Scuola di Design e Moda - Master in Design e Moda - Domus Academy

Economic, political and cultural changes are influencing the future of the luxury industry. Over the last few years, the luxury business has been undergoing a radical change. Its customer base is shifting dramatically, as wealth continues to spread to new parts of the globe. The sheer proliferation of luxury goods has made them accessible, at some level, to many millions more. Luxury distribution is changing. Online luxury, once an oxymoron, is now omnipresent.

What is luxury? Is there an old luxury and a new one? How is the former contaminating the latter and vice versa? How does the concept of luxury resonate with concepts such as “masstige” or “massclusivity”? How does it matter? What are the business implications?

The very nature of luxury goods and services is also evolving. Rather than flash and luxury consumers are now seeking discretion, special access, surprise, humor and even secrecy. Members-only services for dining, travel, entertainment and retail are proliferating. New luxury consumers want meaning, emotion and connection. They are more about 'being' versus 'having'.

Delivering the goods to ever more discriminating and demanding luxury consumers is requiring companies to rethink their business models. A younger generation of luxury consumers has grown tired of the usual offerings. At the same time, they have more money to spend on luxury purchases than their parents did and are looking for new types of goods and services.

At the same time, luxury brands have to face different luxury consumers around the world, with different maturities.

Also the tremendous growth of the luxury industry has attracted many investors. Private equity firms have been snapping up luxury brands in the last 5 years, from fashion to design, furniture, wines and hospitality. This infusion of cash should infuse the luxury sector with energy. It is helping more niche brands to grow and survive.  The growing availability of funding, and the ability of small brands to reach faraway audiences via the Internet, but also the tastes of a new kind of consumer are creating new business opportunities.


The Course

Some luxury brands are part of major international groups, some, especially in Italy are still family-owned.  But whether large or small, with the international environment becoming increasingly competitive, luxury brands require a new breed of managers.
Those who plan to work in luxury have to be able to match the management and business skills with the culture and the spirit of luxury and have to carefully blend innovation and creative skills with a strong history and culture.

The goal of the Master in Marketing of Luxury Goods is to help participants to develop a global vision of the business, some leadership and managerial abilities combined with the capacity to dialog with innovation & creativity, in order to successfully manage a luxury brand.