FASHION MANAGEMENT

Date :15 Nov, 2018

Posted By:Team - Jitin Chawla's


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FASHION MANAGEMENT

Introduction

The Indian fashion industry is moving up the fashion value chain and witnessing the expansion of domestic and global fashion brands. It is one of the most dynamic, challenging and fastest growing sectors in India as well as globally. A large number of leading global fashion brands such as Louis Vuitton, Tommy Hilfiger, Espirit, Gucci, Nautica, Christian Dior, Chanel, FCUK, etc are already in India, while many others are planning to enter the dynamic market here soon.

With the rapid expansion of the industry, it is becoming organised and intensely competitive. Fashion or apparel management and its allied fields of work including fashion retail, and fashion merchandising, have become increasingly important today.

Fashion Management educates students in fashion marketing, merchandising and retail. It develops managerial talents for the garment export and the fashion retail sectors. Fashion Management professionals may explore a wide variety of career options, such as merchandising, buying, retail management or E- retailing. The current growth of the apparel industry both domestically as well as overseas, clearly indicates a huge requirement of professionally trained merchandisers and managers.

The digital revolution has also changed a lot within retail and the fashion industry, meaning those who seek a career in fashion and brand management must understand how the industry is continuing to develop in a global market and how this affects business. A specialized MBA in fashion will teach you how to work with these changes and how to develop a business with them in mind.

Fashion industry is relationship driven:As with many creative industries, the fashion world is incredibly relationship-driven. Both lucrative and highly competitive, those interested in working in fashion will often have to spend a long time developing contacts and, more importantly, friends within the industry in order to be in with a chance of getting into fashion.

From this it is clear that although a fashion career will require you to network, it does not have to be a chore. Developing friendships and working relationships will be one of the most important factors in advancing your career within fashion management so it is vital for you to relish this aspect.

Commitment to the fashion industry: Whether you study for a specialized MBA in fashion or a more traditional MBA, an interest in fashion itself is very important. It may not necessarily be an interest in wearing fashion, but a passion for the creativity or artistic nature of fashion is essential.

Getting into fashion management:Getting into fashion management within a big global brand may not happen overnight. Entering the industry is often down to lucky encounters as much as it is through painstaking determination. Many graduate MBAs have entered the industry through entrepreneurial ventures or work in advisory roles.

During your MBA you may want to consider interning for a smaller company within the industry. For businesses starting out, MBAs can offer valuable insights and skills in professional management, and, in return, the company can give you a place to test out and showcase your ideas. It’s all very well knowing you’re brilliant, but employers will want evidence of your professional experiences and the only way to do this at the very beginning is to offer your spare time to those in need but with limited funds. Who knows, it could even lead to a post-MBA job title better than you ever expected.

Focus of a Fashion Management Degree

An ideal programme in Fashion Management offers a solid platform for those wishing to pursue careers in International Marketing, Fashion Merchandising, Brand Management, Retail Buying and Global Sourcing, Product Development, Retail Management, Visual Merchandising, Export Merchandising, Management Consulting, Fashion Education, Retail Technology, Supply Chain, Customer Relationship, Advertising etc.

The objective of the Program in ' Fashion Management' is to develop managerial talents in the field of marketing, merchandising and retailing best suited to the requirements of the garment export and fashion retail sectors. Students undergo rigorous education in buying, merchandising (retail and export), retail operations, advertising, forecasting, international marketing, international trade practices and project formulation. They are exposed to creative merchandising/marketing, innovative fashion management practices, directions of fashion trends and business practices through field visits and industry internships. They have the right blend of hard and soft skills and possess the right attitude to enter the middle management of any growing organization.

Internships & Placements

Most schools have made summer internships / projects with Companies for their students. The companies upon completion of the students' programs employ them full time. Moreover, almost all design schools have placement cells, which arrange for on campus placement. Most of the students in top design schools get placement on campus

Career Prospects in Fashion Management

You don’t have to sketch elaborate ball gown designs or hem suits to make the most out of your fashion management degree. Being a designer is one of the higher profile roles you can fill in the fashion and luxury industry, but this position requires a talent that is often innate.

