Luxury brand management requires a different skill set compared to the standard brand management. Some of the classic management and marketing rules don’t apply when it comes to luxury brands. Luxury as a market is huge with a global turnover estimated at about $200 billion annually. It is a difficult market to break into and the brand building exercise has no shortcuts but takes time in establishing its credibility and prestige. This is where luxury MBA comes in to equip the executives and managers with the specialized skills to manage a luxury brand.
HEC Paris, over a century old Business school from Paris has created a two week ‘Luxury Major’ program to meet the special needs of the industry. This two week module actually forms part of their Executive MBA program. This short but intense program aims to impart the participants with the necessary skills and understanding required for developing and managing a luxury brand. This program deals with the core issues of a Luxury MBA. Professor Jean-Noël Kapferer is teaching this course and it has been split into two with the participants spending a week each in two of the world’s leading fashion centers: Paris and Milan.
Prof. Kapferer clarified that the choice of centers should not lead the participants to think that the focus of the program is on fashion. In fact the program would help the participating executives understand the successful strategies behind luxury cars, services and more. The HEC Paris is now present in multiple locations and offer their Luxury MBA or short Luxury Major in six different areas including Entrepreneurship, Aerospace and Aviation. HEC Paris has recently entered into an agreement with the Qatar Foundation to offer a module on the Management in an Energy-Concerned Economy in Doha, the capital of Qatar.