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The crisis has affected almost all sectors, but the luxury industry has been the least affected. The big houses are always looking for new professional and managerial skills. Indeed, in the field of luxury management, there are still many opportunities.
What are the different areas of luxury?
Luxury refers to several areas. These include haute couture, accessories and leather goods, fine jewelry and luxury hotels.
Fashion, accessories and leather goods
Initially, luxury concerns clothing, accessories and leather goods. As for clothing, we cite haute couture. This industry was born in France in the middle of the 19th century and continues to drive the world of luxury today. In addition to haute couture, there are luxury accessories that greatly contribute to the development of luxury companies. There are handbags, small luggage, wallets, scarves. This first category of luxury is also accompanied by the leather handling industry. Whether it’s belts, bags or other fashion items, leather goods fit right in.
Cosmetics, jewelry and luxury crafts
The world of luxury is also well known for jewelry, cosmetics and luxury crafts. Here, jewelry represents all the priceless pieces made from the most noble and precious materials: rubies, emeralds, or sapphires.
On their side, there are luxury cosmetics that evoke nobility and prestige. They are categorized as “premium” products. These are luxury beauty brands that are making a big impact in the world today. As far as luxury craftsmanship is concerned, it refers to the creation of high value products, whether in perfumery, jewelry, watchmaking or fashion.
The hotel world is also familiar with the luxury sector. This notion is based on several factors. Firstly, a luxury hotel is characterized by its excessive space and infrastructure. The equipment is of very high quality and the decorations are very well taken care of.
On the other hand, these luxury hotels are known for the excellent quality of the materials used and for their unique architecture. The location also allows a hotel to be categorized as luxurious. It is even an essential criterion. On the other hand, you can classify a hotel as luxury based on impressions such as authenticity and intimacy. The same goes for price, aesthetics, rarity and quality.
The creation of private events has contributed to the development of the event industry. It is also thanks to this that the event industry knows the world of luxury. Nowadays, this sector includes several niches: fashion shows, festivals, Pop Up stores, fairs, brand launches, seminars, Fashion Week, private garden parties, private events, launch of a haute couture line, launch of a range of beauty products? It is important to know that several luxury professions are behind these major events, including luxury management.
How to succeed in getting your first experience in luxury management?
The luxury sector brings together several types of professions, requiring very different skills. The good news is that you can find a place for yourself depending on your desires and strengths. If you want to get your first experience in luxury management, you can choose between several paths.
Get into the websites of large luxury groups or specialized websites, then find an internship. Don’t forget that an internship can end with the signing of a permanent contract.
Talk to others aboutyour plans to work in luxury management. You can find a position through your personal and professional network.
Which course allows you to discover luxury management at the IUM?
The International University of Monaco offers an international education. Among its luxury-oriented programs, you have the Master of Science in Luxury Management. This program has been developed since 2006 with the collaboration of emerging brands and large companies. It has also been set up considering the ever-changing luxury sector. This MSc provides students with a solid foundation in luxury management. You will find three specializations:
- Luxury Management – Fashion and Accessories ;
- Luxury Hospitality and Event Management;
- Luxury Brand management.