Don’t worry, there are a multitude of careers in fashion management and luxury brand management, so many that you may start in one position and naturally gravitate to another within the fashion and luxury industry, making you cross-functional and more marketable.

The streams that can be chosen after pursuing Fashion Management are:

1.      FASHION & LUXURY MERCHANDISING

Fashion & Luxury Merchandising involves analyzing market trends, strategic production planning, managing purchase negotiations and developing advertising and marketing strategies.

2.      BRAND MANAGEMENT

Managers are responsible for developing and executing online and offline marketing initiatives to improve the positioning of a product or service in the fashion & luxury industry.

3.      PUBLIC RELATIONS

Public relation personnel work alongside fashion editors to generate positive publicity and client brand recognition. These individuals engage in market research, trend analysis, customer retention tactics, and networking initiatives with celebrities, models and other public figures who can elevate a brand or concept.

4.      FASHION & LUXURY BUYING

Fashion & Luxury Buyers travel to production facilities, trade fairs and fashion shows worldwide to see which fashion & luxury pieces are materializing in the industry in order to determine what a company will showcase based on emerging seasonal trends.

5.      RETAIL / SALES

The goal of the retail and sales sector in the fashion & luxury industry is to use innovative business strategies to ensure products reach consumers by the most effective and efficient means possible. Some responsibilities include analyzing customer demand, forecasting sales, negotiating prices with suppliers, managing a team, attending trade events, and planning brand bolstering engagements.

6.      MARKETING / ADVERTISING

In the fashion & luxury industry marketing and advertising managers manage various campaigns to improve the branding of a product or service a company provides impacting the bottom-line, net profits.

7.      ECOMMERCE / SOCIAL MEDIA

Social Media Managers working in the fashion & luxury industry are responsible for creating brand awareness, driving traffic, and fostering engagement with online communities. They give the brand a voice and generate interest by publishing relevant content, launching promotional campaigns, and creating partnerships across all platforms.

8.      VISUAL PRESENTATION/STYLING

These roles are not the same, but there is some overlap, requiring creativity and vision. From someone who selects the clothing and accessories to props for published editorial features, print or digital advertising campaigns, music videos, concert performances, and public appearances celebrities, models, and important figures make.

9.      FASHION JOURNALIST

Writers who love fashion have the opportunity to give their insight into the exciting world of fashion. From hard copy magazines to online blogs, you can also write for eCommerce websites, PR firms and trade publications.

10.  PRODUCTION MANAGEMENT

Production managers oversee textiles and clothing made at the manufacturing level. They work closely with retailers and suppliers assure quality standards are kept.

Job Profiles in Fashion Management

It’s no surprise that fashion marketing and retail management courses are rising in popularity each year, and with the right amount of experience, you might be surprised at just how many different career options are open to you. Some of the roles that you can step in after graduating in Fashion Management are:

1.      Vendor Analyst

Fashion retailers can only sustain their competitive advantage when they are able to extract the highest quality materials at the lowest possible costs. Vendor analysts for high fashion brands use their analysis skills and business expertise to choose the best suppliers for their products.

2.      E-Commerce Entrepreneur

With the right wealth of experience and know-how, you can launch your own fashion business online. Self-made entrepreneurs are dominating the fashion industry, and it seems that with the success of online start-ups like Rent the Runway, e-tailing is here to stay.

3.      Merchant Acquisition Manager

With a focus on production and sourcing of quality sellers, this career is perfect for those who are skilled at building strong relationships. This role requires in-depth industry knowledge, strong analytical skills and the ability to identify upcoming fashion trends.

4.      Creative Consultant

Creative consultants provide essential expertise in the area that intersects fashion and business. They are not designers; rather, they provide a creative direction for fashion industry professionals that attract and grow their target audience.

5.      Commercial Director

Focusing on product placement, merchandising, and sales revenue, commercial directors of high fashion brands are in charge of overseeing budgeting, operative, and supply chain activity, while carrying out the company’s development growth model to fruition.

6.      International Programme Manager

As an international programme manager, you will be responsible for executing the successful expansion of a global luxury brand or company. Using your business development expertise, you will work with marketing and operations professionals to achieve corporate objectives.

