Master in Luxury Goods and Services (MLUX) - IUM MONACO
Level of study: Graduate
Type of program: Master of Science (MSc)
Location:
Monaco / Monte-Carlo
Other locations: London, Paris
Program Description
Program Courses
The Master in Luxury Goods and Services (MLUX) is an ideal course for students interested in acquiring a managerial or entrepreneurial expertise. The program is built in order to develop hard skills but also the soft skills necessary to enter in the luxury business. 

Merging strategic thinking with corporate creativity. The program integrates rigor and intellectual scope, vital to successfully understanding the high-end market. It focuses on how the luxury industry interacts with the economic, cultural and technological environments of the twenty-first century, the characteristics of today’s luxury consumer and the resonances generated by high-end goods and services.

Exploring the current and on-going challenges facing the wider luxury sphere. The MLUX program seeks to produce imaginative practitioners able to apply their business knowledge and creativity from across specific industries.

Integrating project-based and practical learning. Based on an industry-specific perspective, the MLUX utilizes case studies, project-based learning and professional immersion to demonstrate a visionary approach to the world of luxury.
LXRY 651: Introduction to Luxury Goods & Services
This course provides a broad overview of the entire
luxury industry and outlines the diversity of numerous
luxury sectors. Using case studies, articles and other
professional reports, the course considers methods
and techniques for organizing and managing the
unique factors impacting the industry.

LXRY 652: Marketing of Luxury Goods & Services
This course provides an overview of the entire luxury
marketing management process in a global context.
It explores the role marketing plays within luxury
companies and focuses on the development and
analysis of consistent marketing strategies.

LXRY 665: Luxury Consumer Behaviour
This course investigates the dynamics of human behaviour
and how it relates to decision making in the
luxury sector. It concentrates on the most important
factors that influence the consumer’s decision making
process: motivations, personality traits and the
self-concept, values and lifestyles, psychological
processes as well as group membership, social classes
and subcultures.

LXRY 653: The Luxury Legal Environment
This course presents the principal legal mechanisms
used when working with luxury goods and services,
and focuses on specific issues of law and the luxury
industry such as counterfeiting, intellectual property
rights, brand protection, distribution agreements, etc.

LXRY 655: Human Factors in the Luxury Industry
This course focuses on organizational behaviour and
systems, and human resource management for the
luxury industry. It concentrates on the variables that
affect behaviour at the individual level as well as
group dynamics.

LXRY 655: Luxury Industry and Competitive Analysis
This course provides students with the opportunity to
critically review microeconomics and macroeconomics
theories, conceptual frameworks and other
models in order to understand the dynamics of a
given industry and assess the firms’ competitiveness
within. The course culminates with an in-depth analysis
of a luxury sector.

LXRY 657: Supply Chain Management in the LuxuryIndustry
This course focuses on supply chain and distribution
issues which are assessed and discussed using topical
examples from the luxury industry.

LXRY 658: Accounting and Financial Management in the Luxury Industry
The course provides an overview of the financial aspects
involved in making luxury business decisions
such as forecasting, budgeting, optimizing, valuing,
evaluating, and auditing results.

LXRY 654: Capitalizing the Luxury Venture
This course examines ways of financing the start-up
of a new luxury venture. Students will learn how to
prepare a financial plan, including projecting sales
and capital expenditures, as well as designing proforma
income statements, balance sheets, and
sources and applications of funds statements.

LXRY 661: Luxury Product Design, Development, & Management
This course introduces students to the tools, tactics,
and strategies employed in the luxury product or service
design and development process.

LXRY 659: Luxury Communication
This course introduces students to the ways in which
global integrated marketing communications
(GIMC) can be used in strategic planning for the
luxury enterprise.

LXRY 660: Luxury Distribution,
This course focuses on the critical elements impacting
the quality and nature of the luxury purchasing experience.
Students will learn how to adapt the luxury
retail outlet to conform to customers’ expectations
in terms of mood, atmosphere, physical impression,
and sensation; and will appreciate the importance
of the tactile elements of the luxury shopping experience
in communicating the brand message.

LXRY 663: e-Luxury
This course is designed to introduce students to the
new technologies that are influencing the luxury industry.
It focuses on new technologies used in webmarketing,
communications, research, and E-tailing.

LXRY 662: Luxury Selling & Boutique Management
This course introduces students to sales techniques
and retail matters from a managerial perspective.
Customers’ needs and behaviours within a retail setting
are analyzed in order to develop stronger and
more efficient relationships with clients.

LXRY 656: Managing Luxury Brands
This course provides an overview of the ways in which
luxury brands are conceived, developed, launched,
nurtured, and protected.. A practical approach is
emphasized throughout the course by reference to
real world examples and proven tools used to build
a luxury brand.

Professional Research Project (9 credits)
As the culminating experience of the MLUX, this
course requires students to develop a project-based
field study to investigate industry, market, and topical
issues or opportunities related to the luxury industry.
The course is designed to facilitate the application
of theory, academic models and concepts,
proper terminology, creative skills, and knowledge
acquired over the course of the MLUX program. Students
will also have to conduct a comprehensive
research that will be valuable for the company or
brand investigated.
Credential:
Master of Science in Luxury Goods and Services (MScLGS)
Accreditations:
AMBA
Dual degree / Diploma:
No
Joint degree:
No
Study abroad:
Yes
Pathway Option:
-
Transfer-In Maximum:
-
Total Program Duration:
16 months
Study Duration:
10 months
Internship:
6 months
Coop Duration:
No
Practicum Duration:
No
Type of delivery:
Online, F2F, Blended, Other
Ratio Stud-Inst:
Class sizes:
Number of students:
International students:
Number of countries:
Alumni / Testimonial
IUM is the right place to study luxury and develop a great network of contacts.
Anna Kaznacheeva (Russia)
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Unique Features
Famous Alumni
  • A very diverse student body, in term of backgrounds, interests, and nationalities
  • Strong international links in many different luxury industries
  • Lasting partnerships with international major players supporting the program with lectures, and career opportunities
  • Many group activities enabling students to develop a team work spirit
  • Presentation skills practice throughout the year


Application fee:
100 EUR Non-refundable
Deposit:
6000 EUR First term fees - first installment
Tuition fees:
18100 EUR €12,200 - Direct Admission Term 2 - Required 240 ECTS/120 US credits degree with a specialization in same area as the Masters program applied for. Decision by IUM Admission Committee.
Material fees:
€300/term Textbooks
Other fees:
€150 Student Association Fee, €600 IUM for Life Fee
Housing application:
700 /month
Housing fees:
- IUM Housing Department provides information on housing options
Financial Aid:
Contact information:
Intake:
September, January
Application Deadline:
June 15 (Sept Intake), October 20 (Jan Intake)
Admission Requirements:
3 or 4 year Bachelor’s Degree
Language requirements:
Proof of English Proficiency - IELTS, TOEFL or IUM English Entry Interview
Transfer:
Depending on courses taken - incoming Study Abroad Semester possibility