The Covid-19 pandemic has drastically changed the way we work, with an increased emphasis now being placed on ‘upskilling’ – through training programme and advanced educational degrees.
Whether executives want to look for better opportunities once the situation settles down, focus on improving their productivity in their existing job role or just want to enhance their CVs for the future, they now have a plethora of options to choose from.
One postgraduate degree that has stood the test of time is an MBA, and while several options exist in the market, it is crucial you choose an accredited one.
But it is also a good time to pursue a specialised course in sectors such as the luxury industry, which promise strong potential for future career growth in the UAE. Having posted a CAGR (compound annual growth rate) of 7.4 per cent since 2018, it is anticipated to reach up to $14.9bn by 2023, according to a report by Bain & Company.
Swiss watches are a key indicator of how the industry is performing, and UAE ranked first among Arab countries – and 10th globally – on the imports of luxury watches in 2018. The country imported Dhs3.36bn worth of watches – representing an almost 2 per cent growth on the year before.
Meanwhile the growth of luxury online shopping in the country is also almost double that of the rest of the world. According to the Bain report, online shopping grew 22 per cent over the course of 2018 in the country and represents 10 per cent of all luxury sales globally.
In response to the need for trained professionals in the luxury space and to upskill employees already working within the booming industry, University of Wollongong in Dubai (UOWD), the highest ranked Australian university in the UAE, has now announced the launch of a new Masters’ degree – Global Executive Master in Luxury Management (GEMLux).
Created in partnership with prestigious Italian business school Politecnico di Milano’s Graduate School of Business, the course was developed for students that wish to launch an iconic luxury brand, understand the luxury retail experience, promote a major luxury shopping destination, create an image for a brand to attract customers and create unique and unforgettable experiences.
The unique programme has also been supported by industry heavyweights from the world of luxury, such as Chalhoub Group, Ahmed Seddiqi & Sons, Jaeger-LeCoultre and Ferrari S.p.A.
To be offered in UOWD’s campus in Dubai Knowledge Park from Autumn 2020, the dual-degree programme features courses covering strategy, contract negotiation, luxury customer experience design and marketing, supply chain management, brand management and distribution.
As part of the four-semester curriculum, students will travel to prominent luxury shopping and fashion capitals such as Milan, Geneva and Paris to participate in factory tours, as well as visit the headquarters of luxury brands, exhibitions and industry fairs.
The programme aims to help students evolve into luxury brand managers, fashion retail buyers, branding and PR specialists, creative directors, brand ambassadors and visual merchandising executives.
Professor Mohammed Salem, president of UOWD, said the programme bridges the gap between luxury goods and business management.
“It is also a big draw for people who wish to deepen their knowledge of luxury management, and enhance their creative and managerial skills in the luxury goods and services sector.”
Professor Alessandro Brun, director of GEMLUX at the Politecnico di Milano – School of Management added: “The need for managerial competencies in the luxury market is higher than ever before, for several reasons: increasing global competition; the fast pace of change; going ‘back to the basics’ to embrace and nurture the heritage of craftsmanship; the need to manage complex global supply chains and international compliance regulations, among other factors.
“Our exciting new programme benefits both Masters’ candidates and industry leaders, and we are confident that it will contribute significantly to the ongoing development of the field of luxury management.”
Established in 1993, the UOWD was the first international university in the UAE, and is now part of a global brand that has campuses in Australia, Hong Kong and Malaysia. The institution offers 44 accredited programmes including foundation courses and undergraduate and post-graduate degrees spanning 10 industry sectors, such as engineering, business, ICT, communications and media.
For further information on business courses, visit https://admissions.uowdubai.ac.ae/business-management/ and for all GEMLux enquiries, please visit: https://admissions.uowdubai.ac.ae/luxury-management/ or contact UOWD’s admissions office on [email protected]