India is the fastest-growing market for luxury goods and is projected to contest China’s position as the world’s leading extravagant consumers.

According to a report from Euro Monitor International, it is expected to grow 86 per cent in constant value terms by 2019. The traditional Indian custom of personal adornment has led to a strong demand for such accessories, opulent jewellery, timeless timepieces, designer clothing and footwear. A non-existent sector, till a few years ago, luxury management now offers exciting opportunities.

It requires an understanding of heritage brands and the ability to network with niche market segments. The field is best described as an interdisciplinary subject that applies time-tested management practices to businesses offering premium services. It has become popular as the landscape and has changed over recent years.

New brands are employing innovative marketing and promotional campaigns that challenge the position of established names. Big brands are also exploring new markets beyond their traditional domains.

At the same time, more people around the world are becoming interested in branded luxury goods. This has also created greater demand for products, and B schools. The intensive programme has been planned to provide a thorough grasp of all important skills. It consists of various modules covering different aspects of luxury and how to manage its intricacies including customer service. It is based on an industry specific perspective and designed to give future graduates a leading edge in the booming luxury market.

The programme prepares a student to manage and lead a luxury brand across emerging markets by focusing on these regions. The postgraduate diploma has been thoughtfully designed for those who have recently graduated from any stream, and/or for professionals with some experience in fashion/retail sector, but wanting to move to luxury. Students who want to make their career in this field must have good communication skills with amiable personality and a command over spoken English. Knowledge of a foreign language will be given added advantage.

Entry to most top colleges in luxury management is through entrance exams comprising a combination of aptitude tests and creative ability tests. A strong business management background coupled with functional experience is essential to the success of a luxury manager. Since it involves a high level of customer interaction, those with a natural flair for networking, especially with the corporate clients and customers and with the ability to build a rapport with key decision makers, will do well for themselves in this industry.

The course will open doors for the students in national and international industries. After its completion, they can work with retail chains, design, export or media houses, independent designers, or start their own venture with roles like luxury sales advisor, luxury retail marketing executives, luxury senior sales advisor, visual merchandisers, assistant store managers, customer relationship manager, store manager/director, area manager, retail head/associate, brand head and fashion marketer.

Back-end profiles include PR consultant, event planner and manager, international conference manager, retail merchandiser, logistics manager, supply chain manager, wardrobe manager, luxury consultant, fashion buyer and brand manager among others.

The writer is Deputy Director Operations, Luxury Connect Business School