Learning about Luxury Brand Management on an MBA

The following article is sponsored by the University of St. Gallen, a leading European business school based in eastern Switzerland. 

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If you have a passion for luxury watches or designer bags then be sure to choose the right MBA program – one that provides you with an insight into luxury brand management.

A specialized brand management course

A varied set of modules within a good MBA program with a focus on specialized industry areas can help candidates develop a strong sense of what luxury brand management involves.

The MBA program at the University of St. Gallen now includes electives with ‘industry insights’ within the modules on offer. The luxury goods elective features guest speakers from leading luxury brands, from whom candidates can learn about the history and challenges facing luxury brand management today, and with whom they can network.

Stefano Fenili, manager with leading business consulting firm Bain and Company is one such speaker, discussing luxury consumption and distribution with candidates who have chosen this elective. He believes that a process like this can help candidates get a broader view of growing trends and not just the strategy.

“It’s good to share our experiences and knowledge with young potential customers and consultants and it’s good to deliver questions to potential customers as well as professionals as it helps us fine-tune what we deliver.”

Case studies in luxury management

MBA programs at top schools allow candidates to combine both theory and practice, strengthening their understanding of how the industry works, and how they can contribute with their skill-sets.

To emphasize the importance of understanding the real-life scenario, German luxury car brand Porsche brought a case study to the classroom, to give candidates an insight into what they would need to know if they were to work on launching the new Porsche MACAN.

“I think it’s a good idea to have these industry insights that mix theory and practice. For us, it’s always interesting to get with new talent and how they think and react and to get into discussion with them and their insights,” says managing director of Porsche Switzerland, Stephan Altrichter.

Candidates who want to build their careers in specific areas like luxury management can profit tremendously from case-studies such as these, which give them scope to understand the environment in which they will function and the skills they would require in order to succeed in their roles.

Learning from leaders in luxury management

The exposure to industry leaders in luxury brand management allow both candidates and the professionals who deliver these classes to glean important insights from one another.

At one presentation, sought-after firm Ernst & Young conducted a study called ‘Luxury From a Producer’s Perspective’, while also showcasing various trend-impacting models based on price, promotion, product and place. “We think it’s important to get in contact and speak to people in their early career and development. We are interested in the opinion of the future business leaders,” says Florian Huber, who is a partner with the firm.

Watchmaking giant Omega too has delivered a presentation to the luxury goods class as Jean-Pascal Perret, vice president of marketing says, “It’s very good for Omega to have an opportunity to talk to student leaders.”

These industry insights allow candidates to put forth their views as both consumers and as potential employees, and also help them find the pulse of the luxury industry as shown to them by the market leaders themselves.

This article is sponsored by the University of St. Gallen, a leading European business school based in eastern Switzerland.