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The Business of Luxury

The luxury market is soaring with 5-year outlooks showing momentous growth for these upper-tier business segments. In addition to the boom taking place, analysts have identified something fascinating about this new growth. Paradigm shifts are transforming the very nature of luxury and luxury consumer expectations. Understand what’s happening and learn how to tap into the surge.

COURSE DESCRIPTION

Do you want to gain a more comprehensive and nuanced understanding of the luxury industry? Do you aim to build, maintain or elevate your brand’s positioning within the luxury market? Are you seeking to create your own luxury brand? This course will give you the tools to achieve your luxurious goals.

After the years of austerity and isolation brought on by the coronavirus pandemic, customers are returning to luxury. They’re ready to indulge and treat themselves, but with the re-emergence of luxury, new consumer values are also arising. Learn about these paradigm shifts. Digitisation and ‘Instagrammable moments’ are among the factors challenging a number of the fundamental premises of luxury brands. Related to this, the rise of millennial consumers is resulting in changing spending habits across generations. Status has become less about ‘what I have’ and more about ‘who I am’. Travel, shopping and dining—in addition to being financial transactions—are increasingly emotional investments, and customers expect an experience where the memory becomes the product.

The global luxury market is set to achieve revenues of €332 billion in 2023 and, according to Boston Consulting Group and the French luxury goods association Comité Colbert, this is expected to climb to €494 billion by 2026. Almost two-thirds of that growth will take place in markets outside of Europe and the U.S. This course will empower you to take advantage of that growth.

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WHO IS THIS

COURSE FOR?

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Business Owners/Managers

who desire an enhanced understanding of strategy for the luxury industry. 

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Operational Employees

who are looking to improve their knowledge of the luxury industry.

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Entrepreneurs

who plan to develop their business in the luxury industry.

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WHAT YOU'LL LEARN

  • How to define a luxury business
  • How to analyse the luxury markets
  • What are the different types of luxury
  • How to cater to different luxury consumers
  • How to create a successful business strategy for the luxury market

COURSE OUTLINE

This course consists of 
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Learning hours (9.00-16.00)
0
Modules
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Module 1: What is luxury?

  • Defining luxury
  • What makes a product “premium” or “luxury”
  • The macro-economic, micro-economic and sociological environments of luxury
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Module 2: Understand your luxury customers

  • Understanding the behaviours of different luxury consumers
  • Creating a successful strategy to cater to these differing luxury consumer segments
  • Why some brands thrive while others struggle
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Module 3: Principles of luxury

  • How to build a luxury brand
  • The journey of a luxury brand: from brand concept to brand value
  • Understand the luxury business through the lens of a luxury company’s branding, co-branding, marketing, operations, etc.
  • Case study
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Trainer

Dr. Estelle Dinh possesses a very impressive biography for a 30-year-old, with a strong track record across luxury hospitality, wealth management, private banking and other related sectors.
Listed in Forbes Monaco’s 40 Under 40, she is CEO of Attixs Global Collection S.A. and a professor at both the International University of Monaco and Glion Higher Institution of Education in Switzerland. As an academic, she lectures on luxury branding and marketing, luxury services, etiquette, and customer service attitude for the luxury market. She also possesses particular expertise in the intersection of cultural diversity and business, including the cultural factors impacting today’s Western and Asian luxury markets.

ADMISSION CRITERIA

Our course is designed for ambitious professionals. There are no admission requirements to enroll in this course. You can come from any sector and bring a host of background experiences.

ADMISSION PROCESS

To enroll, choose the desired intake and fill in your personal details. You will receive an email with the payment link. You are accepted in the course only upon receipt of payment.

DEADLINE

We must receive payment at least five days before the start of the course. Late enrollments can be accepted on a case-by-case basis.

COURSE DATE: 6 AUGUST 2023

0
per course

Taught in English

"Some people think luxury is the opposite of poverty. It is not. It is the opposite of vulgarity."

- Coco Chanel

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BANGKOK CAMPUS

Avani+ Riverside Bangkok Hotel
9th Floor, 257 Charoennakorn Road, Samrae, Thonburi
Bangkok 10600, Thailand

Tel: +66 2 365 6355

PATTAYA CAMPUS

Avani Pattaya Resort
218/2-4, Moo 10, Muang Pattaya, Bang Lamung,
Chon Buri 20260, Thailand

CONTACT US:

contactus@aihm.education

© 2024 Asian Institute of Hospitality Management (AIHM) in academic association with Les Roches