Global Management

Programme on Luxury

ExEcutivE Education
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EDITORIAL

Till the 1980s, luxury brands focused on European and American markets. By late 1980s, Japan’s thriving economy began to
attract luxury brands, followed by growing Asian economies like Hong Kong, Taiwan, Singapore, and South Korea. Post mid -
2000s, the BRIC countries became the attractive markets.

Today, out of the US $80 billion global luxury market, Asia (37%) holds the largest share followed by Europe (35%) and USA
(24%).

International luxury companies such as LVMH, Chanel, Hermes, and Gucci are targeting the Asian markets. Further, the global
recession and growing saturation of mature markets have heightened the interest of these luxury brands in the emerging
markets, particularly, India. According to a KSA Technopak study, the Indian rich segment constitutes about 1.6 million
households with annual income of over $100,000, expected to grow by 14 percent annually. The dynamics of the Indian luxury
market are changing. Since India has a strong tradition in hotels, art, luxury apparel, and jewellery, Indian high end products
like Pashmina, Kanjivaram, and Jamawars will share the chunk of the Indian luxury pie with international luxury brands.

To be successful in new markets, there is an increasing need for skilled professionals to handle operations and strategies at the
higher level. Senior executives require a specific kind of business expertise. This is because they are expected to manage in a
highly competitive international scenario combined with a strong history and culture. Moreover, in the context of global
recession, the luxury companies need to reinforce their value propositions and exclusivity to the core loyal customers and the
aspirational customers. They need to innovate and elevate the store experience and service levels to a sheer delight.

For the last fifteen years, ESSEC Business School, located in Paris, has been developing and nurturing partnerships in the Luxury
sector with leading luxury brands and institutions. It hosts the prestigious LVMH Chair since 1991 and continues to conduct the
world’s only Luxury Brand Management Program. The institute’s Luxury Brand Management Program has become a worldwide
reference in graduate and executive education and is till today, unequalled. The Indian Institute of Management, Ahmedabad
(IIMA), the premier management school in the Asia Pacific region, has been imparting general management education, since
1961, for the last forty-nine years.

Both these world class institutions, ESSEC and IIMA, have partnered to offer the global executive program on luxury
management. This ten-day program located in Paris and Ahmedabad is especially designed for senior executives, line managers,
and experts in the luxury and fashion industry operating in Europe and the Indian sub-continent. A unique program of this
nature addresses not only the unprecedented complexity in doing business in an emerging economy, but also addresses the need
to develop talent in this sector. Developing a global vision of the business, leadership, and managerial abilities are just a few of
the objectives of this program. Focusing on diversity and individual learning situations, participants will work with and learn
from each other as they build a vision of tomorrow in this sector. With an impressive combined alumni network and distinguished
management training programs, this curriculum will prepare executives to be tomorrow’s industry leaders while also facilitating
excellent placements in the industry.

Ashok Som Professor Piyush Kumar Sinha,

Associate Dean, Professor of Marketing &
Global MBA Program Chairperson, Centre for Retailing,
ESSEC Business School IIM Ahmedabad

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GENERAL
OVERVIEW
Historically, the world of luxury has been associated with
European countries such as France and Italy. Most of today’s top
luxury brands such as Louis Vuitton, Hermes, Chanel, and
Christian Dior, are deeply rooted in French history.
Historically, India too has had a tryst with luxury- a tradition of
having connoisseurs for luxury products. The erstwhile Indian
royalty were patrons of the European luxury houses mainly
London, Paris, and Milan. Some fascinating examples of their
extravagances are: Scindia's silver-plated toy train that served
as a mobile bar at the dining table, Kapurthala's copy of the
Elysées Palace, Patiala's extravagant jewellery from Cartier and
Boucheron, the fleets of custom-built Rolls Royce cars,
chandeliers from Venice, engraved weapons from Holland &
Holland, clothes from legendary fashion houses in Paris, and
OBJECTIVE
OF THE PROGRAM
This program will provide an in-depth training on the luxury
market and the exciting opportunities for India in this industry.
Studying the business models and best practices of the luxury
market, participants will strengthen their understanding of
management competencies in the Luxury Industry. Drawing on
the expertise of both institutions of higher education, students
will expand and share horizons of knowledge in the business
context of the Indian and French/European luxury markets. In
understanding the nuances of this unique sector and the
intangibles that make industry unique, participants will gain a
competitive advantage in these two challenging markets that will
allow them transform the ‘emerging market’ of India into an
industry leader in luxury goods.

