.

What are the skills developed during a luxury management course?

Luxury management has become the creation, development and growth of a brand. Following this curriculum requires complex skills, but it also grants exceptional skills. During a luxury management course, you can develop :

• Your socio-cultural approach to luxury: Brand histories, sociology of luxury, luxury product ;
• Your skills in luxury management: strategy development, handling of various management tools, team leadership and project management;
• Your sense of marketing in the field of luxury: communication, sales, negotiation.

Updated 3 May 2024