MSc in Luxury Management
Fashion and Accessories Management

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.

The luxury store is the place where each brand meets its customers and where the customers can experience the brand. Luxury brands must be able to professionally manage a mono-brand retail channel following the customers’ behaviors if they want to improve sales and more effectively communicate the brand image.
The course enables students to learn how a retail store is not only a distribution channel but is a key marketing tool in support of the branding strategies. The course focuses on a broad theoretical framework as well as on the tools, which are fundamental to luxury retail management. Participants will analyze the luxury retail landscape and learn key retail marketing and operations characteristics and challenges.

The objective of the course is to free mental resources and look for fresh, new luxury business models for mature markets. Using the learning from the current industry leaders and new entries, students will be able to mix the elements of the retail, distribution and product toolbox to obtain a relevant return on investment, knowing the rules for long term success and innovating at the same time.

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 brand credentials for the long term.

This course introduces students to the international market of diamonds and jewelry. The course analyzes the following four major topics:
a) The knowledge about the evaluation of diamonds and some precious stones,
b) The grade of those gems using some technical instruments,
c) The diamond investment market, and
d) the analysis of the possibility to invest in a commodity and to diversify an asset portfolio.
The combination of guest lectures by professionals and participation will enable students to gain an understanding of this niche and highly complex global market.