Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 279

Australian University Looks to Growing Chinese Market

Posted by fidest press agency su venerdì, 13 dicembre 2019

University of Wollongong in Dubai (UOWD), the first international university and highest ranked Australian university in the UAE, today announced the launch of a new Masters’ degree – Global Executive Master in Luxury Management (GEMLux). Created in partnership with the prestigious Italian business school, Politecnico di Milano’s Graduate School of Business (MIP), the degree is designed to help meet the growing demand for highly-skilled professionals in the luxury sector, and focuses on implementing best-in-class managerial practices in the luxury goods and services segments.The luxury goods and services market is valued at US$1.35 trillion globally, and is predicted to expand by up to 5 percent annually in the coming years, according to Bain & Company. China, in particular, is one of the biggest contributors to this market, with Chinese consumers accounting for about 33 percent of all luxury purchases in the world last year. This figure is expected to rise to 44 percent by 2025, and is further boosted by Chinese luxury spending while abroad.According to the China Tourism Academy, affluent Chinese tourists are the world’s top luxury consumers, taking 130 million trips per year and spending upwards of US$274 billion – signaling a lucrative opportunity for qualified Chinese professionals in the luxury goods, services and experiences space to leverage, both within the Chinese mainland and across international markets.To be offered in UOWD’s campus in Dubai from March 2020, the dual-degree is designed to empower professionals to evolve as luxury brand managers, fashion retail buyers, PR specialists, creative directors, brand ambassadors and visual merchandising executives.As part of the four-semester curriculum, students will travel to prominent luxury shopping and fashion capitals including Dubai, Milan, Geneva and Paris to participate in factory tours, as well as visit the headquarters of luxury brands, exhibitions and industry fairs while gaining exposure to game changers in the luxury retail industry.

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