After a brief exploration of the history of the luxury market, the course discusses the geographic expansion of the market over the past few decades while simultaneously undertaking an important investigation of the pressing issues in the sector such as changing consumer behavior, sustainability, ethical commerce, and what is perhaps the most urgent topic, the rush for digitalization.
The cultural capital contained in luxury goods by way of ingenious branding has given rise to much-hyped collaborations between some of the world’s most renowned artists and major luxury companies, from Tiffany to Louis Vuitton and Hermes, some of which will be explored in case studies. Diving further into what the future will bring for these markets, the course will dedicate a significant session to what a post-digital luxury market might look like compared to what exists today. Complementing these academic sessions will be site visits to key market locations and lectures from pioneering guest speakers, active throughout the luxury industry.
Compare key players in the luxury sector and their unique propositions to consumers.
Discuss what makes luxury products desirable and how they are branded to consumers.
Analyze the life cycle of a luxury good, from product design to primary and secondary market sales.
Suggest what the future of the luxury market may look like based on current trends and innovations.
Articulate the crucial roles of marketing and technology in the luxury sector.
Day 1: Begin your exploration of luxury markets by discussing the history of the field alongside key players in the market today. Explore the concept of cultural capital and the consumption market.
Day 2: Analyze notable marketing campaigns from the luxury sector and discuss the key role of branding. Visit a flagship luxury brand store to learn about the experiential curation of the store experience and its role in developing a brand’s image.
Day 3: Learn about the recent geographic expansion of the luxury market to meet global demand and meet with a luxury scholar to discuss how this affects value and production.
Day 4: Explore new digital initiatives being implemented in the luxury sphere and the increasing importance of virtual spaces for branding and marketing. Hear from Dr. Tekila Harley Nobile, an expert in luxury business, on the digital transformation of marketing and communication strategies in the industry.
Day 5: Develop your new skills by researching and presenting a key player in the contemporary luxury landscape. Visit Sotheby’s auction house to preview an upcoming luxury sale and examine lots that will be on offer.
Course participants take away in-depth and valuable insight into the current and future art world. Those who successfully complete their course will receive a certificate of completion from Sotheby’s Institute of Art.
Sotheby’s Institute of Art course participants come from all over the world, from a wide variety of backgrounds. As they study, travel, and explore the art world alongside each other throughout the program, fierce and long-lasting collaborations are frequently born. Individuals who complete these courses join our network of over 8,000 past participants around the globe who hold top positions at renowned art organizations.
We highly encourage participants with at least 3 years of post-graduate work experience for a smooth and successful course experience.
English Language Requirement
Course participants should be proficient in written and spoken English and be able to participate in group discussions and presentations in English. It is recommended that participants have the equivalent level of IELTS score of 6.0 /TOEFL score of 78 IBT, however evidence of test scores is not required to register.
Courses are open to participants 18 years of age or older, however, we prefer that students have a bachelor’s degree or equivalent experience to be able to properly engage in the course.
For more information, please see our Terms and Conditions.