ENHANCING
porcelain from Dresden. Cartier, Rolex, Royal Worcester, Bvlgari,
and Louis Vuitton were household names. Modern India

CAPABILITIES
witnessed a growth of the luxury market in 1980s which gained
momentum in 1990s. Liberalization and the IT revolution created
a new breed of Indian millionaires that had both, the aspiration
and means to spend. Further drivers of growth were increasing
international exposure through travel, internet, and media, and In addition to understanding the complexities of the
greater availability of lifestyle products and services. The Indian Indian/European business models, this program will prepare
luxury goods market is estimated at 0.4 percent of the global students in business model competencies essential to lead the
luxury goods sales, with a growth rate of 25 percent per year. future luxury markets. Building on the various areas of
experience and expertise of the participants and faculty, the
Given the strong association between ‘France’ and ‘luxury’, program optimizes benchmarking studies and best practice
India, as the “it” place to be for luxury, will benefit from a sharing among the participants in the program. This program
relationship with the European and French luxury industry. Given promotes ‘out-of-box’ thinking, and reflection. The program will
the fact that India has recently opened up 51 percent foreign broaden one’s perspectives and promote creativity, both key
direct investment (FDI) in a single brand, the 12-billion Euro factors of innovation, one of the driving forces in the Luxury
French luxury industry is eyeing the domestic luxury segment to Industry.
make a presence through retailing directly. This presents huge
potential for European brands in India, and if following recent
trends in luxury goods companies who are moving towards a
multinational strategy, an enormous opportunity for luxury
executives in India as well.

Building on the knowledge and expertise of the two world class

institutions, participants will examine the history and
development of European and French luxury, the changing
trends and development in newer markets, and gain a
competitive advantage that will allow them to bring India to its
anticipated place in the Luxury Industry.

• India inspired designs like the Guru jackets, bandhgala, an

international rage
• India is a hot destination for global advertising campaigns
by international luxury companies such as Hermes, Zegna,
Canali
• Parisian luxury brand Hermes has Indian themes on its scarves
• International perfume called Garden of Monsoon,
reminiscent of Kerala’s freshness after rain
• Cartier’s Inde Mysterieuse collection has drawn inspiration
from Indian designs and motifs 3
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PARTICIPANTS: WHO SHOuLD ATTEND?
Professionals with a minimum 5-7 years of full-time professional
experience are eligible to apply.
Suggested profiles include:
Entrepreneurs interested in the Luxury business.
Senior Executives (VP, GM).
Line-Managers (Brands, Stores, Merchandisers).
High Potential Managers.
Experts in Luxury & Fashion Industry operating in
Europe/France and Indian sub-continent.
Experience in the following roles is preferred but not limited
to:
Commercial (New Business Development) Directors.
Marketing Directors.
Strategy Directors.
Logistic Directors.
International Controller.
Export Directors.
… The programme on luxury management is a pioneering initiative
by two top management schools that provided us with great
insights in the luxury industry. The high quality of the faculty as
well as the interaction with the selected group of participants
turned the programme into a unique experience. (Susana Santos,
Director, BNP)
… quick way to gain important knowledge about the luxury industry.
I think I am in a much better position to plan future growth strategy
for my business. (Arjun Ranga, Managing Partner, MR Group)
… Its been an extremely insightful experience that will give us a
valuable thrust in our journey towards luxury… strongly recom-
mend such programs whereby participants acquire invaluable
returns on investment with fine management and business skills
gained along with clarity on culture and the spirit of luxury.
(Dushyanth Ganjam, Shreedevi Deshpande, Alpana Kolhatkar,
Ganjam Nagappa & Son Pvt. Ltd.)
… this course broadly helped me in my objectives and brought a
newer dimension in strategies to be applied while handling wider
portfolios of luxury product categories. (Anthony Rodrigues,
Business Head, Parfums Christian Dior, India)
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Building on ESSEC’s partnerships and institutions in the luxury
world, participants have the opportunity to meet with some
international partners and contributors, which are some of the
most recognizable names in the luxury industry. Current
partners and contributors include, among others:
Baccarat
Beaute Prestige International
Burberry
Chanel
Hotel de Crillon
Ferragamo
Four Seasons Hotel
Gucci Group
Hermes
L’Oreal
LVMH Group
Richemont Group
Valentino Fashion Group
… A fantastic initiative from ESSEC & IIMA. It has been a tremen-
dous experience and I have gained an important insight into the
luxury business which shall support our future growth strategy. It is
a must for all looking to understand and grow within the luxury
industry. (Deepak Bhagwani, Director, Manish Arora Three Clothing
Private Limited)
… Like the luxury industry in the country, window of education, in
this sector is rare too. Someone had to start and I am sure after a
period of time this program will grow to become as coveted as some
of the luxury brands that we discussed. Thank you ESSEC and IIMA
for taking the step. (Samrat Som, Creative Director, Louis Philippe,
Madura Garments)
… industry visit, presentations by industry experts, and meeting
like minded people… a very enriching experience! (Nehal
Bhimjyani, Business Head - "Chambor-Geneva")
PROGRAM
CONTENT
1 Competitive strategy and managing multi-brand
conglomerate.
2 Anthropology of luxury consumption.
3 Branding experience.
4 Service dimension in luxury brand management.
5 Luxury distribution.
6 Managing diversity and people in the luxury industry.
7 Finance and private equity in luxury industry.
8 Understanding markets and consumers.
9 Determining potentials of markets - location and formats.
10 Managing risks.
11 Evaluating opportunities for growth.
12 Enhancing supply chain and information efficiencies.
13 Using technology to enhance customer experience and
efficiencies.
14 Customer value based retailing strategy.
15 Pricing for brand building.
16 Effective loyalty program designing and implementation.
17 Brand valuation.

