Selling the deluxe lineage

Updated on: Monday, July 19, 2010

The Indian luxury market is currently worth Rs 2,400 crore and is growing at 30-32 per cent. And with estimates suggesting that over 200 global luxury brands are trying to get into India, it is certain that there will be a huge demand of professionals in the deluxe space. “Luxury companies aim to enhance their product portfolios to cater to niche segments; there is a need to have segment focused products and brand managers. With the advent of sophisticated analysis tools that enable fine market segmentation, brand positioning and the target market was never more relevant,” says Alok Bansal, a career expert and Founder CEO of Alethia Education Services. A career option that supplies to this demand is luxury brand management. “One must keep the brand popular while retaining its distinctiveness, and apply set management practices to keep it going. Like, one is not supposed to offer discounts — normally given at common retail outlets — to a luxury customer like Nita Ambani. The pitch goes absolutely wrong,” says Udit Mittal, MD, Unison International.

The qualities you should possess

So, what qualities should you have if you want a career in the deluxe space? To begin with, you should come from a strong business management background. Besides being a go-getter with a flair for marketing, you must be good at networking with customer groups (corporate and other high-end society pockets). And last but not least, you must have that touch of class. “The top luxury brands have so far been hiring students trained at world fashion capitals like Milan, Paris and London. But, since the numbers are not strong, one retains them for front-end work only, with back-end operations being given to readily available professionals,” adds Mittal.

The education scenario
Education wise, a Bachelors degree or a postgraduate diploma in fashion design may be the starting point if you want to become a luxury brand manager. While there are not many options in luxury management in India to choose from currently, the few available include the Global Management Programme for Executives in Luxury Management by IIM-Ahmedabad. You could also opt for luxury brand management courses (offered as undergraduate electives and as PG specialisations) in a few European colleges. Later, you could specialise in fashion merchandising, visual merchandising, fashion styling or fashion marketing.

The job market
As a luxury brand manager you could find jobs in sectors like auto, fashion, wines, chocolates, spa services, jewellery, leather accessories and watches, to name a few. You would begin your career as an executive and move up the ranks to become in-charge of exclusive brand showrooms. With experience, you could expect to handle a brand’s regional business expansion plans, organise events, develop promotional campaigns, etc. Luxury Brand Management is a highly remunerative career option, says Dr. Tarun Panwar, CEO, the Indian Retail School.

The pay-off
Starting salaries of freshers passing out from institutes like the National Institute of Fashion Technology, Pearl Academy of Fashion, the Indian Retail School, etc., are in the range of Rs 25,000 to Rs 35,000 per month. After some experience, salaries are bound to go up. “For example, a buyer with an international brand most probably would make around $1,42,000 a year,” says Himanshu Singhal, Director, Mod’Art India. Private institutes like Mod’Art International also offer Masters programmes in fashion management in India, with degrees offered from Perpignan University/Mod’Art Paris. “Even freelance luxury professionals have a good earning potential depending upon the nature of their assignment. With more international brands coming in, the scenario will only get better,” adds Singhal.

Selling the deluxe lineage

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