Luxury goods and services have been playing an instrumental role in shaping culture, art and economics throughout the history of civilization. They are indeed an aspirational, affluent and integral part of our society. Despite being struck again and again by a lingering economic slowdown, the sales of luxury goods and services are surging worldwide. This expanding global market obviously requires professionals who have in-depth knowledge of brand management and marketing in the 21st century dynamic business environment. MBA in Global luxury management is a unique and popular academic program, aimed to train aspiring students the managerial, entrepreneurial and marketing skills required to flourish in the worldwide luxury goods and services industry.
Now, the million dollar question is whether or not an MBA degree in global luxury management could lead to a secure and prosperous future. Well, the answer is pretty simple here – of course it’s as lucrative and potentially high-rewarding career choice that, let’s say, an MBA in finance or information technology could ensure – if not more.
From Versace, Ralph Lauren to Armani – the luxury brands worldwide account for more than $200 billion in the year 2011 alone; even more in the following years. The demand for luxury goods and services is undergoing a stiff rise not just in developed countries, but also in developing countries like India and China. With emerging economies worldwide is poised for more growth in the coming years, an MBA in global luxury management could eventually lead to an array of jobs in this domain – and that may typically include roles like business development consultants, marketing managers, brand managers, and so on!
Also See : MBA in International Business
The following is a rundown of some of the leading institutes across the world that offer MBA in luxury management:
University of Bologna- Alma Graduate School (Italy)
Being home to renowned brands such as Lamborghini and Maserati, Bologna is indeed one of the finest places to be if you lust for fast and high-end machines. However, MBA in luxury management offered by the University of Bologna is much more than just cars. Be it fashion and accessories, lifestyle products, or home appliances – students with Alma Graduate School’s degree in luxury management have been securing lucrative job offers over the years.
University of Bologna – Alma Graduate School
Villa Guastavillani – Via degli Scalini, 18
ESSEC Business School (France)
ESSEC Business School is not only renowned as one of France’s foremost business schools, but also as a leading entity in Europe’s management training establishment. The institute offers MBA in International Luxury Brand Management that serves as a hub for aspiring students eying on specific sectors such wine and cosmetics, or fragrances or spirits.
Avenue Bernard Hirsch B.P. 50105
North Carolina State University – Poole College of Management (United States)
Poole College of Management has teamed up with SKEMA to offer Global Luxury Management option as part of its Master of Global Innovation Management Program. The institute offers three distinct module: two year full time MBA; part time and distance learning
Website: https://poole.ncsu.edu/mba/full-time/ (full time), https://poole.ncsu.edu/mba/professional-mba/ (part time), https://poole.ncsu.edu/mba/professional-mba/ (distance learning)
North Carolina State University – Poole College of Management
NC State MBA Program
Campus Box 8114
Raleigh, NC 27695-8114
SDA Bocconi School of Management (Italy)
The SDA Bocconi School of Management joined forces with Italian jewelery company Bulgari to launch a specialized MBA track in Luxury Brand Management. Students from this renowned institute are given the privilege of getting hands-on experience in the field – either through a two-month corporate project at Bulgari or some other luxury brand of their preference. There are two distinct modules – a one year full time MBA, while the other is a 20-month Global Executive program.
Website: www.sdabocconi.it/ftmba (one year full time MBA)
www.sdabocconi.it/gemba (20-month Global Executive MBA)
SDA Bocconi School of Management
Via Balilla 18
These are, however, only four of the most popular institutes offering MBA programs in Global Luxury Management. In the next article in this series, further information will be provided on institutes offering this program, including those in India.