This 12-week course structure is curated as a 3-month optional term, as an inclusive part of a 10 months ‘Masters Diploma in Luxury Management’ delivered by LCBS. LCBS students have a great opportunity to expose themselves to the seat of luxury brands and understand the DNA besides the unique system of luxury brand management conceptualized and created by Italian Luxury Brands.
With the expected rising demand, they have customized and designed various programs to focus education and training in areas like brand management, retail services and skills, customer relationship management and more. LCBS targets to secure the Luxury Segment by offering specialized luxury education and re-skilling programs via Executive as well as student education tracks. Global best practices and content formations by world renowned schools like Accademia del Lusso coupled with our extensive experience on the Indian landscape will help bridge the rising gap of skilled talent.
During the course students will see Italian Luxury Goods with their own eyes through guided visits to famous Fashion locations.
Speaking on this association, Abhay Gupta, Founder & CEO LCBS, commented on the value offering created by LCBS in academic collaboration with ADL as “a unique opportunity & benefits to its students to learn, network, engage, immerse & experience the global perspective of handling true luxury brands, their environment and the matured luxury consumer behaviour. The learnings carried forward from this stint will help them implement better and more robust strategies back home in their emerging market and evolving consumer base. For LCBS, this collaboration will pave new pathways and create history in the domain of luxury talent in India and other emerging markets.”
The International University of Monaco will welcome Indian students from three programs offered by LCBS. The programs namely EDLM (Executive Diploma in Luxury Brand Management), PGDLM (Post graduate Diploma of Luxury Management) and EM-LBM (Executive Master in Luxury Business Management) are designed as a unique blend of Indian as well as overseas education. The students will spend 70% of their academic time in India and 30% at the IUM campus. The students will participate in certified tracks offered by IUM. The first batch of EDLM is scheduled to commence from February 2014 with the first exchange program taking place in April 2014.
Students will have the opportunity to take courses in areas such as Luxury Services, Luxury Management, Retail Management and Luxury Hospitality etc. They will be in touch with key players in the luxury industry and gain hands-on knowledge of the major aspects of luxury management through active learning and project work. The International University of Monaco will be providing teaching staff, and will deliver a certificate for the courses successfully completed at IUM.
Speaking at the announcement, Abhay Gupta, founder and CEO of Luxury Connect Business School, said: “I am delighted to officially launch this partnership between IUM and LCBS. For the past several years, luxury in India has seen a consistent growth of about 20% PA. Luxury brands in the Asian region increasingly need trained, professional managers. The Luxury Connect Business School has grown strongly in recent years developing a relationship with European luxury market actors, and business schools specialized in luxury management, like SDA Bocconi, BSL Lausanne.
The International University of Monaco is pleased to work closely with LCBS in developing this sector of business education. The schedule foresees a further similar program in luxury business management for a 2016 launch.
LCBS has tied up with SDA Bocconi School of Management, Italy to launch a luxury business management programme in India. It has also collaborated with Jean Claude Roustant, former retail training director at Louis Vuitton, to offer a luxury customer experience management programme. One of the biggest problems faced by luxury brands in the country today is shortage of trained manpower. By 2022, the Indian luxury products and services segment will required close to 1.76 million trained people to work at all levels.
“The new venture will also offer consultancy, helping international brands set up shop in India and Indian brands go global,” says Gupta, who has launched the consultancy. The Indian government recently allowed 100% FDI in single brand retail but with a rider that 30% of the sourcing will be done from Indian SMEs. Luxury Connect will also offer assistance to international luxury brands in sourcing products and services from India.