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Description

Hone your retailing knowledge and expertise with this advanced-level retail curriculum. You’ll focus on retail strategy and execution for luxury goods, with the following program goals:

  • To enable key people through increased knowledge in retail fundamentals
  • Develop a 360° approach and professionalize retail luxury goods managers through focused and practical learning modules, where best practices of retail management are established
  • Provide global overview of key competencies for the organization's leadership performing functions as retail managers or country managers with diverse career backgrounds

Key Benefits

  • Through lectures and training, the program will provide insight to manage distribution, international expansion of luxury brands and offer a premium service to their customers
  • Through a special focus on international luxury, participants will get a unique insight on the rapid evolution of the luxury market, as it is becoming an emerging market for luxury goods
  • Through case studies and numerous examples, attendees will learn different distribution and retail strategies, with a strong focus on international luxury, and will acquire insight on how to define an efficient digital and e-business strategy for a luxury brand
  • Through attendance in this program, participants will have a unique opportunity to explore career opportunities in the international luxury retail industry

Program Requirements

  • Bachelor's Degree
  • Have a minimum of 5 years of relevant work experience, with at least 2 to 5 years of experience in a management position, including, but not limited to, the following industries: fashion, retail, cosmetics, travel, hospitality, etc.
  • Preferably bilingual, with English fluency (Program is taught in English)
  • Current Curriculum Vitae
  • Professional Letter of Recommendation (Past or Present Employer)
  • International Exposure (Through work and/or personal travel, etc.)

TOPICS

Understanding the Fundamentals of Luxury Goods

  • Environmental scan of today’s evolving and emerging luxury world
  • Provide skills to evolve in the innovation-driven and polyculture environment of global luxury companies and holdings
  • Provide theoretical and applied understanding of the broad topics current topics and theories in the luxury industry such as: Communication, Organizational culture, Ethics (including corporate social responsibility)

The state of the luxury market and economy

  • Outlook of the global luxury market main trends
  • Get understanding and perspective of other markets and the region, including regional evolution and trends
  • Acquire knowledge of other markets, what luxury brands have done in the region and how are they operating and positioned

Strategic Consumer Insights in the Luxury Retail Markets

  • Segmentation in the Global luxury market
  • How the consumer is mapped and differences between countries, and sub-regions within countries
  • Examples of different strategies to reach different consumers

Leveraging Branding for Long-Term Growth

  • How the value of a brand is defined and built, where does it come from and how it impacts the business
  • Fundamentals of creating a luxury brand identity and its purpose
  • A particular focus will be given to “Independent Luxury Brands”

Managing Brands, Identity & Experience in the Luxury Retail Market

  • Strategies to position brand identity in luxury retail
  • Understand the brand identity concept and how it is used in retail, see examples of things that could improve or damage a luxury brand identity, so they can connect those to their activities

Effective Communication Strategies in the Luxury Retail Markets

  • How communication (PR, print, etc.) is managed in the region, different strategies to reach current customers and potentials according to brand identity, consumer segment or type, purchase power, etc.

e-Commerce and Omni Channel in the Luxury Retail Market

  • Why have luxury brands been slow at embracing the internet revolution and particularly e-commerce and omni retail
  • The state of e-commerce in the luxury industry in 2015 - e-commerce business models
  • Defining omni retail: from off-line to On-line and from E -commerce to M commerce and S commerce
  • Opportunities and challenges of omni retail for luxury brands
  • Best practices
  • Strategic Distribution for the Luxury Retail Market

  • Understanding international distribution disruptions:

  • Travel retail, grey market, sales by nationality, sharing economy.

  • From wholesale to retail

  • Retail business models

  • From geographic licensing to product licensing

  • About collaborations and distribution partnerships

Social Media Branding & Digital Marketing

  • From traditional print media to digital media advertising
  • Most successful social media platforms for luxury /fashion brands
  • Understand why and how luxury and fashion brands are becoming their own media: how to create relevant digital content?
  • Role of social media influencers, from bloggers to vloggers
  • How to leverage on brand social community, off-line and on-line
  • How to create an omni digital strategy?

Pricing Strategies for Luxury Retailing

  • Understanding the dream margin concept, is price an issue? Value for money?
  • Understanding international pricing issues, currency fluctuations, impact of internet on prices transparency and consumer empowerment
  • Reviewing the headaches of international luxury pricing adjustments for headquarters and local subsidiaries
  • From the traditional cost + luxury pricing strategy to the Apple prices strategy

In-Store Customer Experience

  • Evolving facets of luxury consumer experience
  • Impact of digital revolution and technology on luxury consumers’ expectations in terms of experience
  • The three facets of a luxury in-store experience: the right brain, the left brain and the convenience
  • Best and worse practices

Retail Service and In-Store Ceremony

  • How has the meaning of luxury service evolved over the years
  • Cultural foundations of luxury service and mapping by cultural origin
  • Retail service gaps in the luxury service industry
  • VIC’s & VIP’s, CRM & loyalty programs
  • The art of luxury service Selling techniques & role plays

