Getting started in the luxury market demands a specialized skill set and an understanding of the behavioral nuances among a very small but valuable consumer segment. Luxury business programs can range from foundational intensives to highly focused programs designed to prepare you for particular professions within the industry. We’ve outlined some key factors to guide you in selecting the best luxury business program for your needs.
Define Your Goals
First and foremost, it's essential to understand what you're looking to achieve. Are you seeking a comprehensive understanding or a niche focus within luxury business? Are you aiming to upskill for your current role or start or transition into a career in luxury business?
With that in mind, are you looking for a short-term intensive course or a longer-term commitment? Short courses are great to get a taste of the industry or to quickly upskill, but longer courses—especially those that are accredited—make a greater impact on your resume.
If you’re new to the luxury industry and want to build your foundational skills, consider a short course, like Principles of Luxury, a two-week online intensive offered by Sotheby’s Institute of art.
Are you looking to change your career? You’ll need to develop a portfolio and connections within the industry—in this case, a master’s program might be more fitting. Consider pursuing a Master’s in Luxury Business, like this one offered by Sotheby’s Institute in London.
Research the Curriculum
A critical aspect of your decision should be the curriculum. Luxury business goes beyond eye-catching advertisements. It's about understanding the luxury consumer, comprehending the psychology behind purchasing decisions, mastering brand management, and appreciating the economics of luxury.
A well-rounded program will integrate both theory and practical applications, offering insights into the latest digital marketing trends and modules on global luxury markets and diverse cultures.
Faculty Expertise
The expertise of the faculty can significantly influence your learning. Seek programs where the educators come with a robust background in luxury brand management. The presence of guest lecturers from esteemed luxury brands or agencies can provide fresh, industry-specific insights. Ideally, a blend of academic and industry experts will offer a comprehensive perspective.
Alumni Network
An often-overlooked factor is the strength of the alumni network. A vibrant alumni community can open doors to mentorship opportunities, job placements, and pivotal connections within the luxury industry. Investigate where past students have found placements—ideally, they'll be with reputable luxury brands. Make sure to check if the program hosts networking events or has regular alumni interactions. The power of networking cannot be emphasized enough when it comes to career success.
Practical Exposure
Experience is key when it comes to getting a start in a competitive industry like luxury business. While theoretical knowledge is foundational, applying this knowledge in real-world contexts is invaluable. Check if your program of interest facilitates internships, collaborations with luxury brands, or site visits to luxury events or retail spaces. A curriculum that embeds real-world case studies can provide a deeper understanding of luxury market dynamics.
Reviews and Reputation
Reviews and reputation are important to consider when deciding on a program. Look through testimonials, feedback, and reviews from past students to gauge their experiences. Understand where the program stands in comparison to other luxury business programs and what past students articulate about their learning experience, faculty interactions, and subsequent job placements.
Online vs. Offline
In today's digital age, there’s flexibility in the delivery of the course you choose. Some might prefer the dynamic interaction of a traditional classroom, while others might lean towards the versatility of an online setting. Your choice should align with your learning style and daily commitments.
Ready to get started in the luxury industry?
Develop your foundational skills with Principles of Luxury, an online course at Sotheby’s Institute of Art. Principles of Luxury is a two-week online intensive that provides participants with an understanding of key luxury branding and marketing frameworks. Taught by instructors with experience working for the world’s premier luxury brands, this course will help you develop the crucial skills and knowledge for becoming a luxury marketer.
Take the next step in your luxury career with a Master’s in Luxury Business
The MA Luxury Business at Sotheby’s Institute of Art-London is a program designed for those interested in establishing their expertise in the sophisticated and dynamic luxury industry through unparalleled access to the world of art and luxury.
This program emphasizes experiential learning with site visits and international study trips, which have previously included locations like Milan and Paris.
Advance your career with a certificate or degree in Luxury Business. Learn more about our online course, Principles of Luxury, and our Master’s Program in London.