TOOLS
Presentations/lectures.
Case Studies.
Mini-cases.
Simulations.
Videos as teaching support.
Group Work.
Active Learning.
Field Visit.

Indian Institute of Management, Ahmedabad Campus

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PROFESSORS
Ashok Som
Associate Dean, Global MBA Program.
ESSEC Business School, Paris-Singapore.
http://www.ashoksom.com
Denis Morisset
Stefan Gröschl
Professor of Management and Co-Chair of Diversity and Performance
http://www45.essec.edu/faculty/stefan-groschl
Jayanth R. Varma
Professor, Finance and Accounting
www.iimahd.ernet.in/~jrvarma/
Piyush Kumar Sinha
Professor of Marketing and Chairperson, Centre for Retailing, IIM
Ahmedabad
Executive Director of Luxury Brand Management MBA and http://www.iimahd.ernet.in/~pksinha/
ex-CEO of Armani, France. Premchander
http://mba.essec.edu/business-school-paris- Professor, Finance and Accounting
program/luxury-brand-management http://www.iimahd.ernet.in/faculty/facultydetails.php?id=272
José Miguel Gaspar Samir K. Barua
Professor of Finance and Chair of Private Equity. Director, IIM Ahmedabad
http://www45.essec.edu/faculty/jose-miguel-gaspar http://www.iimahd.ernet.in/~skbarua/
Michel Phan
Professor of Marketing, LVMH Chaired Professor and
Academic Director of MasterCard-ESSEC Luxury Brand
Management Executive Program.
http://www45.essec.edu/faculty/michel-cao-tuan-phan
Simon Nyeck
Professor of Marketing and Co-Chair of Diversity and
Performance
http://www45.essec.edu/faculty/simon-nyeck

RETuRN ON INVESTMENT
Program fee is Euro 8,000 (for non-Indian participants) and INR 499,000 (for Indian participants) which includes:
Course materials.
Accommodation and food in Ahmedabad (IIM Campus).
Accommodation at La Defense, Paris (1 or 2* Executive Hotel). Details of accomodation at La Defense will be intimated later in the
acceptance letter. Breakfast, lunch, snacks and two dinners in Paris are included in this price.
Visit to fashion houses in Paris and Ahmedabad.
Please note that this fee does not cover air ticket, any local transportation and visa processing fees. All Visa and travel related issues are the
responsibility of the participants.
The intangible benefits of participation are invaluable, as the ESSEC-IIMA joint venture is the only luxury program in the world.
Participants can access the prestigious alumni network of both the institutions. Participants will acquire an invaluable return on
investment with the skills gained in networking, learning by doing, environmental awareness and value, relevance and intensity.

