Some of the Core Courses offered in the MSc in Luxury Management, Fashion and Accessories Management
Please note that this list is not exhaustive and subject to change
Luxury retailing has changed significantly over past few years. Nowadays most of the luxury companies must be able to professionally manage a mono-brand retail channel if they want to improve sales and more effectively communicate the brand image. Distribution is crucial in the luxury sector and retail Buying and Merchandising competencies are necessary to be successful in retail management. In line with these developments, the course will enable students to learn how Buying strategies can meet market and retail needs. The course focuses on broad theoretical framework as well as the tools which are fundamental to luxury retail management. Participants will understand the luxury retail buying and also learn key retail issues and instruments. Particular emphasis will be placed on effective Buying and Merchandising operations and tools along with relevant involved analysis.
Retail marketing activities are based on strategic plans and detailed operations and many decisions are taken with regard to merchandising, business analysis, sales processes, sales force management, in-store communication and a host of other challenging aspects. This MSc in Luxury Management course will enable you to learn how marketing and branding strategies can support and facilitate the business.
This master course focuses on a broad theoretical framework as well as the tools which are fundamental to luxury retail management. You will understand the luxury retail landscape and also learn about key retail marketing issues and instruments. Particular emphasis will be placed on effective retail operations management with a strategic approach.
The course will walk the students through different challenges that a brand is facing, especially the growing online luxury transition and the reason why it’s crucial to develop a CRM and Clienteling strategy to differentiate from competition, and thus transforming the customer himself and evolving each transaction and interaction in a close relationship. The course will provide an overview of the different elements of a winning CRM strategy, how best a brand should be using it and analyze in depth the Clienteling strategy as the future of Luxury CRM. Based on this knowledge, students will understand the key success factors, barriers and best in class approaches to successfully develop and set up clear Customer Relationship Management and Clienteling strategies in Luxury Companies through various practical case studies.
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.
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 retailing has changed significantly over past few years. A variety of trends have converged to create a situation in which retail strategies are arguably the dominant influence on luxury brand development. Nowadays most of the luxury companies must be able to professionally manage a mono-brand retail channel if they want to improve sales and more effectively communicate the brand image. Distribution is crucial in the luxury sector and retail marketing competencies are necessary to be successful in retail management. In the last decade, it has become increasingly harder to reach and influence consumers because they make most of their product purchase decisions in-store. As a result, retail marketing has emerged as a key element for marketing mix implementation and brand positioning control. For retail managers customer experience is also becoming a very important asset to develop. The luxury store is the place where the brand meets the customers and where the customers can live the brand experience. Luxury retail concerns concepts which continuously evolve along with luxury customer’s buying behavior. Retail managers have to implement long-term strategies and at the same time deal with competition issues on a day-to-day basis. Retail marketing activities are based on strategic plans and detailed operations and many decisions are taken with regard to product mix, visual merchandising, business analysis, sales processes, sales force management, in-store communication, and a host of other challenging aspects.
The objective of the course is to free mental resources and look for a fresh, new luxury model for mature markets. Using the learning from the current industry leaders, students will be able to mix the elements of the retail and distribution toolbox to obtain a relevant return on investment, knowing the rules for long term success and innovating at the same time. Critical customer observations will be coupled with traditional analytical tools, to achieve a new flexible vision, without the preconceptions of traditional luxury. Participants will be engaged in discussions and assignments on business analysis, retail KPIs, building and sustaining relationships in retailing, targeting customers, customer experience development. They will be required to research, articulate findings and build business plans to generate profit in the medium term and build the brand credentials for the long term.
Professional Immersion (Internship or Thesis)
The Specialization in Luxury Fashion and Accessories Management ensures that curriculum matches the luxury business standards by working with luxury industry players.
The interaction with these companies goes through several possible activities:
- Professional guest lecturers and series of CEO conferences (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 events and fairs linked with the Luxury world (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…)
- Field trips are organized yearly to further reinforce understanding of professional expectations. Students visit major firms or industrial plants in European capitals having the chance to go straight to the main source of information. Some of the companies visited: Valentino, Kenzo, Acqua di Parma, Louis Vuitton, Silversea Luxury Cruiseline, Bulgari, Gucci, Ermenegildo Zegna, Fendi, Bulgari Hotel, Rossi Moda, Ralph Lauren, Christian Dior Jewelry, …
- Employer branding presentations inviting HR managers interested in communicating on the company’s values and business results, and in recruiting our students.
A word from a professional
Selvane Mohandas du Ménil, Wholesale Director at Sonia Rykiel
Visiting Professor Luxury Distribution class – Master in Luxury Retail Management
Visiting Professor Luxury Distribution class – Master in Luxury Retail Management
After having worked for many years within companies such as Louis Vuitton and Yves Saint Laurent in product and distribution-related positions, I am now Wholesale Director at Sonia Rykiel.
Why Luxury Distribution is a pillar course in the Luxury Retail program?
For the last two decades, international Luxury Groups have been focusing on various topics in order to improve the profitability of their Brands. They first focused on Global Image and Product portfolio, so that their offer was lean and clear to the final customer, plus well-advertised.
Once this cleaning work had been done, they had to focus on how to distribute the said products in the most efficient way. Distribution covers everything related to business, i.e. finding the right locations and format of business, managing the right people, implementing the right processes, always at the service of a vision that needs to make sense. This is why this course is to me quite crucial for students willing to enter a Luxury-related career.
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