Luxury Brand Management Career – Everything You Need to Know!
Luxury brand management has existed for as long as the fashion business, although its appeal has only expanded dramatically in recent decades. To appeal to the target audience, brand managers undertake strategic promotional and branding efforts. As a result, luxury brand management is a key driver of the fashion industry’s success. All brands, large and small, have brand managers in place to market their premium products to the public. Luxury brand managers play an important part in corporate choices due to the experience and value they bring to the organization.
The influx of luxury goods into the Indian market recently has led to a significant rise in the number of people pursuing careers in luxury brand management. Numerous surveys predict that the luxury market in India will rapidly quadruple over the next two years. Consequently, there will be employment chances in the precisely operated luxury industry for those with life experience.
Table Of Content
What is Luxury Brand Management?
Importance of Brand Management in the Global Market
What is the Scope for Luxury Brand Managers?
Skills Required for a Career in Brand Management
What Does a Luxury Brand Manager Do?
Best Courses to Become a Luxury Brand Manager
Luxury Brand Management Salary in India
Jaro Education: Let Us Help You Build a Successful Luxury Brand Management Career Ahead
Conclusion
Frequently Asked Questions
What is Luxury Brand Management?
Luxury brand management is a specialised field that focuses on preserving premium brands’ exclusivity, attractiveness, and prestige. It includes various businesses such as fashion, vehicles, jewellery, watches, hospitality, and fine dining. Luxury brand managers are responsible for developing the brand’s identity, promoting it to affluent consumers, and maintaining its excellent reputation. This position entails careful planning, creativity, and maintaining a high level of customer service when catering to high-net-worth individuals (HNWIs) and luxury consumers.
Importance of Brand Management in the Global Market
Luxury brands make a big contribution to the world economy. The luxury market thrives on exclusivity and quality; therefore, brand perception is critical. Luxury brands are primarily concentrated in France, Italy, the United States, the United Kingdom, and Switzerland. With rising prosperity in emerging nations like India, China, and the Middle East, the demand for luxury products and services is increasing. The digital transformation of luxury businesses is also changing how consumers interact with them, creating new opportunities and challenges for luxury brand managers.
Academic Credentials
The academic qualifications required to pursue a career in luxury management:
- A Bachelor’s degree in Brand Management or any course related to the same,
- Master’s degree in the specified luxury stream.
- A diploma in the specified field that you would like to continue in.
- If you want to pursue this course abroad, then an IELTS score will be required.
What is the Scope for Luxury Brand Managers?
India offers a wealth of potential for managers of luxury brands. The following are typical job categories for them:
- Perfume and Cosmetics
- Fashion and Apparel
- Jewellery and Watches
- Interior Design
- Art and Collectibles
- Wine and Spirits
- Automotive
Skills Required for a Career in Brand Management
However, in addition to the listed academic credentials, you should possess these skills to continue in the ever-changing and challenging luxury industry:
1. Devotion
It can be challenging to excel if you lack commitment. So, ensure that you are committed to the luxury business and the specialization that you wish to pursue. These skills will help you shine and succeed in your career.
2. Agile-minded
If you know how to work on difficulties smartly and deal with business concerns clearly, especially when under pressure, you will be able to flourish in this career significantly.
3. Communication Expertise
Most sectors, even luxury, require excellent communication skills. So, strengthen your interaction skills and demonstrate your unique abilities. These skills can strengthen your relationships inside your organization and develop a successful culture.
4. Thirst for Knowledge
Since the luxury industry relies on current trends, you must be eager to learn about your competition and what would work best for your company.
5. Diligence
It’s called luxury for a reason, which is why in this profession you must pay close attention to detail and be meticulous enough to detail everything.
What Does a Luxury Brand Manager Do?
Luxury brand management is about to become an economic phenomenon. To properly strategize, a luxury brand manager must closely evaluate industry trends and research customer needs and demands. Luxury fashion brands hire managers capable of developing and implementing brand strategies that can have a big and positive impact on the company’s image. So, what precisely do luxury brand managers have to perform throughout a typical business day?
- Market research for target products and customers
- Sketch product and distribution plans
- Brand and resource budgeting
- Planned and supervised advertising campaigns
- Network with external agencies and promotional representatives
- Oversee marketing staff and assignments
Best Courses to Become a Luxury Brand Manager
Various institutions offer graduate and postgraduate courses to prepare individuals for careers in the luxury industry. The Executive Programme in Brand Management Programme offered by the Continuing Education Programme (CEP), IIT Delhi, provides a global perspective on the luxury industry to the students.
The Executive Programme in Brand Management provides a thorough educational experience through live online sessions and is taught by renowned facilitators from IIT Delhi and industry professionals. The curriculum emphasizes practical insights and is tailored to industrial requirements. Lectures, tutorials, conversations, real-world case studies, and projects are examples of immersive learning activities in which participants take part. Through the integration of theoretical knowledge and practical experiences, this programme gives students the tools they need to succeed in the ever-evolving industry of brand management.
Here are the programme highlights:
- Certificate – Certificate of Successful Completion from CEP, IIT Delhi
- Virtual Classroom – Live Interactive Sessions by IIT Delhi Faculty
- Online Assessment – Industry-Oriented Insights
- Peer Networking – Case studies driven learning
- Student Learning – Problem-solving and peer-to-peer learning through capstone projects
Check the Programme Details for the luxury and brand management career:
Eligibility:
- The programme is open to graduates (10+2+3) from a recognised university (UGC/AICTE/DEC/AIU/state government/recognized international institutions) in any discipline.
Screening & Selection:
- Candidates will be screened and selected by IIT Delhi.
Assessment Criteria:
- Evaluation will be based on the Capstone Project.
Attendance Requirement:
- A minimum of 70% attendance is mandatory.
Luxury Brand Management Salary in India
A Luxury Brand Manager’s remuneration is determined by the hiring firm and the candidate’s level of expertise. However, the average salary information for luxury brand management in India is provided below.
| Job Profile | Luxury Brand Manager |
|---|---|
| Years of Experience | Salary (in Rs.) (Approximately) |
| 1 – 3 Years | 6 to 7 Lakhs |
| 5 – 7 Years | 13 – 14 Lakhs |
| 10 – 12 Years | 25 – 30 Lakhs |
A Luxury Brand Manager not only enjoys high perks but also gets a chance to lead an upscale lifestyle besides maintaining close relations with renowned celebrities and industrialists.
Jaro Education: Let Us Help You Build a Successful Luxury Brand Management Career Ahead
If you want to pursue a Luxury Brand Management career but are confused about where to start, let the experts at Jaro Education assist you. Jaro Education is a highly professional and reliable portal that offers the best career guidance and counselling. To bridge the gap between online education and participants, we provide 150+ courses and degree programmes in collaboration with prestigious universities and colleges.
Conclusion
Luxury brand management has a wide range of employment opportunities as the demand for luxury products increases. If you are fascinated by the term “luxury” and what is yet to be discovered in this profession, are a people person, or simply want to explore the world of opulence, then these are the appropriate job options for you.
The wonderful news is that opportunities in the luxury domain are at an all-time high,, not only in India but around the world. So, prepare to transform your interests into a living. If you are still unsure about which career to pursue, you can contact our specialists via online career counselling.
