Hi..
I've got almost 3years work-ex in Advertising and Corporate Communications.. thinking of pursuing a career in Luxury brand management.. Thinking of schools in Paris like HEC.. ESSEC etc but the courses are quite expensive considering they are the best in the field. Wanted to know the placements at these institutes, the companies recruiting.. salaries offered etc.
Hi,
I'm a student at HEC and went there because I was interested in what they could offer in terms of luxury classes.
HEC has a certificate in Luxury Strategy which is fairly new (they only started it last year) but has very strong backing.
The program is academically strong. As you can see here (
http://www.hec.edu/Certificates/Luxury-Strategies/Faculty) the faculty come from the finest French luxury companies but I'd like to mention 2 teachers I really appreciated.
Bastien was Louis Vuitton CEO, at the time the company started to expand internationally. E.g. He opened their first shop in China. He also worked with Yves Saint Laurent and was CEO of Lancel. So he has a lot to say about the luxury world and its evolution.
Dauger was Hermès' CMO and worked at P&G prior to that so she can offer a great point of view on mass versus luxury product development.
Both were very open, available for chat outside of class and provided precious advice about my potential fit in the industry.
In general, people interested in luxury have a lot for them at HEC. The luxury club is very active and organises company visits at big brands. The proximity with Paris is also great. When I was there we had a special tour of respectively Vuitton's and Hermès' flagship stores, or spirit producers like Moet and Hennessy. Each time we had direct access to the company's HR who gave an overview of the company and was available to chat.
Another thing is that HEC and Paris in general have such a reputation that it always attracts a good group of people interested in luxury or who have worked in the field before. Some have worked in fashion, some in magasine, some in fine spirits or cosmetics. If you have no prior experience in luxury and you'd like to test yourself (like me) it's just great to get free feedback from these people on an equal basis, as we're all students. I probably learned as much from them as from teachers as they gave me a backdoor view of the industry.
Finally, the HEC alumni network includes a special chapter on luxury and fashion which organises events regularly. I attended one with the CEO of Berluti and Marc Jacobs, who's also an HEC MBA alumn.
So, I would say that the luxury ecosystem around HEC is great.
In terms of placement, in my intake, I know of 3 people who got hired recently at Gucci, Givenchy and Cartier, in Paris. None of them spoke fluent French (this is very rare to find a job in France is you don't speak French). One did an intership at the strategy department of Hermès. Another got hired at LV in China through her HEC connections in Paris. Out of these 5 examples, only 1 had prior experience in the luxury industry.
In terms of salary, it always depends on the position. You should know though that, in general, the luxury industry pays (way) below average. But it's often compensated by all the side perks you can get, ie. discounts, party invitations, etc.
So I'd say that if getting a foot in the luxury sector is what you're looking for, HEC is a good place. If what you're looking for is a high salary straight out of the MBA, then don't go into luxury.
PS: If you manage to get a good amount of money, get admitted, and would like the full-on top MBA and Luxury training, I think the best training you can get is the HEC-NYU dual MBA degree (about $95k in total tuition).
1st year at HEC with the Luxury strategy track, summer internship at a luxury shop in Paris, then second year at NYU with their Luxury Marketing specialization. It's interesting to have a view of the different understanding of luxury from both sides of the Atlantic.
And, with the help of the NYU career service, you're then 100% sure to land a fantastic job in luxury in New York.