Luxury Management specialization
This Career Track has been designed for those MBA students who would either like to enter the luxury sector, or fast track their careers in it. The IUM MBA Luxury Management specialization takes an integrated view of luxury.
The Master of Business Administration students will be exposed to the unique market and competitive characteristics of different luxury sectors, such as fashion, jewelry, yachting, private aviation, real estate, hospitality and event management, etc. IUM MBA Luxury students will also be able to focus on specific luxury career functions, such as marketing, communication and branding; retail buying and merchandising; or luxury tourism marketing and sales, amongst others.
SPECIALIZED COURSES
Classes combine theory and practice through lectures, case studies and projects. Besides the concepts taught and discussed in class, students will develop skills through the group project.
Underlying the approach of this course is the “service perspective”. Ac-cording 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 fields of hospitality, retail, wines, art, event management, and professional services.
But after a slow start, the industry has raced forward to seize online opportunities. Being late in the development has allowed players to take advantage of established technologies and learn from the missteps of first movers and, today, the luxury industry is evolving towards a new reality where the physical and digital worlds are merging, allowing brands to tap a deep pool of profitable growth.
This course offers insights and execution plans on digital key strategies and business models in the luxury industry.
Alumni Testimonial
After being at a big name school and at big name companies I was tired of the competition,” she explains, “its well-balanced here. Students aren’t competing against each other. Everybody was looking for a life change. We were here to learn the foundation of business, entrepreneurship and luxury for instance. In addition, the student-teacher ratio is really good and there’s a real one-on-one approach. There was also lots of hands-on experience, inside and outside the classroom (mentorship program, networking, LinkedIn profile tips) as well as case studies and simulations.
Finally, the visiting professors at the university were all real business people in the real world with their own businesses, “when they are coming to teach you, they are using real life examples, in today’s business area, so we were really getting the latest and greatest information on how to be successful.

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