Does anyone have any thoughts or advice about working in luxury goods? Any general advice would be great...I also have a question specific to my own career path
I'm interested in the corporate structure of luxury goods companies and how one gets to a management level - I'm gathering marketing isn't the best route although it seems to have the most interesting entry level jobs. I have work experience in marketing in a related field and through that I know someone at one of the companies I'd like to work for which is a good start...but I'm worried that that might limit progression in the long term.
I guess my main question is which areas (available to graduates) are the most influential? I'm still a little mystified by what each division within the company does - can anyone recommend some general reading on the subject?
Back to my situation: which of the following options (all current possibilities after a LOT of networking!) would create the best career in the long term?
1. entering my ideal company as marketing assistant after graduating from uni
2. business position at a high-end fashion house - still don't know which area I should express an interest in
3. business position at huge energy company - as above; I can request to work in any area
4. finance - I think corporate finance would be ideal, but (considering the level of competition) realistically I'll be looking at wealth management roles because I'm far better suited to them
5. L'Oreal graduate programme - I would absolutely love to work for L'Oreal!! but the grad scheme is so competitive that despite knowing a lot about the beauty industry I can't expect anything
I'm currently strongly geared towards finance as wealth management would actually be a great career instead of luxury goods and I want to establish my financial independence ASAP and banking...well... But I do worry that it's the least impressive area should one move out of finance unlike something like M&A which would suggest great business understanding.
but I don't want to abandon my dreams of champagne and diamonds and very very expensive leather accessories....
Luxury goods careers: I need some advice! Watch
- Thread Starter
Last edited by FkatF; 11-12-2010 at 22:15.
- 11-12-2010 22:14
- 12-12-2010 00:02
All those jobs are VERY competitive.
L'Oreal, when I interviewed with them last year had 1,000 applicants for around 30 places on the marketing grad scheme. Assessment Centres were very very competitive and the final round was quite tough as well. They are very focused on getting the right 'fit' in terms of candidate so they really are hot on their staff being well groomed and all that bs.
Fashion houses are extremely competitive I worked with Vogue House on a major conference a few years ago and the numbers are very low.
I'd argue wealth management is even more competitive than M&A purely b/c the headcount is VERY VERY low i.e Deutsche Bank only took 2 people onto the grad scheme last year. But places like Barclays Wealth take a bigger cohort. Again its very tough but you can transition into fashion esp if you work with retail clients etc.
In all cases, networking will work but it takes a long time to develop relationships with people. Drop me a line if you need any more questions answered on this.
Gucci hire ALOT of ex-GS/MS bankers into corp strategy or McK consultants.