By Mr. Abhay Gupta, Founder-CEO, Luxury Connect Business School
Luxury is synonymous with exclusivity and premium quality. This is the reason why customers have very different expectations when it comes to an excellent shopping experience. With retail being the primary avenue for luxury purchases, luxury brands spend an obscene amount of time and money in creating the perfect retail stores. Moreover, vast amount is spent on training the industry professionals to ensure they are able to provide customers with a top-notch experience at the stores.
Consequently, the Industry desperately needs trained professionals who are well spoken, have a good understanding of the luxury industry and specialise in selling or marketing a product that comes with a hefty price tag. In-store customer interaction needs to be personalised with a unique approach. Customers expect the industry professionals to not only be good in customer service but also be exemplary product experts who have intricate product knowledge. Be it a luxury car or a watch brand, a fashion brand or even an accessories brand, knowing the product well, appreciation of the craftsmanship that goes in making the product and why it commands a hefty price tag are all part of the job that need to be executed well.
According to a recent national skills development corporation report, by 2022 the Luxury industry in India will require close to 5.6 million skilled personnel. Clearly, there is a demand for industry professionals. However, there is a lack in the supply of such trained professionals which is being perceived as a major hindrance to the growth of the industry.
The huge demand for trained professionals means a variety of job opportunities across the industry which are generally high paying simply because of the skill-sets required for the job. Already the luxury industry has thrown open a huge window of opportunity for the trained professionals. Over and above the salaries, luxury professionals get lucrative incentives based on the number of products sold by them. Since most products are easily worth lakhs of rupees, luxury professionals usually take home a high salary. They get opportunity to work as a luxury brand manager, a luxury goods product manager or other such awesome career-defining roles, based on your experience, skills, education and knowledge. Last but not least, working with the most premium brands in the world in itself is a matter of great pride, access to which is only available to a very select few. Additionally, there are various other lucrative benefits of working in the industry.
However, working in the luxury industry is just one step away. In India, there are some business schools, like Luxury Connect Business School (LCBS), SP Jain & Pearl Academy which provide Luxury Management courses as of date. Luxury Connect Business School is the First and only Luxury B-school which provides practical & valuable knowledge as part of postgraduate studies available to graduates across India. With content developed by industry experts and delivered by faculty members who are also award-winning luxury industry professionals, Luxury Connect Business School focuses on imparting knowledge beyond the structure of the classroom blended with personalized mentoring and what makes it truly unique is its industry connect. With its strong affiliations in the luxury industry, Luxury Connect Business School offers students opportunities to interact with industry brand leaders & professionals in an informal manner. Students get to meet, discuss, exchange notes, share ideas and learn from the real-time experience of these senior stalwarts.