The global luxury industry has never been so diverse. Today's luxury professionals must possess the capacity to evolve; they require an international outlook and an acute knowledge of this complex and discerning marketplace.
The Luxury Goods & Services track merges strategic thinking with corporate creativity, and integrates rigor and intellectual scope, vital to successfully understanding the high-end market. It focuses on how the luxury industry interacts with the economic, cultural and technological environments of the twenty-first century, the characteristics of today's luxury consumer and the resonances generated by high-end goods and services.
Exploring the current and on-going challenges facing the wider luxury sphere, the Luxury Goods and Services track seeks to produce imaginative practitioners able to apply their business knowledge and creativity across specific industries.
during the Monaco Symposium of Luxury
This MSc's degree program is an intense full immersion into general luxury business management subjects enabling you to face and solve different issues of strategic planning and luxury portfolio management. It introduces you to the operational, financial, marketing, and product issues that impact strategic and business decisions, while providing a focused insight into the wider traits of the industry.
The program provides all the theories and practical knowledge necessary to develop the skills that can lead to careers in:
- Product and Brand Management,
- E-commerce and Luxury Distribution,
Upon successful completion of the program in Luxury, participants will be able to:
Please note that this list is not exhaustive and subject to change
We provide you with the opportunity to critically review microeconomic and macroeconomic theories, conceptual frameworks and other models in order to understand the dynamics of a given industry and to conduct in-depth analysis within the Luxury Goods industry. All this culminates in the preparation of an Industry Analysis Report in which you should demonstrate the knowledge acquired throughout this MSc in Luxury Management course.
This MSc in Luxury Goods and Services course provides an overview of the entire luxury marketing management process in a global context. It explores the role marketing plays within luxury companies and focuses on the development and analysis of consistent marketing strategies. It describes how consumers are the focus of all marketing actions and how environmental changes influence marketing strategy development and implementation.
This MSc course introduces you to the ways in which marketing communications are used within the global brand marketing strategy, with a specific focus on the luxury industry. It examines ways in which communication strategies establish a dialogue between providers of a luxury product and their respective publics or markets.
This MSc in Luxury Management course focuses on organizational behavior and systems, and human resource management for the luxury industry. It concentrates on the variables that affect behavior at the individual level and then goes on to a thorough examination of the foundations of group dynamics.
This Master of science course will develop a framework for understanding the essential elements needed to audit “the service” that is provided in luxury companies. It emphasizes learning more about customers' needs and behaviors in order to develop stronger and more efficient relationships with them. The final session examines how to effectively present and communicate the audits to a luxury company, which will then be presented publicly, in a professional, quantitative and qualitative manner.
This MSc in Luxury Goods and Services course approaches its subject matter from a relational viewpoint. That is, it emphasizes learning more about customers needs and behaviors in order to develop stronger relationships with them, through technology and by integrating information about consumers, sales, marketing, responsiveness, and luxury market trends. Topics include CRM and the sales force, and the use of CRM software to manage a sales force; lead and contact management tracking; forecasting sales leads and the importance of conversion rates; customer interaction and the Web; and call centers and help desk management.
You will learn how to use CRM technology to gain insight into customers and understand the critical value customers possess. On completing the course, you will understand the importance of using CRM software to create, track, and manage partnerships, contracts, and agreements; and in distribution management.
As part of your Master of Science in Luxury Management program, you will follow a Career Development Seminar, divided in 3 sequences, to support you in your internship and job search strategies.
Some of the companies where IUM MSc in Luxury Goods and Services Alumni have interned or are still working: Balenciaga, Celine, Chanel, Harry Winston, Mont Blanc, Galeries Lafayettes, Printemps, Paco Rabanne, Hugo Boss, Patek Philippe, Ralph Lauren, Vacheron Constantin, Burberry, Faberge, Fendi, Richemont, La Bottega dei Ciliegi, Chalhoub Group, Emilio Pucci, L'Oreal, Quintessentially, Tiffany, Salvatore Ferragamo, Swatch Group, Tourbillion, Campari, Pernod Ricard, Ogilvy Public Relations, Fraser Yachts, Armani, LVMH Fragrances, Carolina Herrera, Karla Otto, Azzaro, Swarovski, BMW.
I would not have been able to successfully obtain a marketing position in my dream company without having completed the Masters in Luxury Management.
The numerous opportunities we had in our courses to create luxury brands and their brand extensions made me confident in my proposals and executions during my internship.
The courses instilled in us what it takes to be a luxury brand and what luxury consumers are expecting today. I learned through my PR and Marketing courses how to target the exact influencers, retailers and events that coincide with a brand's identity and how to send the right message to your consumer.
The MSc in luxury Management program at IUM has enhanced my time management and planning, critical thinking, presentation skills and leadership experience.
For marketing in particular, the subject content included matching academic models with real life case studies and encouraged me to look at innovative strategies to overcome the opportunities and difficulties mentioned. Rigorous practice of these activities is very helpful, as in a marketing role you are constantly going through similar activities and faced with similar questions, so it’s good to have a clear structure to follow to add value to the method and outcome.
IUM also has a class on social media which is really ahead of its time, particularly as luxury brands are only now just starting to accept the social media landscape and partnering with bloggers. We looked deeper at the consumers behind the bloggers, analyzed their impact (negative or positive) and longevity.
IUM is not just a university. It's a multicultural lifestyle environment of professional colleagues and lifelong friends that just completely changes your life.
It changes you personally and professionally, introducing you to the luxury world.
I've been leading key projects in Talent management and Leadership development for Giorgio Armani, Prada, Ralph Lauren, Bottega Veneta among others.
This is my 4th year here at IUM and I am always surprised by the great talents I've got in class, helping them to create a teaming setting, sharing their insights in a multicultural environment and let them start practicing the required leadership skills to effectively help them express their full potential in the real workplace. I challenge them to work as in a real business leadership workshop. They appreciate this learning approach, enhancing the full value of their diversity and their potential.
The students of this course appreciate mostly the interactivity, the good balance between theory and practice and they find the management tools provided easy to apply, even in their private life. Some of the students thank me because they say the course was also useful for their job interviews.