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Choosing Between the Two-Year and the Fashion & Luxury MBA

 

 

 

 

 

 

 

 

 

 

 

Cecilia Marmolejos is a current Fashion and Luxury MBA student, specializing in Luxury Marketing. Prior to Stern, Cecilia worked at Wayfair as a Site merchandiser, and as a merchant. Post-MBA, she plans to pursue a career in brand management. At Stern, she is involved in the luxury retail club, and Stern Women in Business. 

Deciding which MBA program to pursue is a big decision, especially with unique offerings like NYU Stern’s one-year Fashion & Luxury MBA. After I had decided to pursue an MBA, I began my research, looking into top schools across the country. One thing I knew for sure was that I wanted to go to a school that helped me break into the beauty and fashion industry. Out of all the schools I looked at, NYU Stern had the best network in that area due to the Fashion and Luxury program. In addition to the strong network, NYU also had such passionate and welcoming students. I spoke to several alumni, in addition to current students at the time, all of whom expressed a deep appreciation for the NYU community. It became clear that NYU would give me the opportunity to receive an incredible education, and also expose me to incredible people and opportunities in beauty and fashion with the Fashion and Luxury MBA. 

While doing my research, I also came to realize there were a number of differences between our program and the traditional, two-year MBA program. The Fashion and Luxury program is unique, with NYU being one of the first schools to design this new type of MBA program. The Fashion and Luxury MBA is a focused one-year program, running from May to May. In addition to the timeline, there are several elements in which the Fashion and Luxury program differs from the 2 year MBA program, which I have outlined below. The one-year is specifically designed to expose students to core business principles, while also immersing students in the world of luxury and retail. 

Community

Other than timing, I believe one of the main components that makes the Fashion and Luxury program unique is the close knit community that NYU fosters. Our cohort this year is 23 people, whom I have had the pleasure of getting to know very well over the last 7 months. We all share a passion for the retail and luxury industry, and have been able to attend different fashion and beauty events, plan trips and share insights on the industry. I have met some incredible people, with a variety of different backgrounds, skills, and experiences, which have been able to help me advance inside and outside of the classroom. 

Curriculum

In addition to the community that this program builds, the Fashion and Luxury MBA allows students the opportunity to take courses that genuinely interest them. During this program, I have been able to take core business classes that are tweaked to incorporate language from the fashion and luxury industry. The marketing class taken during the summer semester was a great example of this – the class was made of just Fashion and Luxury students, and we were able to review cases that focused on different retail companies. We were able to have meaningful conversations, and hear not only from the professor, but I was able to learn from my classmates. One of the cases that I really enjoyed reading during Marketing was the Dolce & Gabbana case. We learned about the missteps D&G took as a brand, and how an insensitive campaign they launched impacted their sales and growth in Asia. This case sparked great conversation, and a number of my classmates shared their insights and opinions on D&G’s PR nightmare. 

Networking Opportunities

Lastly, the Fashion and Luxury MBA differs due to the variety of networking opportunities that exist. The program has a series of courses called Stern Solutions courses, which involve a number of interactive components, including different panel discussions with various industry executives, corporate presentations from various professionals, and lastly, guest lectures from experts. This course was offered exclusively to Fashion and Luxury students in the summer, and was offered to both my cohort and Full-time MBA students and in the fall. These courses expose you to different topics within the industry, and allow you to network with professionals from different areas. A speaker that comes to mind that the class really enjoyed was Lillian Tung, the owner of the wellness company Fur. She shared her story discussing how she founded the company, what it took to build her business with a partner, and engaged in a Q&A session with the class. A number of students, including myself, are interested in entrepreneurship, and this was a great opportunity to learn more about creating a business, and the difficulties associated with raising capital, and dealing with investors. 

Overall, the Fashion and Luxury MBA program gives students the opportunity to gain an MBA, while specializing in a specific industry. It has been an incredible experience, and I am excited to continue to see what comes from the remainder of the program.  

