CityAM reports that:
Luxury brands are synonymous with great marketing, so I guess this was only a matter of time. The Italian company Bulgari is now the first luxury company to affiliate itself with an MBA program - the Bocconi business school in Milan to be exact. Students will be able to choose the luxury business specialty and will spend 3 months taking classes at the Bulgari HQ in Rome, including a 2 month project at one of the company's global offices.
The CityAM article goes on to state that:
"It makes perfect sense for luxury goods businesses to get involved with business schools. While many Western businesses have suffered since the downturn, luxury businesses, with their growing market in Asia, have proved resilient. The brands too know that they can no longer rely on domestic markets, but need serious business nous if they want to expand into these newly wealthy regions. This phenomenon cannot have escaped the attention of potential MBA’s either; while once they might have looked for a future in finance or consultancy, these days sunglasses or handbags cannot be considered a frivolous career choice.
The CityAM article goes on to state that:
"It makes perfect sense for luxury goods businesses to get involved with business schools. While many Western businesses have suffered since the downturn, luxury businesses, with their growing market in Asia, have proved resilient. The brands too know that they can no longer rely on domestic markets, but need serious business nous if they want to expand into these newly wealthy regions. This phenomenon cannot have escaped the attention of potential MBA’s either; while once they might have looked for a future in finance or consultancy, these days sunglasses or handbags cannot be considered a frivolous career choice.
Professor Valter Lazzari, director of the full-time MBA at Bocconi, says that with Italy’s reputation in the luxury goods sector it is natural that a school might want to focus on it, and like all industries, the luxury sector has peculiarities. “If you price a candy bar, the higher you price it the worse it is for the consumer, but in the luxury industry the opposite, it gives more value for the consumer.” He says that the Bulgari experience could also interest those who want to work in any area of retail, not just the highest end."
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