This year St. Gallen has introduced a Luxury Insights elective for MBAs interested in market trends and strategy within the industry.
Switzerland has long been a leading market for and producer of luxury goods, from watches to cars to chocolates. The module brings in managers from several brands operating in the country to share their insights and run case studies.
In the second half of the programme, St Gallen's full-time MBAs have two-weeks of Industry Insights electives, one in each of four key Swiss industries: Banking and Financial Services, Manufacturing, Luxury Goods and Pharmaceuticals.
The intensive two-week module includes case-studies, workshops, break-out groups and brainstorming. The goal is to give MBAs a firm understanding of trends and strategy challenges, and to gain fiorsthand knowledge of how leading companies react to these challenges.
The Luxury Insights module, which took place in March, was delivered in partnership with Bain & Company, Italy; Porsche, Switzerland; Ernst & Young, Germany; and Omega Switzerland. Many St. Gallen MBA grads work in Switzerland or in neighbouring countries so it's easy to get them involved in the electives.
The experts presented on the various business cycles, history and challenges facing the luxury goods industry.
The team from consulting firm Bain & Company presented a worldwide luxury market study. They discussed the categories of luxury consumption, the complexity of luxury distribution, as well as highlighing how Asia remains the major growth engine in the global luxury goods market.
The Managing Director of Porsche, Switzerland, Stephan Altrichter, discussed the importance to the business of finding new talent. Porsche is the most profitable carmaker in the world, earning the most money per unit sold (around €22,000). In Altrichter's class the MBAs worked on a case study of the product launch of the new Porsche MACAN, set to be released later this year.
Omega Vice President of Marketing, Jean-Pascal Perret presented the class with a history of watchmaking, and the technology and designs used in the industry. He also discussed maintaning business ethics and being ambassadors of social responsibility.
Omega has been in the watchmaking industry since 1848 and can boast of being the makers of the first and only watch to have ever been on the moon. Omega is also the official timekeeper of the Olympics!
The final company present at the St. Gallen Luxury Goods Insights was from professional services firm Ernst &Young. Partner Florian Huber lead a class on "Luxury from a Producer's Perspective," while also presenting marketing models based on place, promotion, product and price.
Read more stories about students, alumni and programs at St. Gallen, here
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