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Networking with Alumni & Current Students

Cindy Wang is a current Fashion & Luxury MBA student, specializing in Luxury Marketing, Business Analytics, and Strategy. Prior to Stern, she was at Tiffany & Co. as the Jewelry Supply Chain Analyst for the High Jewelry, Diamond Collections side for the last 3 years. This role solidified her interest and aspiration to continue in the luxury & retail industry.

 

 

 

Network. Network. Network. This is probably something we’ve all heard about and have ingrained in our brains ever since undergrad. I’m sure with our extensive research of business schools, we agree with the general consensus that B School is all about networking (and the memories and new friends, of course). Located in NYC, a retail and luxury capital, I knew that Stern would, no doubt, expand my professional network to build lasting relationships with alumni and industry experts.

Alumni

The alumni network at Stern is INCREDIBLE. Just one semester in, and I’ve already met a myriad of alumni who have such interesting career paths. From the CFO of Bonobos to a Senior Manager at Accenture, our Immersion classes have been nothing short of amazing for building new connections. The process of networking is more organic and less daunting thanks to these Stern created experiences. The interactions between the alumni guest speakers and my classmates spark up interesting perspectives and allow us to have intellectual and fun conversations!

After each guest speaker, I usually connect with them on LinkedIn to build my network. They are all quick to connect and are very open to speak with you about their time at Stern and their career paths. I’ve scheduled meetings to speak with the alumni and they were all generous with their time and open to speaking more about the industry as well as school and career trajectories. They are always so intrigued with our program since it’s relatively new so it’s definitely a great conversation starter!

Our cohort was also able to set up an event with the last cohort at The Metropolitan Museum of Art. It was super fun to all get together to visit the Costume Institute Exhibits and hang out on the rooftop. This was such a great way to meet the alumni who graduated just before we started and to get their perceptions of the program, as well as any tips and tricks they could share with us. I would highly suggest reaching out to the program’s past cohorts to set up an event and get to know each other!

Current Students

My cohort is incredibly talented. They come from diverse backgrounds and each of them brings a unique perspective to our classroom discussions. We’ve spent the last 3 months together everyday and I am constantly learning something new. We have people from consulting, editorial, and finance backgrounds, and it’s been so fascinating to learn what each person did in their previous roles. 

I’ve gained so much more insight into the fashion and luxury industry since joining the program and a large part of it comes from my classmates.  My cohort is one of the best resources; whether it is setting up time to speak about their career or introducing me to a coworker, my classmates have offered support and opened me to more networking opportunities beyond what I imagined.

Stern will help you embrace networking–your first semester will be figuring out how to connect and learn from alumni and your classmates, but you’ll be an expert in no time! With so many opportunities to foster a natural relationship with people, Stern offers an environment of open communication and excitement through these connections. Through this supportive program, you will meet the best of the best and everyone is willing to get to know you and just have an open conversation!

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Unparalleled Exposure to Industry Execs

Ana Laura Aguiar is a Fashion & Luxury MBA Candidate, specializing in Luxury Marketing, Strategy and Management. Ana Laura holds a BA in Fashion Design from the Istituto Europeo di Design Rome and has over eight years of experience in the fashion industry.

 

 

 

 

Learning to Network

Networking really seems to be the golden rule for a successful MBA program. However, “networking”, or “cold calling” can feel overwhelming for some of us, and I, personally, was wary of how to even start reaching out to people. Last year, alumni were advising us to have at least one coffee chat every two weeks, and during orientation we were already working on our elevator pitches. It all seemed extremely complicated, but here comes one of the most amazing things about the Fashion & Luxury program —they bring the industry to you!

From our very first day at Stern, we were immediately introduced to powerhouses in the fashion and beauty industries. I remember how exhausted I was coming home after a cocktail hour where we met the NYU Fashion & Luxury Council —these people were SO interesting, you went out of your way to speak to and learn about as many people as you possibly could. Immediately after that, when classes started, we continued to be introduced to panelists, speakers and lecturers working in our dream brands or holding our dream positions. From luxury to fashion, from marketing to buying, we were exposed to different paths, opinions, and points of view. 

