In this interview, he talks about the school's luxury MBA track, trends in the industry and why the new International Master in Luxury Management (IMLUX) is partnered with fashion giant Gucci.
Why do you think MBAs make a good fit within the luxury industry?
Many luxury firms have been growing very rapidly in the past few years – especially Italian companies – under the guidance of talented and enlightened company managers.
A lot of people started from a specific appointment in design or in style, with very good knowledge of the specificity of the business – but at the same time with poor knowledge of managerial practices.
With the MBA we want to provide people coming from all business sides with basic managerial skills – accounting, marketing, finance – that they would need to operate a company in the luxury sector, like a fast-moving consumer goods company.
How does MIP develop connections with luxury companies?
The school of management is not just about graduate education; it’s also in charge of research. We started working with luxury with companies in 2000. We started doing research with companies to understand their practices, and provide companies with some guidance as how to improve their internal processes by developing case studies, and working with them on specific consultancy projects.
At the same time we got in touch with many managers in the key departments of those companies. So when we started teaching we already had a number of companies with which we were working with, which we invited for case studies, seminars, round-tables and company visits.
What career support is there for your MBA students who specialize in luxury management?
Typically during the first months of a Master’s program you can see students becoming aware of a wealth of different opportunities. The first step is a consultancy project in which you enter a company, analyse a process and propose solutions. It encompasses four to five visits to the company and another three or four meetings, to come up with a report to suggest improvement areas.
After that we offer all the students on the MBA project work – a final internship – after the end of the classroom period, in a company, full-time, for three months. This is a real job experience... and it’s offered to 100% of the students on our full-time MBA course. We think just classroom activity is not enough; we want to create a real connection with business.
What is the benefit of being partnered with Neoma Business School, and is there a benefit to IMLUX students being based in Milan?
You spend six months in France and six months in Italy. The idea is to explore the two probably most interesting business models in luxury – French and Italian. Plus [they get] the possibility of a number of hands-on experiences like company visits, and attending showrooms and shops in Paris and in Milan.
They do this both with a guided tour and with mystery shopping, where students enter a shop and they don’t declare they are students; they pretend they are buyers and ask a number of questions. This is the best way to prove whether a brand is consistent, and whether there is a continuous link between what they advertise and what is the real delivery to the customer.
And of course this test cannot be done outside the key fashion capitals of the world. Of course we also mention London and New York City [as key fashion capitals]. We have students from Brazil, India [and other destinations] coming here because there is a benefit of attending a Master’s program in these key locations.
Tell me a bit more about MIP's collaboration with GUCCI.
They offer a number of projects. The type of involvement is stronger than the kind of involvement we have with other companies in terms of seminars, and in terms of executive speeches.
We had virtually the manager of every single department in Gucci coming for one afternoon at MIP and presenting his [or her] own job, career path, the strategy of Gucci in terms of marketing, finance and logistics.
This is very enticing because students really get to know one of the most important luxury brands in Italy by hands-on contact with these top managers. It’s a great opportunity for the students.
Have Gucci hired any of the IMLUX students?
Not yet – students are still attending the classroom. It’s the first addition this year. The recruiting process is just starting now. I’m very positive about the opportunity which they are offering to our current students.
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