Assess Potential and Ignite Talent in the Retail Industry

  • Skills required in retail , from the sales floor to the management of retail operations
  • Leadership and entrepreneurial skills are key at all levels
  • How to assess and develop leadership skills
  • Managing, motivating, retaining staff in luxury retailing
  • Best and worse practices

Luxury Retail Real Estate – Fundamentals

  • Understand the concept of real estate development
  • Know the factors influencing Luxury Real Estate development
  • Understand the process of development: planning, drawing, approvals, construction, zoning, compliances and marketing
  • Tenancy Mix, Leasing, Fit Outs and Contracting Process
  • Discussion on the luxury retail development of Bal Harbour Shops vs Design District vs Brickell City Centre in Miami

Luxury Retail Real Estate Environment

  • The luxury real estate market with regards to the world’s retail development
  • Realize the main drivers of growth
  • Key players and the challenges being faced
  • Forecasting the future in luxury retail real estate

Business KPIs & Strategic Decisions in Luxury Retailing

  • Introduction to Business Metrics and KPI’s
  • Showcase examples of KPI’s in use in Retail
  • What is big data and its impact in retail
  • The progression of business metrics to business intelligence
  • How to use business intelligence as a forecasting tool to make strategic decisions
  • Guided collaborative exercise on data evaluation

Financial Planning and Controlling (P&L)

  • How to use finance as a control mechanism
  • We shall discuss the use of financial analysis from a CEO (macro view) to the Finance Manager (micro view)
  • How to read and interpret financial data
  • Understand Cash Flow, Balance Sheet and Profit & Loss

Sales Campaigns and KPI Driven Actions

  • How to dissect and interpret sales data
  • How to design sales campaigns, whose impact that can be measured
  • This class will be a lead in to the Business KPI’s class and will involve a collaborative exercise to understand the topic better
  • The Design and Marketing of Luxury Products

  • How to look at the world around us with the lens of Design

  • The Elements and Principles of Design

  • Design in the world of luxury – design approaches in automobiles, jewelry, watches, couture etc.

  • Design and Innovation in the Luxury world

  • We shall do a collaborative exercise in Design and also touch upon Design Thinking

Leadership & Entrepreneurship

  • Introduce Personality Traits and Leadership styles
  • Discuss the ecosystem of entrepreneurship
  • Participants will be introduced to the basics like Ideation, Company Formation, Funding, Scalability and the complexities of decision making, forecasting, conflict management and team building
  • Understand the skill sets required to be successful entrepreneur
  • The top 10 challenges of Entrepreneurship
  • Examples of recent success stores in premium retail as well as luxury retail
  • Develop lateral thinking, complex vision and flexible leadership capacities
  • Learn to develop luxury strategies around changes and kinetics
  • Understand the use of professional tolls such as marketing approaches and accurate media planning

Who should attend

This course is designed for seasoned retail leaders with experience or strong interest in the luxury goods niche:

Professionals with experience in the luxury retail industry who are:

  • Successful store managers with at least 2-5 years of management experience
  • Executives and Managers working in the Luxury industry
  • District Managers
  • Brand Managers
  • Merchandising Directors
  • Marketing Directors
  • Marketing Managers
  • Retail Managers
  • Sales Directors
  • High-potential retail professionals with promising skills for leadership advancement
  • Business owners and Managing Directors of premium or niche brands who want to elevate their brand level
  • Middle to Senior Level Managers in private and public corporations with an interest in the luxury industry

Experts

Denis Morisset is the Director of Luxury Executive Programs for ESSEC Asia Pacific, and teaches luxury marketing in Singapore and Paris. He has 25 years of experience in the luxury fashion industry and is the former COO of Ralph Lauren Europe and CEO of Pierre Balmain and Giorgio Armani France. M...
Dr. Jonas Hoffmann is Associate Professor at SKEMA Business School and expert in the luxury industry in emerging countries, giving executive training and consulting in Europe, US, China and Brazil. He advises companies on developing innovative market and branding strategies and is frequently invi...
After twenty years at Salvatore Ferragamo as Director for Latin America and the Caribbean, Diego Stecchi capitalized on his in-depth knowledge of the American markets to establish Luxury Retail Partners. Luxury Retail Partners (LRP) focuses on aiding brands looking to expand in the Americas, hel...
Ivan Coste-Maniére is a specialist in luxury brand management, design innovation, entrepreneurship and international business management. He has created several luxury goods, cosmetics, advertising and event management companies in countries that include Belgium, Tanzania, Ivory Coast, Switzerlan...
Sudeep Chhabra is a luxury management consultant with over 17 years of experience across hospitality, retail and luxury. Based in New Delhi, India, he has broad expertise in business strategy, design, sales and marketing and organizational transformation. Chhabra is the founder of Unique Eye Lux...
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