C-Suite Mentorship

The mentorship through the council is a unique advantage of Stern. We were each assigned a mentor, and they were each assigned one mentee, which meant they were willing to give us all the attention we needed and to really go that extra mile to connect us with their own precious networks. My peers and I have been getting all kinds of advice from our mentors, from what career path to choose to what companies they recommend we apply to post-graduation. Getting this close and having these casual conversations with VPs, C-suite or multi-hyphenate fashion experts is an experience I had not personally ever had before.

Constant Exposure

One day, I was late to my afternoon class. I am honestly never late, but because of an allergy problem, I came in rushing to my last Accounting class of the semester. I walked into Stern and made my way to room 1-70. In front of me was my Accounting professor and another Italian man. Professor Bonacchi heard my shoes clacking on the floor and looked back, he stopped, and said “This is Ana Laura, she is Brazilian but speaks perfect Italian! She is a strong candidate for you!” That’s when I realized I was being personally introduced to the CFO of the second biggest luxury brand in the world, who happened to be the guest speaker that day. This may be a silly example, but I want to illustrate that these opportunities really come to you at Stern, and not only in conventional ways. I reached out to him, and have since spoken to his HR representative in North America.

Now, I don’t mean to say it isn’t hard work or that everything is handed to you on a silver platter, but in terms of industry exposure, this program really does make meeting and networking with industry professionals as easy as it can be. Through panels and company visits, projects where you directly work with amazing brands, professors and other Stern employees, and even through your own cohort and their extensive network, the industry is at your fingertips when you’re a Fashion & Luxury MBA student at Stern.

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Access to New York

After graduating from NYU for undergrad, Amy Lore began her career in fashion editorial working at Seventeen, Marie Claire, and ELLE Magazines before becoming the Fashion Editor at Glamour for five years. She then transitioned to lead brand partnerships across retail, DTC, and CPG companies for four years before joining the NYU Stern Fashion & Luxury Class of 2023, where she is Co-Class President and member of the Stern Women in Business and Luxury & Retail clubs. 2022 marks Amy’s tenth year living in New York City! 

As someone who attended NYU for both undergrad and grad school, I will be the first to wax poetic about the incredible access to New York that attending NYU provides. There is no doubt that New York is a hub for almost all industries – but for those interested in fashion, there is truly no better place to be! 

When I was in undergrad, I was able to supplement my studies by gaining invaluable experience interning during my junior and senior years; on days I had class in the morning, I would hop on the R train from 8th Street, hop off on 57th Street, and begin my internship at Hearst in the afternoons. The internships I had and the connections I made while I was an undergrad led to a full-time offer at my dream job just two weeks after graduation. 

Now that I am in grad school for my MBA, the ability to expand my network in-person by attending industry events, meeting for a coffee chat in between classes, and visiting the offices and showrooms of the world’s most esteemed fashion companies has been critical to my experience. Nowadays, we are lucky to have Zoom, but nothing beats being able to shake someone’s hand and create a personal connection. Because of the advantages I gained from living and studying in New York for my undergrad, I only applied to NYU’s Fashion & Luxury MBA program, knowing that for my specific goals, being in New York would be crucial. 

Professional development is just one of the privileges of being in New York – the incredible like-minded and ambitious people I have met outside of my industry constantly inspire me. The energy from being among the best and brightest individuals in the world is unmatched and, I am constantly learning new things and being exposed to new ideas. 

Lastly, there is no argument needed for the culture, social life, and convenience that being in New York brings. I mean, I watched Hamilton on Broadway last week for the third time (yes, I am a Hamilfan). From the unbelievable access to the arts, the world’s best shopping, the nightlife, to Thai food delivery to your couch, New York has so much to offer. 

