CONTACT US TO LEARN MORE ABOUT OUR PROGRAMS
YOU WANT TO JOIN US ?
Luxury is essentially characterized by rarity, quality and price. It can concern several sectors of activity such as the hotel industry, gastronomy, cosmetics, haute couture, travel or leather goods. If you want to work in the luxury industry, you need the right training.
What are the main sectors of activity in the luxury industry?
The main sectors of the luxury industry are :
- haute couture, which concerns the design of very high quality clothing from noble materials;
- Perfumery which is the creation of high quality perfumes from a mixture of synthetic or natural fragrances;
- jewelry , which involves the creation of jewelry with noble materials and precious stones.
There are also other luxury sectors such as leather goods, hotels, watches, gastronomy, travel, real estate, aviation, wines and spirits, yachting and automobiles. They are equally important.
How to choose your sector of activity in the luxury industry?
Luxury is a fascinating field. If you want to get in, it is crucial to specialize early. Besides, in this industry, competition is quite tough, even if you come from a top school. Choosing an area of activity will allow you to accumulate a maximum of experience, whether in stores, offices, salons or workshops. However, to make your choice, you must consider a few criteria:
- your passion for the industry;
- the level of recruitment in the sector;
- the location. For example, if you choose to work in the automotive sector, you will have to be prepared to live in a country that offers this luxury industry.
What types of products and services are generally considered luxurious?
Currently, the luxury industry touches several families of products and services. These are characterized by their rarity, originality, exclusivity and personalized experience. It is then necessary to say that products and services can belong or not to luxury according to these characters. Otherwise, they can also vary by house and brand, customer experience, emotion and brand story. It should be noted that some services are automatically considered luxurious, since they offer almost only high-end services. This is particularly true of the aviation sector.
Who are the main players in the luxury market?
The luxury industry is dominated by traditional players. These include:
- the LVMH group (Louis Vuitton Moët Hennessy) which is the international leader in high quality products. It includes major brands such as Louis Vuitton, Moët et Chandon, Hennessy Cognac, Fendi, Givenchy, Kenzo, Dior, Bulgari, Sephora, Ruinart, Veuve Clicquot;
- the Kering group (formerly PPR – Pinault Printemps Redoute) which is one of the international leaders in accessories and clothing. You can find brands such as Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Stella McCartney ;
- the Richemont group, which specializes in watches and jewelry. It is composed of major brands such as Cartier, Montblanc, Vacheron Constantin, Van Cleef & Arpels, Jaeger Le Coultre, Piaget ;
- the L’Oréal group which is the world leader in cosmetics;
- The Chanel brand specializes in haute couture, ready-to-wear, perfumes, cosmetics and leather goods;
- the Hermès brand.
In which countries of the world are the luxury sectors most present?
While preserving its specificities, the luxury sector has been able to democratize itself. Today, it has specialized in an industrial world under the support of powerful groups. Depending on the country, luxury is a social marker. It is also considered an external sign of wealth. In the luxury sector, France is a leader. The fact is that it encompasses almost all the luxury business sectors. The world leader in luxury goods, the LVMH group, for example, is based there. After France, the cities in the world where luxury industries are most present are London, New York, Milan, Amsterdam and Tokyo.
Which course of study allows you to train in the various luxury sectors?
If you want to learn about the different sectors of luxury, you can opt for the MSc in Luxury Management program at IUM. It is accessible with a 3 or 4 year university degree and proof of English proficiency. When you enter the program, you can choose between three specializations:
- Luxury Management – Fashion and Accessories ;
- Luxury Hospitality and Event Management;
- Luxury Brand management.
You will have a solid foundation in luxury management, which will allow you to work in all sectors of the luxury industry.Updated 14 September 2023