7.      Stylist Operations Manager

Stylist operations managers use their luxury branding expertise to liaise over daily activities, with the goal of optimising business practice, conducting regular audits, increasing output while minimising input, and ensuring legal and corporate compliance.

8.      Fashion Business Advisor

As a fashion business advisor, you will be providing companies with the toolkit to build and sustain a successful luxury branding enterprise, advising on everything from business strategy and fashion marketing techniques to building brand awareness and optimising product distribution.

9.      Chief Merchandising Officer

Effective fashion brand management relies on the strong direction of a chief merchandising officer to meet customer demand and employ corrective measures when needed. You will be responsible for allocating merchandise, creating product assortment plans, and using business analytics to boost sales growth.

10.  Business Developer

11.  Fashion Photographer

12.  Marketing Data Analyst

13.  PR & Marketing Coordinator

14.  Product/Sales Manager

15.  Visual Merchandiser

Top Employers in Fashion Management

Companies which generally recruit aspiring fashionmanagers are:

·         Abhishek Industries

·         Adidas

·         Aditya Birla Group

·         American Pacific

·         Arthur Anderson

·         Arvind Mills

·         Ashima

·         Benetton

·         Blackberry’s

·         Body Shop

·         Busana Apparel Group

·         Calvin Klein

·         Canary Blue

·         Carrefour

·         Colour Plus

·         Creative Group

·         Creatnet

·         Debenhams

·         East West

·         Esprit

·         Fabindia

·         FUK

·         Federated Group

·         Francis Wacziarg

·         Future Group

·         GAP India

·         Givo

·         Indian Terrain

·         Infosys

·         ITC Wills Lifestyle

·         JWT

·         Lacoste

·         Landmark

·         Levi’s

·         Li & Fung

·         Lifestyle

·         Marks & Spencer

·         Mast Lanka

·         MCannErickron

·         Mckinsey, etc.

Institutes for Pursuing a Degree in Fashion Management in India

BACHELOR’S DEGREE

S.No

Institute/College

Degree

1.       

Pearl Academy ( Jan or June) 

 

 

Fashion Business Management 

Fashion Marketing & Retail Management 

Luxury Brand Management 

2.       

IAM-Gurgaon ( January)

Apparel Design & Merchandising 

3.       

FDDI - Noida ( April) 

B. Design ( Fashion Merchandising & Retail Management

POSTGRADUATE DEGREE

S.No

Institutes

1.

NIFT-Delhi 

2.

IAM-Gurgaon 

3.

NIIFT-Mohali 

4.

FDDI-Noida

5.

SOFT-Pune 

6.

Pearl Academy

 

Institutes for Pursuing a Degree in Fashion Management from abroad

 

BACHELOR’S DEGREE

S.No

Institute

Degree

1.

IstitutoEuropeo di Design- Barcelona/Milan

BA (Hons) in Fashion Marketing and Communication

2.

IFA Paris

Bachelor in Fashion Marketing

3.

Humber College, Canada

B. Com in Fashion Management

4.

Raffles Design Institute, Hong Kong

Bachelor of Design in Fashion Marketing

5.

The American Business School of Paris, Paris

Bachelor in Fashion and Luxury Retail Management

 

POST GRADUATE DEGREE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S.No

Institutes

Degree

1.

IstitutoEuropeo di Design, Florence 

Master in Fashion Business

2.

LUISS Business School, Rome 

Master in Fashion & Luxury Management

3.

Domus Academy, Milan

Master in Fashion Management

4.

Milano Fashion Institute, Milan

Master in Fashion Direction: Brand & Product Management

5.

Antwerp Management School, Belgium 

Master in Fashion Management

6.

GBSB Global Business School, Barcelona

Master in Fashion & Luxury Business Management

7.

Accademia del Lusso, Milan

Master in Fashion Brand Management

8.

SDA Bocconi School of Management, Italy

Master in Fashion, Experience and Design Management

9.

LISAA Paris

Master in Fashion and Luxury Management

10.

University of Westminster, London

MA in Fashion Business Management

11.

Fashion Institute of Technology, New York, USA

Master of Professional Studies in Global Fashion Management

12.

IstitutoEuropeo di Design, Barcelona

Master in Design Management