Beauty Students Challenged to Create a Product For Top 2% of the Luxury Customer
In FIDM Instructor Harriet Sustarsic's Luxury Brand Development class, students in the Advanced Study Program in Beauty Industry Management explore the history, consumer psychology, and strategic brand management considerations particular to the luxury market.
Working in groups, the students complete a 3-part final project where based on extensive research, they select an "ultra luxury" brand or experience that caters to the top 2% of the luxury customer and create a beauty sub brand or line of products that fits within.
Throughout the course, they learn the nuances of the affluent customer and how to develop and successfully manage marketing, distribution, and development of a luxury brand or product in a way that aligns with the high expectations of a luxury brand's vision and strategy.
Synthesizing knowledge about the beauty industry with critical thinking skills, they analyze beauty industry business situations within the luxury market.
The students are assigned luxury brand analyses where they compare and contrast the characteristics specific to different luxury brands and present their case as to why their chosen brands qualify to be luxury.
Complementing the curriculum, the students will be visiting the Hermes Beverly Hills flagship store on Tuesday, March 10, where they will meet with the VP of the Western Region, who oversees buying and has just returned from Paris.