International Luxury Retail Management ProgramTopics

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  • Understanding the Fundamentals of Luxury Goods
    • Environmental scan of today’s evolving and emerging luxury world
    • Provide skills to evolve in the innovation-driven and polyculture environment of global luxury companies and holdings
    • Provide theoretical and applied understanding of the broad topics current topics and theories in the luxury industry such as:
      • Communication
      • Organizational culture
      • Ethics (including corporate social responsibility)
  • The state of the luxury market and economy
    • Outlook of the global luxury market main trends
    • Get understanding and perspective of other markets and the region, including regional evolution and trends
    • Acquire knowledge of other markets, what luxury brands have done in the region and how are they operating and positioned
  • Strategic Consumer Insights in the Luxury Retail Markets
    • Segmentation in the Global luxury market
    • How the consumer is mapped and differences between countries, and sub-regions within countries
    • Examples of different strategies to reach different consumers
  • Leveraging Branding for Long-Term Growth
    • How the value of a brand is defined and built, where does it come from and how it impacts the business
    • Fundamentals of creating a luxury brand identity and its purpose
    • A particular focus will be given to “Independent Luxury Brands”
  • Managing Brands, Identity & Experience in the Luxury Retail Market
    • Strategies to position brand identity in luxury retail
    • Understand the brand identity concept and how it is used in retail, see examples of things that could improve or damage a luxury brand identity, so they can connect those to their activities
  • Effective Communication Strategies in the Luxury Retail Markets
    • How communication (PR, print, etc.) is managed in the region, different strategies to reach current customers and potentials according to brand identity, consumer segment or type, purchase power, etc.
  • e-Commerce and Omni Channel in the Luxury Retail Market
    • Why have luxury brands been slow at embracing the internet revolution and particularly e-commerce and omni retail
    • The state of e-commerce in the luxury industry in 2015 - e-commerce business models
    • Defining omni retail: from off-line to On-line and from E -commerce to M commerce and S commerce
    • Opportunities and challenges of omni retail for luxury brands
    • Best practices
  • Strategic Distribution for the Luxury Retail Market
    • Understanding international distribution disruptions:
      • Travel retail, grey market, sales by nationality, sharing economy.
    • From wholesale to retail
    • Retail business models
    • From geographic licensing to product licensing
    • About collaborations and distribution partnerships
  • Social Media Branding & Digital Marketing
    • From traditional print media to digital media advertising
    • Most successful social media platforms for luxury /fashion brands
    • Understand why and how luxury and fashion brands are becoming their own media: how to create relevant digital content?
    • Role of social media influencers, from bloggers to vloggers
    • How to leverage on brand social community, off-line and on-line
    • How to create an omni digital strategy?
  • Pricing Strategies for Luxury Retailing
    • Understanding the dream margin concept, is price an issue? Value for money?
    • Understanding international pricing issues, currency fluctuations, impact of internet on prices transparency and consumer empowerment
    • Reviewing the headaches of international luxury pricing adjustments for headquarters and local subsidiaries
    • From the traditional cost + luxury pricing strategy to the Apple prices strategy
  • In-Store Customer Experience
    • Evolving facets of luxury consumer experience
    • Impact of digital revolution and technology on luxury consumers’ expectations in terms of experience
    • The three facets of a luxury in-store experience: the right brain, the left brain and the convenience
    • Best and worse practices
  • Retail Service and In-Store Ceremony
    • How has the meaning of luxury service evolved over the years
    • Cultural foundations of luxury service and mapping by cultural origin
    • Retail service gaps in the luxury service industry
    • VIC’s & VIP’s, CRM & loyalty programs
    • The art of luxury service
    • Selling techniques & role plays
  • Assess Potential and Ignite Talent in the Retail Industry
    • Skills required in retail , from the sales floor to the management of retail operations
    • Leadership and entrepreneurial skills are key at all levels
    • How to assess and develop leadership skills
    • Managing, motivating, retaining staff in luxury retailing
    • Best and worse practices
  • Luxury Retail Real Estate – Fundamentals
    • Understand the concept of real estate development
    • Know the factors influencing Luxury Real Estate development
    • Understand the process of development: planning, drawing, approvals, construction, zoning, compliances and marketing
    • Tenancy Mix, Leasing, Fit Outs and Contracting Process
    • Discussion on the luxury retail development of Bal Harbour Shops vs Design District vs Brickell City Centre in Miami
  • Luxury Retail Real Estate Environment
    • The luxury real estate market with regards to the world’s retail development
    • Realize the main drivers of growth
    • Key players and the challenges being faced
    • Forecasting the future in luxury retail real estate
  • Business KPIs & Strategic Decisions in Luxury Retailing
    • Introduction to Business Metrics and KPI’s
    • Showcase examples of KPI’s in use in Retail
    • What is big data and its impact in retail
    • The progression of business metrics to business intelligence
    • How to use business intelligence as a forecasting tool to make strategic decisions
    • Guided collaborative exercise on data evaluation
  • Financial Planning and Controlling (P&L)
    • How to use finance as a control mechanism
    • We shall discuss the use of financial analysis from a CEO (macro view) to the Finance Manager (micro view)
    • How to read and interpret financial data
    • Understand Cash Flow, Balance Sheet and Profit & Loss
  • Sales Campaigns and KPI Driven Actions
    • How to dissect and interpret sales data
    • How to design sales campaigns, whose impact that can be measured
    • This class will be a lead in to the Business KPI’s class and will involve a collaborative exercise to understand the topic better
  • The Design and Marketing of Luxury Products
    • How to look at the world around us with the lens of Design
    • The Elements and Principles of Design
    • Design in the world of luxury – design approaches in automobiles, jewelry, watches, couture etc.
    • Design and Innovation in the Luxury world
    • We shall do a collaborative exercise in Design and also touch upon Design Thinking
  • Leadership & Entrepreneurship
    • Introduce Personality Traits and Leadership styles
    • Discuss the ecosystem of entrepreneurship
    • Participants will be introduced to the basics like Ideation, Company Formation, Funding, Scalability and the complexities of decision making, forecasting, conflict management and team building
    • Understand the skill sets required to be  successful entrepreneur
    • The top 10 challenges of Entrepreneurship
    • Examples of recent success stores in premium retail as well as luxury retail
    • Develop lateral thinking, complex vision and flexible leadership capacities
    • Learn to develop luxury strategies around changes and kinetics
    • Understand the use of professional tolls such as marketing approaches and accurate media planning

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Executive and Professional Education
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Email: epe@fiu.edu
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