20 January 2022 09:29:26 IST

What an MBA in luxury management involves

Besides fashion, luxury can also involve automobiles, travel, and hospitality. 

Luxury is subjective and cannot be defined easily. It typically signifies something expensive or unique, but that can also vary from person to person. This sector has grown exceptionally in the last decade and emerged even stronger during Covid, where the majority of industries suffered huge setbacks and downfalls. Social media has been an accelerator. Branded content has become pervasive across social media platforms and consumers are producing branded content themselves.

Luxury retail in India, especially in the metro cities, is constantly evolving. Major players such as RBL, ABFRL, and TATA are investing heavily in both international and local markets and focussing on providing a premium retail experience for consumers. The industry is at the cusp of transformation. More and more brands are venturing into this market and the ones who have been around are experiencing massive growth. The recent acquisition of Sabyasachi by Aditya Birla Group, and Ritu Kumar by Reliance Brands Ltd, shows the potential of Indian luxury players, who will soon emerge as big players in the global luxury landscape. More retail luxury players mean more jobs!

There is an increased demand for skilled young talent in this sector, who have the flair for writing and is technologically sound to carry out detailed work with meticulousness. Those good at writing, have a passionate interest in digital marketing, understand quality-driven visual content, have great future prospects.

Other than the newer roles such as digital brand managers, brand content creators, and so on, there has always been consistent demand for those with communication skills to deal with HNI clients and consumers in the luxury space. The industry also hires talent from all across the globe and mobilises talent. Companies are always on the hunt for unique talent that grows along with them and brings innovation and zeal into the industry.

Skills and opportunities

  • Good communication is key
  • Clarity of thoughts is extremely important
  • Candidates willing to nurture long-term associations are preferred to reduce employee turnover
  • Whether experienced or fresher, willingness to learn new skills must be there
  • Candidates from diverse backgrounds are better as they have more exposure and are ready to adapt to the ever-changing market conditions
  • Social media and digital skills are vital
  • Networking is extremely important
  • Candidates must believe in strong interpersonal bonds with all stakeholders
  • Passionate about the field
  • Readiness to adapt to different job duties and responsibilities

Roles and responsibilities

Marketing and sales dominate placement season usually. Some other most common job opportunities for the candidates include:

  • Public relations
  • Research analyst
  • Content writing
  • Business development
  • Operations
  • Digital marketing
  • Fashion consultants
  • Social media
  • Branding manager

 The writer is Director, Master in Global Luxury Goods & Services Management, SP Jain School of Global Management.