MSc in Luxury Management - Brand Management - Courses - International University of Monaco

Some of the Core Courses offered in the MSc in Luxury Management, Specialization Brand Management

Please note that this list is not exhaustive and subject to change

LUXURY BRAND STRATEGY & DIGITAL LUXURY

Leading a luxury firm requires a deep understanding of the fundamental strategic challenges. Today we live a very dynamic and constantly changing environment. Given the impact of the digitalization of business models and the arrival of new generation of consumers, the role of the strategy is more relevant than ever. This course will help the students to acquire the basic knowledge to identify the strategic challenges of a luxury firm and the process of designing a sound business strategy.

LUXURY DSTRIBUTION & SUPPLY CHAIN

This course introduces students to quantitative methods used for the control of facilities, manpower and material in logistics, operations and project management. The course seeks to illustrate that operations management is indispensable to good corporate management regardless of the sector. It assists students in understanding the link between effective general management and the principles and techniques of managing operations in the modern firm by demonstrating applications in both the service and the manufacturing sectors.

LUXURY SERVICES MARKETING

This course will examine the unique aspects of services management and marketing, with a particular focus on services in the luxury environment. The methodology used will be both theoretical and practical.

Underlying the approach of this course is the “service perspective”. According to this perspective, customers are not looking for goods or services, but rather for benefits or solutions to their problems. In other words, to be competitive, firms need to understand their selected customers’ total needs in order to design and deliver the core solution: the pertinent package of goods and services. But beyond that, the solution should also include other relevant billable, and non-billable services, such as invoicing, complaint handling, advice and personal attention, information, and other value-adding components. In this service perspective, the role of service components in building and maintaining customer relationships is fundamental and strategic, and sustainable competitive advantage can only be created by understanding and meeting every element of the individual customer relationship. Given the highly demanding and discriminating behavior and needs of the “luxury” buyer, effectively embracing and implementing the service perspective becomes even more imperative if a firm is to succeed in this highly competitive market.

This course will also examine, through various case studies and discussions, services as they relate to (as possible examples) the fields of hospitality, retail, wines, art, event management, and professional services.

LUXURY PRODUCT DESIGN & DEVELOPMENT

This course will focus specifically on the role of design in generating innovative products and creating value, introducing the following concepts: product form, product meaning, product character, product identity and brand identity. Design driven innovation and design value will be illustrated with relevant theories and concrete examples from the Furniture, Furnishing and Fashion sectors. In addition, students will put their understanding and creativity into practice by developing a project: a team design strategy project in the luxury field. At the end of the course, students will be asked to deliver two final assignments in PPT format.

YACHTING

The course will be highlighting the “value chain” of the yachting industry and its different players, through a concrete group project “Build your yacht” The project is focused on developing a concept for a new build yacht for a specific purpose. The key idea is that the student group/s are the client. They are tasked with developing a brief together with professionals. We provide the initial brief and a budget. The aim of the course is to walk them through the buying process interacting at each stage with key industry players who will offer them advice and guidance on the project. The process includes all relevant steps including design and yard selection, contracts, legal and fiscal issues, charter and management.

DIAMONDS

This course introduces students to the luxury business regarding the diamond niche market. The course is organized in three main sections. The first section is about the formation, the evaluation of diamond four C’s and the grade of that gems using technical instruments. The second part is dedicated to the analyse of the colored gemstones and the use of technical instruments. The third part is dedicated to the market. Analysing the possibility to invest in a commodity and to diversify an asset portfolio. The course will include a short assignment to be carried out during the course. Students shall work specific on assignment in groups of 2 to 3 participants and shall present their findings. The combination of lectures, talks by professionals and participation shall enable student to gain a basic understanding of this niche and highly complex global market.

Professional Immersion (Internship or Thesis)

The Specialization in Brand Management ensures that curriculum matches the luxury business standards by working with luxury industry players.

The interaction with luxury companies happens through several possible activities:

Attending professional guest lecturers and series of CEO conferences on campus (Chloé, Bulgari Hotel, Galeries Lafayettes, Façonnable, JWT, Parmigiani, Mauboussin, Gucci, Fraser Yachts, Wally, YSL, Safilo, Richemont, Ralph Lauren, Fendi, Cartier, Orient-Express…)
Attending the most important luxury-related events (Car show in Geneva, Monaco Yacht Show and Luxe Pack in Monaco, TFWA in Cannes, Fiera del Mobile in Milan, International Jewelry Show in Valenza, Luxury Briefing conference in London…)

Participating in field trips to reinforce understanding of professional expectations. You visit major firms or industrial plants in European capitals (L’Oréal, Hotel de Crillion Paris, Louis Vuitton, Valentino, Silversea Luxury Cruiseline, Bulgari, Gucci, Ermenegildo Zegna, Azimut Benetti Group, Fendi, Bulgari Hotel, Safilo, Ralph Lauren, Roberto Cavalli, Stefano Ricci,…), having the chance to go straight to the main source of the information.
Taking part in employer branding presentations, inviting HR managers interested in communicating on the company’s values and business results, and in recruiting our students.

Alumni Testimonials

Jessica Campbell, Australian,
MSc in Luxury Management 2014 – Marketing Executive at Chalhoub Group

The MSc in luxury Management program at IUM has enhanced my time management and planning, critical thinking, presentation skills and leadership experience.
For marketing in particular, the subject content included matching academic models with real life case studies and encouraged me to look at innovative strategies to overcome the opportunities and difficulties mentioned. Rigorous practice of these activities is very helpful, as in a marketing role you are constantly going through similar activities and faced with similar questions, so it’s good to have a clear structure to follow to add value to the method and outcome.
IUM also has a class on social media which is really ahead of its time, particularly as luxury brands are only now just starting to accept the social media landscape and partnering with bloggers. We looked deeper at the consumers behind the bloggers, analyzed their impact (negative or positive) and longevity.