Luxury Brand Management

Luxury Brand Management is all about maintaining a perfect equilibrium between business and innovation for luxury brands and it requires some customer interaction. Considering the growing awareness, availability, and willingness of the people to spend on luxury items has led to a fast and increased demand for luxury goods. Professionals from luxury brand industry are fascinated about fashion and are conscious about keeping themselves updated with ongoing and upcoming fashion trends. Luxury Brand Management is a specialized area of management where the business management of luxury brands is taken care of. All it involves is aggressive strategy, management of multiple-brands, analyses of luxury brands consumption, considering markets and consumers trends, and deciding budget for brand building.

The Luxury Brand Managers are responsible for designing and developing marketing strategies and campaigns for the promotion of luxury brands. Coordinating with different departments for smooth functioning, conducting market research, need to be updated with the current trends and styles. Also these professionals should be well informed about the prices and advertising strategies. Meeting suppliers and negotiating cost for various strategies is also their duty. 

Significant Statistics

• Aspirant must have done internship or gained practical experience while on job
• Mathematics is required to study BMS from Delhi University
   

Pros

• Contacts and networking with high-end buyers and high-end retailers like celebrities 
• Travel opportunities
• Strategic roles and opportunity to plan big budgets

Cons

• Long working hours
• Stressful work schedule
• Need to be well informed about latest trends