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Luxury management focuses on the management and development of companies working in this prestigious universe. This is a full-fledged university course, essential for mastering all the facets of a demanding profession. Discover the training courses available to become a manager in the luxury industry.
How to study luxury management?
Luxury refers to all activities of prestige, such as fashion, perfumery, jewelry, hotels and events. While career opportunities are numerous, it is above all necessary to have the necessary skills to meet customer expectations. To do this, there are a few university courses offered within schools such as the International University of Monaco or IUM. Depending on your goals, you can choose between different levels of diplomas:
- a bachelor’s degree, which is the shortest course;
- a master’s degree or a master of science specialized in luxury;
- an MBA.
Which post-baccalaureate course should I choose to study luxury?
While it is possible to enter a luxury program after high school, many students choose it as a specialization. Indeed, the luxury management course is only available at certain grandes écoles. This includes a curriculum within business schools and international schools such as IUM.
Directly after the baccalaureate, you can therefore go to the more generalized courses such as :
- business and marketing;
- management ;
- language ;
- tourism and hotel industry ;
In this case, you have the possibility of training at the university or in a business school. Afterwards, you can specialize in luxury management through a Master’s program. The IUM Master’s degree in luxury management is designed for students with a bachelor’s degree or a bachelor’s degree. Note that the IUM offers a Bachelor of Business Administration or BBA program. It provides a basis for pursuing a master’s degree in luxury management. This bachelor’s degree includes three tracks, namely:
- business management;
- marketing and communication;
- digital strategy and business development.
To perfect the teaching, the theoretical courses are punctuated with internships. As an international school, IUM offers many opportunities to study abroad. In addition to having a solid background, doing a bachelor’s degree at IUM trains you beforehand in the world of luxury and the multicultural atmosphere of Monaco. However, the BBA is taught entirely in English. The mastery of this language is therefore one of the main criteria for admission. If you do not have an English language certificate, you can take a test at the school. A motivation interview is also required during the admission process.
What type of higher education institution allows me to study luxury management?
Luxury management focuses on the management and development of activities within companies working in the field. Training is therefore provided within business and management schools such as the IUM. Moreover, the school offers several master’s degree specializations in order to complete your curriculum. Each of them lasts 10 months, before integrating an internship.
Fashion and Accessories Management
This specialization focuses on luxury fashion and accessories. Professionals in this field aim to enhance the brand and build customer loyalty. The training is based on commercial notions, in order to occupy positions such as area manager, retail manager or merchandiser in the luxury industry.
Luxury hospitality and event management
This program trains students to work in luxury hotels and to become ace event planners. The IUM is also the only school to offer a course focused on yachting. This training is mainly aimed at the development of managerial skills.
Luxury brand management
As its name suggests, the course focuses on brand management. In other words, it trains students to promote a luxury brand. To do this, the teaching is based on the notions of marketing and communication.
What are the qualities required to study luxury management?
Commercial sense, negotiation skills and interpersonal skills are among the indispensable qualities for studying luxury management. Being rigorous will also allow you to integrate this very fussy field. Moreover, this discipline is mainly aimed at luxury lovers, knowing that you must appreciate a product in order to be able to sell it properly.Updated 27 March 2023