Luxury is all about experience, it is all about aspiration, it is about dreams and the well travelled Indian wants to re-live the same international experience in their own country.
Over the last few years, with the economy doing well and more disposable income, there has been a change in the consumption pattern of the Indians. The spurt in affluence, and the emergence of a new breed of young population has led to a rapid growth of the luxury sector. There is a voracious appetite for luxury products such as jewelery, cosmetics, fragrances, electronic gadgets, automobiles to luxury services like hotels, spas, real estates,exquisite holiday destinations, to the big fat Indian weddings.
India has become the prime destination for top-notch global and domestic brands. Many high-end luxury brands have set up shop here, some are at the threshold waiting to enter and many more are eyeing India. The latest ASSOCHAM report said ‘Indian Luxury market will cross $18.3 billion by 2016; India’s luxury market will break all times record in 2016’
One of the gravest challenges that the growth of the luxury industry in India faces, is a dearth of skilled and talented persons who understands the Indian luxury consumers, who can understand the luxury product and services, the marketing, financial and operational aspects of luxury and who understands the idiosyncrasies of both the domestic and international Luxury industry.
In order to bridge this gap MIP Politecnico di Milano Graduate School of Business - Milan announces the launch of their new Masters Program – 'Master in Global Luxury Goods and Services Management' (MGLuxM), in partnership with S P Jain School of Global Management.
The program exposes the participants to the world of global luxury and relates and connects it to the bursting emerging luxury markets like India. The industry centric curriculum and real life projects both in India and Milan would give them a complete grip over the nuances of the developed European luxury markets and the rapidly growing emerging markets.
On successful completion of the program, students will receive an internationally recognised 'Master in Global Luxury Goods and Services Management' degree from MIP and a 'Certificate of Completion' from S P Jain.
Please Note: This program is not accredited by TEQSA, Australia.
On successful completion of the program, you will be awarded a Certificate of Completion from S P Jain School of Global Management, and an international Master in Global Luxury Good & Services Management (MGLuxM) degree from MIP Politecnico di Milano Graduate School of Management, Milan.
- Understand Indian luxury consumers, products & services, and the marketing, financial and operational aspects of the domestic luxury industry
- Understand Indian markets: a multicultural perspective
- Understand idiosyncracies of the luxury sector in emerging markets
- Turn design into luxury products and collections
- Turn superior craftsmanship into operations excellence
- Create luxury experiences through communication and retail
- Get exposed to the luxury industry in Milan and neighbouring European luxury capitals
Create a plan for a new luxury brand or business
Undetake research in an area of international luxury management
Pursue an internship with a luxury brand
Participants of the program are guided and stimulated by a world-class body of local and international faculty comprising highly skilled industry experts and leaders. Their repertoire of industry experience and research background establishes them among the leaders and opinion makers in the industry. By joining the program, participants have the opportunity to develop their knowledge with the guidance of faculty that is strongly dedicated to the creation of an intellectually stimulating classroom – where new ideas are initiated, developed and launched.
ANDREA SIANESI (DEAN - MIP MILAN)
ALESSANDRO BRUN (PROGRAM DIRECTOR - MGLuxM, MIP MILAN)
- “Global” - where participants will receive basics of intercultural management, to be prepared to apply the master’s contents globally
- “Luxury” - with an introduction to the luxury sector and the meaning of luxury
- “Management” - with an “MBA in a nutshell”, where all major General Management topics (from strategy to marketing, accounting and organisation, supply chain and finance)
- first, professors will introduce tools and methodologies useful to understand the luxury industry processes
- managers will discuss the practical implications of the studied theories, sharing their success stories with participants
- finally, a study tour through half a dozen of the most important luxury districts in Italy and Europe (from german cars to watches in Switzerland, to leather and champagne in France), will allow students an up-close-and-personal view of the processes behind-the-scene, with factory and showroom tours and meeting with managers and executives.
India is one big country but it is very important to understand that it cannot be treated as one big Luxury market. We could divide the country into East, West, North South and Central Zones. The motivating factors to buy luxury is different in each zone and hence, it becomes imperative for all, in the luxury space to understand the nuances and the factors effecting the same.
The ‘MGLuxM’ program is going to deep dive into the various facets of luxury both from Indian, as well as, international perspective. The participants of this program will get an opportunity to get in depth understanding of the Indian luxury market and also similar luxury markets in Europe. By the end of the program, students would be best equipped to start their careers or set up entrepreneurial ventures in the luxury space. They would be able to correlate the distinctions of the developed European luxury markets and the whimsical nature of the Indian emerging luxury markets.
I am very excited about the MGMLux program as everyone is looking to India as the prime destination and this program would add tremendous value to the participants who enroll for this program.
Young graduates with at least a Bachelor’s degree of three years from recognized university in India or abroad
Participants who have an aptitude and appetite to work in the luxury space
Participants with excellent written and spoken communication skills (proficiency of the English language is a must), leadership and managerial skills, and the willingness to meet the demands of a rigorous Master’s degree.
- Submit an online application form along with the following supporting documents like:
- University degree transcripts
- Passport copy and photo
- The Admission Committee will shortlist candidates based on several criteria, including past academic performance, work experience (if any) and other information provided to us. Normally, this process takes up to 5 working days.
- Shortlisted candidates will be called for further evaluation (Evaluation Fee of Euros 100 to be paid before the evaluation).
- A verification process will be conducted by MIP Politecnico for candidates who have been selected for admission to the program.
- On successful verification, an offer is made within 10 working days.
Candidates must confirm their acceptance within 2 weeks of receiving the offer by paying the Registration Fee.
REGISTRATION & TUITION FEES:
LIVING EXPENSES IN MILAN (indicative only):
EXPENSES PER MONTH
ONE TIME FEES (indicative only):
|STAY PERMIT||155 EUROS|
|EUROPE STUDY TOURS||1,350 EUROS|
|HEALTH INSURANCE||98 EUROS|
PLEASE NOTE THAT ASSISTANCE FOR HOUSING (IN MUMBAI) AND LOANS WILL BE PROVIDED.
- 75% (minimum) score in all years of education – 10th, 12th and each year of graduation
- Graduation from a top-ranked institution
- Post-graduate qualification relevant to the MGLuxM program such as Retail Management, Fashion Management
- Outstanding achievements in social service, sports and extracurricular activities are also considered
- Academic achievements
- Relevant experience or domain expertise
- Interview performance
- Good presentation and communication skills