NYU Stern Launches 1-year MBA Program on Fashion & Luxury

NYU’s Stern School of Business has announced a new Fashion and Luxury 1-year full-time MBA program for those seeking a career in the upper level and management positions within the fashion industry.

Stated to be the first of its kind in the United States, the program will start in May 2018. The deadline for submitting application forms is November 15 this year.

Experimental Learning Projects

Students will need to complete the 51 credit curriculum that has, besides the usual Business core subjects, a Fashion & Luxury Core and experimental learning projects.

The Business Core subjects are Leadership, Economics, Strategy, Marketing, Corporate Finance, Business Communication, Statistics, Financial Planning & Analysis and Professional & Corporate Social Responsibility.

“Tapping into NYU Stern’s location in the heart of the global business ecosystem, Stern Solutions brings students and faculty together with industry leading companies to solve real business challenges in real time,” the School says on its website.

The Fashion & Luxury Core has Retail Analytics, Consumer Behaviour, Retail Strategy, E-Commerce Strategy, Retail Operations & Merchandising, Pricing, Luxury Marketing and Next Gen Fashion.

Stern Solutions

Students have to work on Stern Solutions projects each semester alongside their core coursework. Projects are required, for credit and also provide students with the opportunity to solve a range of real-world problems at the intersection of fashion, luxury, and business. They may work with consultants for fashion designers and provide statistical analysis for fashion designers.

“Tapping into NYU Stern’s location in the heart of the global business ecosystem, Stern Solutions brings students and faculty together with industry leading companies to solve real business challenges in real time,” the School says on its website.

Stern Solutions experiences are built into every aspect of the Fashion & Luxury MBA curriculum to help students build a portfolio of skill sets, relationships, and experiences and serve as the foundation for successful careers.

The projects will include special visits to factories, retailers and PR firms. Stern will host a number of guest lectures and events by prominent figures in the fashion industry. Students will work on multiple real-world projects with designers and brands of all sizes. Examples include consulting for a fashion designer and working with an established company on a retail analysis.

Program Schedule

The Fashion & Luxury MBA program begins in May with students taking up the Business Core, Fashion & Luxury Core and Stern Solutions NYC Immersion during the Summer semester. The students will beef up their industry lexicon and business intuition through this immersion-style course. From company visits to client management tools to a live case with a real industry partner, students will emerge from the summer with necessary tools to maximise their industry expertise, the School says.

In Fall, they deal with Fashion & Luxury Core, Electives and Stern Solutions Project. Winter will be devoted to Stern Solutions International Immersion. Over two weeks in January, students will travel to a global hub for high fashion and luxury industries. They will learn in the classroom from expert professors and speakers and in the field through visits to fashion designers, factories, and luxury companies.

NYU Stern’s long-standing partnership with the Council of Fashion Designers of America (CFDA) would allow students to move beyond the case study and work closely with designers in NYC’s fashion industry.

Spring will see them once again deal with Fashion & Luxury Core, Electives and Stern Solutions Project. “Drawing from businesses in our own backyard and long-standing relationships between NYU Stern and the fashion industry, the NYU Stern Fashion Lab will serve as a central hub for industry-related projects and networking,” the School says.

Fees & Other Expenses

The Estimated Tuition and Registration Fees amount to $96,000. Estimated Living expenses will be: Room & Board (summer $5,600/winter $25,170), Books & Supplies (summer $495/winter $1,980), Local Travel (summer $233/winter $1,050), Miscellaneous (summer $1,000/winter $8,668), Loan Fees (summer $109/winter $218). Estimated Total Living Expenses in summer will be $7,437 and winter $37,086.

While registration and orientation fees are included, travel costs for international immersion will have to be paid separately.

Merit-based scholarships, loans, graduate fellowships and other forms of financial aid will be available to the students. The majority of scholarships are awarded at the time of admission, the School said.(Image Source:wikipedia.org)