Master of Fashion & Luxury Management – Major Luxury

LUISS Master of Luxury Management, one of the LUISS Master of Fashion & Luxury Management tracks, is a one year first level Master Degree Programme (60 ECTS). The curriculum is formed by 1500 hours (4 days per week, from 9am to 6pm), composed by core courses, specialised courses (one for each segment of the luxury industry), and laboratories. Furthermore, LUISS Master of Luxury Management offers project activities and guest lectures organized by the LUISS Creative Business Center.

The teaching methods are designed to support students’ professional growth, balancing managerial and creative subjects. To achieve these aims, the faculty is composed of professionals who play a crucial role in the management of luxury industries both in Italy and abroad.

1° Term

CORE COURSES

Branding: The course aims at offering a clear definition of the pivotal concepts of strategic marketing, connected with the increasingly complex dynamics of the luxury market. The various brand definition areas (mission, vision, values, positioning) will be considered as pivotal points of identification of the business and communication strategy. The participants will therefore have a complete and exhaustive view of every aspect connected to branding thus recognizing the importance of the role of communication in building the perception and reputation of the brand.

Strategy: The course aims at presenting an overview of the strategic tools necessary for the correct planning of the activities and procedures inside the fashion and luxury market. Through the analysis of the strategic positioning, of the offer management and of the distribution strategy, students will be given the necessary instruments to analyse the competition, the brand positioning and the final consumer, coherently with the different business models which the companies in this field can adopt.

Business Models: The course aims at offering knowledge on cost and revenue drivers that define a business model in the fashion and luxury industry. The various components of the value chain will be analysed, and the main configurations of business models of the industry will be presented.

Accounting and Performance Measurement: The course aims at giving students conceptual and methodological skills of accounting, as an instrument useful for the evaluation of both the economic and financial equilibrium of business. The lessons introduce, firstly, some basic concepts of business administration; then, they analyse contents and structures of balance sheets, with particular focus on IAS/IFRS.

Financial Management:

• Financial decision system
• Capital Budgeting
• Investment valuation methods
• Economic capital assessment
• Financing decisions
• Capital structure and firm value
• Choosing the optimal financial structure
• Risk capital and dividend policy
• Working capital
• Financial risk management

Supporting Functions & Supporting Systems: The course explores the role and the contents of the information systems that support the various functions of a fashion and luxury company. The aim of the course is to provide students with an integrated vision of the company’s data and the systems used to collect, filter, process, create and distribute data. Technological aspects are discussed at an informative level, a major focus is given to the integration of process and consistency of data and information.

Talent Management & Organization: The course explores the most significant factors and dynamics that influence the management of resources in complex organisations operating in the fashion and luxury industry. The central objective of the course is to comprehend the strategies, policies and management techniques used by the human resource management for the organisation development.

2° Term and 3° Term

Luxury Channels and Distribution Management:The course will provide students with the fundamental knowledge needed to make decisions regarding selling channels and the physical distribution of luxury products and services. The course addresses channel structures and the emphasis is placed on understanding how to design, implement, manage and evaluate an effective channel distribution strategy.

Consumers Behaviour in Luxury Industries: The course will provide an overview of theory and research in consumer behaviour. The focus will be on the following topics: consumers attitude towards luxury, motivation to purchase luxury products and services, categorization of different luxury consumers (lovers versus followers)

Customer Relationship Management and Promotions: The program introduces the different sides of customer relationship management (CRM) to show how to identify who the customers are and how to develop sustainable relationships with them. The course will also provide information about the key components of CRM and how it is integrated within an organization. The course aims to provide students with the promotion and communication strategies for development and positioning the company through social media.

Luxury Market and Key Players: The course will provide the opportunity to critically review the microeconomic and macroeconomic theories, concepts and other models in order to understand the dynamics of the luxury industries, markets and players.

Store Concept and Design: The course will provide students with the basic knowledge needed to join the retail environment and the brand philosophy. Students will understand the creative aspects to develop a personal interior design sensibility that will be essential to create customization in rooms or specific spaces. Students will be required to develop store design solution to combine materials, colours, forms and shapes able to follow brand’s philosophy.

Operations & Supply Chain Management: The course shows how operations management, supply chain management and processes work in an increasingly globalises marketplace. In this course, students will focus on process excellence from both intra-organizational and inter-organizational points of view.

Marketing in Luxury Industries: The course will develop a framework for understanding the essential ingredients of effective marketing in luxury brands and services. The course will help students to comprehend the demands and the challenges faced by those companies operating in a multi-billion-dollar market.

Focus Areas: Luxury Specialization Areas: Jewellery and Watches, Car & Yacht, Design and Art, Beauty & Fragrancies, Hotel & SPA, Wines & Food, Fashion and Accessories

PROJECT WORK: At the end of lectures, students will test their preparation by carrying out an exciting group project. Under the guidance of a tutor they will tackle a real case, chosen by our partners, and present their conclusions to a committee of experts.