NEW DELHI: Indian Institute of Management,Bangalore announces a three-day executive education program in luxury business.Titled ‘Strategic Management of Luxury Business: Managing Luxury Products and Services – from Concept to Consumer’, the program is targeted at entrepreneurs and CEOs of new luxury businesses, GMs/ profit centre managers of international luxury businesses, designers looking to create luxury brands, managers of luxury franchise businesses, suppliers of products/ services to international luxury businesses, marketing managers of luxury brands, and advertising agency executives of luxury brands.

Starting September 9, 2013 , the program involves three days of classroom workshops, exposure to various case studies and work-based assessment. IIM-B faculty and senior industry practitioners will deliver the course.

Professor S Raghunath, corporate strategy and policy and dean (admin) IIM-B, says: “Corporate executives and entrepreneurs are interested in a business model that would work for Indian conditions. IIM-B’s niche program on luxury business addresses this need.” He says participants from established brands in luxury business – products and services – will learn about strengthening their brand presence in India, given the characteristics and culture of Indian society.

“By providing the opportunity to enroll for this program, IIM-B hopes that we can open more doors for senior managers and entrepreneurs in the luxury brand markets. It will also help in showcasing luxury products and services from our culture to global markets.”

Observing that India and China are turning out to be the biggest luxury brand markets in Asia, Raghunath reiterates that Indians are steadily acquiring means and taste for luxury. The course, offered at IIM-B, intends to examine the major future trends that will shape the evolution of the luxury business, especially with the revival of haute couture in India where the desire to make grand statements is high. From consumer buyer behavior of luxury to managing portfolio of luxury brands and from globalization of luxury business to managing channels – direct, JVs, or franchise, the program will cover various aspects of luxury business.