CAREER DEVELOPMENT / MAR. 11, 2014
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What to Expect When Working in Luxury Retail

With people’s growing romance with luxury, more and more professionals are choosing careers in luxury retail management. It offers gratification of being associated with something they and their peers aspire to. You can work as a brand ambassador, communications professional or get promoted to an area/ store manager. The reason many MBA’s today want to work in luxury industry is the huge perks that are being offered.

What luxury retail environment is all about?

If you are working in a luxury retail environment, you are expected to provide a unique ambiance and atmosphere, reflecting and reinforcing the values of the brand. You have to be competitive enough to offer an exceptional and unparalleled shopping experience in which consumers develop long-lasting and emotional ties with the brand.

Why should you get hired in a luxury store?

  •          Extremely lucrative careers
  •          Satisfaction even at the entry-level jobs
  •          Get to travel to luxury stores in different parts of the world
  •          Fancy pay packages

Pre-requisites

You need to have presence, demonstrate resilience and passion for maintaining high standards, as well as being attentive to detail.

  •          Deep knowledge and understanding of trends
  •          Vested interest in fashion
  •          Excellent communication skills
  •          Well informed about the brand they represent
  •          Be able to inspire confidence
  •          Relevant experience in fashion industry

Formal training and Education

Many MBA’s today are opting for jobs in luxury retail stores. All that is required is the relevant experience in the luxury field. Even if you are not an MBA you can still look forward to acquire the skills required to succeed in luxury retail management.

Various courses that are offered:

  • Bachelors in fashion, luxury and retail management
  • MSC in Luxury Management
  • MSC in Retail Management

Pay scale

According to simplyhired.com, the average salary for luxury retail manager jobs in New York, NY is $129,000. Average luxury retail manager salaries can vary greatly due to company, location, industry, experience and benefits. As stated by indeed.com, the average High End Luxury Retail Manager Boutique Manager salaries for job postings in New York, NY are 31% higher than average High End Luxury Retail Manager Boutique Manager salaries for job postings nationwide.

Flipside

If you are working for a luxury store, you are required to maintain very high standards. There is a tremendous pressure to maintain the code of house. A luxury professional is always expected to promote what he stands for. It could be while choosing an outfit or while speaking to someone. Even when you are out socializing you are representing and selling the brand. It is a daunting task to know that you are representing an international brand. A significant amount of a luxe professional’s salary goes in maintaining the fashion standards as per brand’s policy. You can grow in your career only if you meet all the targets within time.  Behind all the glamour, there are long working hours and a hectic travel schedule.

Last word: While you are promoting a brand be very careful and very nurturing. Your one wrong strategy can tarnish centuries of brand-building and put an end to your career.

 

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