Salut, mon ami! The luxury industry has dramatically changed in recent decades, through continued evolution in digital technologies, international markets, and consumer trends. Today’s successful companies are the ones that have preserved their heritage and fundamental values of beauty, creativity, and exclusivity, but at the same time, adapted to new trends and made the most of emerging opportunities.
Luxury management requires you to be both highly imaginative and highly disciplined. These are exciting times for the luxury industry, where the focus is on expanding to fascinating yet challenging new markets. Leading these expansions are international managers equipped with cutting edge management tools and creativity, who are very much in demand. Pursuing an Executive Masters in Luxury Management (EMiLUX) is a unique opportunity for talented international professionals, who desire to advance their career in this dynamic industry.
France has some of Western Europe’s leading business schools offering an MBA in International Luxury and Brand Management, the top ranker being the ESSEC Business School. Similarly, the MSc in Luxury Management & Marketing by the Emlyon Business School is at No. 8 in the Eduversal 2018 Best Business School Rankings. EMiLUX is a post-experience, modular executive program, taught over 13 months and spread over 5 cities. Doors that never existed till then will start opening to the participants of this program. Their acquired knowledge will enhance their competency, thereby helping them successfully meet professional and personal goals.
The requirement for getting admission to the program is a university degree (in any discipline) with a minimum of 5 years of work experience (not necessarily in the Luxury industry). Moreover, the candidate must be at least 27 years old and must furnish a TOEFL or equivalent English proficiency test with a band 7 or above since English is the language of instruction across all business schools in France. Further, an added advantage of studying in France is that most of the EmiLUX degrees are double degrees, a coalition of two leading business schools, be it MIP and Neoma Business School in Paris or the Qualification degree by ESSEC Business School and specialization certificate by SDA Bocconi School of Management. Admissions to the Masters in Luxury and Brand Management and the MBA begin in September/October and the course is of 12 month duration, full time.
The course in luxury management is offered by business schools outside of Paris as well and schools featured in the Eduversal rankings. The fees for the course range from 30,000 Euros to 37, 000 Euros, depending on the location and ranking of the school. The admission interview is the most crucial round for getting selected, and the resume of the prospective student also plays a large role in getting shortlisted. In addition, the candidate must be able to eloquently and succinctly prove his/her inclination towards the luxury segment.
Student housing in France is streamlined, and there are rooms earmarked in the university residences, also called cités U (U-residences), managed by the CROUS (Regional Centres of University and Academic Services), which is the most cost-effective student lodging. You can choose to contact the international relations department of your institute to find out if they have a specific agreement with the CROUS that is if you are planning to study and live on the Paris campus.
Private residences, though expensive, can have their own advantages. Check out the Résidences Estudines, Association pour le Développement Économique du Logement Étudiant (ADELE) and Centre de Logement pour Etudiants de France (CLEF) for housing facilities in the small cities and towns of France that are not served by CROUS. The average rent should range from 300 Euros to 600 Euros per month, excluding the cost of utilities, food, telephone and other such services. An international student with a study visa in France can take on paid work for a total of 964 hours in a single year as long as he/she possesses a valid residency permit. On the other hand, long-stay visas act as residence permits and are called VLT-TS, which can be availed by all international students, who wish to enrol in a course at a French institute of higher education.
Most of the business schools in France have a strong alumni association and routinely place students with avant-garde fashion labels after the successful completion of the course. Given that the business of luxury goods is not susceptible to routine economic market fluctuations, there is concrete growth in the sector and it is predicted that the demand will only grow with time. For a student of luxury brand management, studying in France will provide a strong knowledge base, which would allow one to be alive to evolving trends such as the ones experienced there. At ESSEC, the placement office boasts that 95% of those with an MBA in International Luxury Brand Management find positions within the luxury sector with salaries ranging from 40,000 Euros to upwards of 65,000 Euros, depending on experience.
So if you have an interest in luxury brand management, then you would be most benefitted from a degree in the same from France. Contact our expert counsellors today to know more about the study opportunities in France.