Luxury Management MBAs A Popular Choice
June 29, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
Despite the global recession, the field of luxury management is still getting attention as an interesting specialty focus for some pursuing an MBA degree.
"I think being focused and having a specialization, especially in luxury, makes a person more marketable in this economic climate," Rupal Patel, who enrolled in a luxury MBA program this fall told BusinessWeek. "The ultra-wealthy will always buy luxury goods, regardless of the fluctuations in the economy, so that kind of gives us some hope."
The past decade or so has seen a rise in the number of luxury-management MBA degrees offered by schools. The programs give students the chance to specialize in sectors such as fragrance and cosmetics and wine and spirits.
Because the luxury markets are cyclical, it is a good time to enroll in a luxury MBA program, according to Milton Pedraza of the Luxury Institute. "You'll be spending your time learning in what is a severe downturn" Pedraza told BusinessWeek, "and you'll really understand the rough side of the industry."
That knowledge will put you in a good position to take advantage of the return swing when the economy picks up again, making it an excellent time to consider getting your MBA.
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