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ABOuT IIMA
Founded in 1961, the Indian Institute of Management,
Ahmedabad is widely recognized as a premier management
school in the Asia Pacific region. IIMA has always enjoyed special
preference by Indian and foreign recruiters because of its
excellent performance sustained over a long period of time and
its strong brand image. Today, IIMA Alumni occupy key positions
in top organizations in India and abroad and have successfully
acted as the ambassadors of change wherever they have worked.
IIMA’s vision is to achieve global recognition and emerge as a
leading player in the field of management education.
IIM Ahmedabad
Indian Institute of Management, Vastrapur, Ahmedabad 380 015
Phone: 91-79-6632 4072-77
Fax: 91-79-2630 0352 (MDP)
Email: mdp@iimahd.ernet.in
Website: www.iimahd.ernet.in/mdp
Reaching Ahmedabad
Ahmedabad is well connected to other parts of India through air,
rail and road. There are daily flights to important metros and
international flights to select destinations such as Dubai,
Muscat, Singapore, London, Paris, Frankfurt and New York. Daily
train services operate from Mumbai, Delhi, Kolkata and Chennai.
Computerized reservation facilities are available.
Reaching IIMA
Indian Institute of Management is 45 minutes drive from the
airport and 25-30 minutes from the railway/bus station. For
reaching IIMA, ask the taxi for “Indian Institute of Management
(IIM), Vastrapur”. Buses, metered auto rickshaws ply day and
night and provide an alternative mode of transport. Taxis are
available near the railway station and the airport and the tariff
varies according to distance.
ABOuT ESSEC
BuSINESS SCHOOL
PARIS-SINGAPORE
ESSEC Business School, École Supérieure des Sciences Économiques
et Commerciales, founded in 1907, is a major player in
international management education. With 3,900 students, a
wide range of management programs, partnerships with the best
universities in the world, a network of 31,000 graduates, a
faculty made up of 120 permanent professors recognized for the
quality and influence of their research, ESSEC perpetuates a
tradition of academic excellence and cultivates a spirit of
openness at the service of firms and individuals. ESSEC has
developed a strategic alliance with the University of Mannheim in
Germany. The partnership with the IIM Ahmedabad will
consolidate ESSEC’s strategy - a strong European foundation for
a wider opening onto the world.
ESSEC Executive Education
CNIT - BP 230 - 92053 Paris-la-Défense
Tel. +331 46 924900
Fax. +331 46 924990
Coming from Paris
The most practical solution is to use the RER A (Red) train line or
Metro Line 1 to reach La Défense terminus. It will take about 10
minutes to get to La Défense from Port Maillot and 30 minutes
from Gare de Lyon.
The RER is faster than the metro. The ticket has to be valid for
Zone 3 where La Défense is located. There is a direct exit to CNIT
Building where ESSEC Executive Education campus is located.
Coming from Roissy Charles de Gaulle airport
Accessible from the airport at Roissy pole, RER B train line goes
into central Paris. At Châtelet les Halles station, switch to RER A
to La Défense. To reach Paris, your trip will be considerably
shortened if you use the Air France shuttle buses that bring you
into the heart of the capital in 30 minutes.
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For more information, please contact us at:
Paris:
Geneviève BURKE
Tel: + 33 (0)1 46 92 17 89
Fax: + 33 (0)1 46 92 49 90
E-mail: burke@essec.fr
Website: http://formation.essec.fr
ESSEC Business School
cnit - BP 230 - 92053
paris-la-défense france
Tel: 331 46 92 49 00
Fax: 331 46 92 49 90
Website: www.essec.edu
www.formation.essec.fr
Ahmedabad:
Manager MDP
Indian Institute of Management
Vastrapur, Ahmedabad 380 015
Tel: 91-79-6632 4072-77
Fax: 91-79-2630 0352 (MDP)
E-mail:mdp@iimahd.ernet.in
Website: www.iimahd.ernet.in/mdp
© ESSEC - CTD / 0611091519