Everything you need to know about the job of Luxury Marketing Manager: missions, training, salary

While there are many different positions in the luxury sector, the position of luxury marketing manager is one of the most important. His role is to establish an effective and efficient sales and marketing strategy adapted to the luxury sector. Without the work of this professional, it would be very difficult for brands and companies to develop their sales.

To enter this profession, aspiring managers must go through a specialized training in luxury and marketing. The International University of Monaco offers this type of training.

What does the job of Luxury Marketing Manager involve?

The role of the luxury marketing manager is to manage the marketing department of the client company or brand. Therefore, he is the one who defines the sales and marketing strategy according to the set objectives. To do this, the luxury marketing manager works in collaboration with different teams and departments.

What are the main missions of the Luxury Marketing Manager?

In order to ensure the implementation of an effective overall strategy , the luxury marketing manager must, among other things:

• conduct a market study ;
• Identify the competition and potential customers;
• Identify opportunities for further development;
• create unique products and services that meet the needs of luxury customers;
• Leading the teams under his/her authority;
• support the sales department in developing sales;
• manage budgets.

What training do I need to become a Luxury Marketing Manager?

As the name suggests, the position of luxury marketing manager is a position of responsibility. Like many management positions, this one requires at least the equivalent of a bachelor’s degree.

As far as the curriculum is concerned, it must be related to luxury and operational marketing. Among the courses of study that can be taken to train as a luxury marketing manager are:

• The Bachelor of Luxury Marketing ;
• Master of Luxury Marketing;
• MBA Luxury Marketing;
• the MSc Luxury Marketing.

These different courses are offered by business schools, fashion schools and marketing schools. At the International University of Monaco, students can train to become luxury marketing managers. To do so, they have to go through the Master of Science in Luxury Management.

What is the salary of a Luxury Marketing Manager?

The position of luxury marketing manager attracts many job seekers because of the high compensation it offers. This remuneration is due to two elements that constitute the main benefits of the job:

• the executive status it offers;
• the attractiveness of the business sector, namely luxury.

For a luxury marketing manager starting out, the average salary is between 3,500 euros and 4,500 euros per month. For an experienced professional, the average salary is between 4,500 and 6,000 euros per month.

These salary ranges vary according to many parameters such as experience, employer and candidate profile.

What are the possible career paths for a Luxury Marketing Manager?

The position of luxury marketing manager is only accessible after several years of experience (between five and ten years). This position is therefore already a career move for professionals working in the field of marketing.

The first possibility of evolution for a luxury marketing manager is to obtain a higher salary or more responsibilities.

The second possibility is to move on to other positions, such as sales manager or luxury goods consultant.

What are the essential skills to succeed as a Luxury Marketing Manager?

The job of luxury marketing manager requires several qualities. However, to truly thrive in this profession, you must possess at least the following four skills:

• mastery of the luxury sector, its codes and its specificities;
• An analytical mind that allows you to keep abreast of market developments and to establish effective strategies;
• The ability to work in a team while being able to demonstrate autonomy;
• a great creativity that allows us to create unique products.

Like many jobs in the luxury sector, the job of luxury marketing manager requires a great deal of availability. The position must be able to meet the needs of its customers at all times. The majority of the skills essential to the profession of luxury marketing manager can be acquired through various training programs. This is notably the case for the Master of Science in Luxury Management offered by theIUM. It is one of the most complete and up-to-date training programs in the luxury sector.

Updated 14 September 2023