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Community in the Fashion & Luxury MBA

*NYU Stern’s Fashion & Luxury MBA program was renamed to the Luxury & Retail MBA program.*

Jennifer Rice comes to NYU Stern with over six years of experience as a Design Director in sustainability and performance brands. After working as a designer for shoes and ready-to-wear at Zero + Maria Cornejo, she went on to start up her own consulting company in 2021, aligning new and established brands with partners across the east coast for brand development and production services. Jennifer is currently recruiting for Management Consulting roles and is an active member of SWIB, SISA, MCA, and Gridiron. Aside from work and school, Jennifer enjoys training for half marathons and watching Love Island.

As I climbed the famous Stern stairs on my first day of orientation, my hands were perspiring, and my mind was going a mile a minute. Filled with “what ifs,” I realized I was terrified of this new unknown I was entering. Though I prepared to get into Stern, with all the resume edits, recommendation letters, and GMAT studying, I never “prepared” for the moment I would begin my business school experience. I continued to panic inside my mind, until Joey, who would become a close friend of mine, walked right up to me on day 1 and couldn’t have been kinder and more relatable. I could feel my shakes subside as we discussed our previous careers and airline preferences. I was making my first B-school friend!

This experience I just described continued 22 more times that day and the next during orientation. It gave me comfort to realize we were, as High School Musical states “all in this together.” I can confidently say I was blown away by, and comfortable with this cohort by the time our LAUNCH orientation was completed. 

What was even more incredible was the bond we all created during the next few months of our first semester. From birthdays at TAO, to summer potluck rooftop dinners, and late-night zoom study sessions, your cohort becomes, as we’ve called it, FLUX Fam. Not understanding Statistics? You’ll have an entire army behind you ready to teach you covariance until you could lecture on it. Nervous about public speaking? You’ll receive podcasts to help boost your confidence and individuals ready to practice with you. Beyond the academic help, your fellow students will support you through life changes as well. Whether it’s a breakup, an engagement, or COVID finally knocking at your door, this group will be there with care packages and hugs (virtually, of course, if it’s COVID!). 

If you’re reading this blog post, you’re most likely familiar with all the top B-schools marketing their students’ emotional intelligence acuity. During my application process, I took it with a grain of salt. But it’s true – I never experienced this level of support and high emotional intelligence in a community prior to Stern. Being a business school student and a child who set booby traps to discover Santa Claus wasn’t real at 5 years old, I had to investigate why EQ was more than a marketing tactic at Stern. From getting to know all my fellow students in the program, we noticed we had a lot of niche aspects in common. 

  1. Empathy: we all have an exorbitantly high level of empathy for others, the majority reported this was due to life experiences. You’ll learn from your fellow students how they overcame tribulations in their life through the many conversations and late night studying during your time at Stern. 
  2. Investigative/Thinkers: When I say I learn more from my fellow students than the professors themselves, this is not to undermine the incredible education and facetime you receive with the world’s leaders who teach us. The students, though, will ask the questions you never knew to ask or even think! Your perspective on topics and concepts will quite literally expand during your time here. Pretty soon, you’ll also begin to emulate this.
  3. Diverse: In every sense of the word. Different backgrounds, upbringings, tribulations, and successes have filled this 23 student cohort. Every conversation results in a new immeasurable point of view. This aspect alone has sprouted a learning environment far beyond the classroom. . One genius professor at Stern, Dr. Jared Watson, introduced us to the Kruger-Dunning Effect: a cognitive bias in which people wrongly overestimate their knowledge or ability in a specific area. Aka, the more you know, the less your ego is on the matter. This holds true for our group, we all learn from each other, ego removed. It has resulted in incredible conversations and bonding experiences.
  4. Wise: I struggled on how to phrase this one, as I don’t mean wise as in the old man in a rocking chair sharing advice. I mean – wise in the sense that these individuals understand they have so much to learn from others, and they want to share their experiences with you to help you grow..

The community in the Fashion & Luxury MBA program has given me a network of brilliant people, future leaders, and forever friends. 

Good luck and I look forward to meeting you on Campus!

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The Difference of a One Year MBA

 

Joey Rudee is a current Fashion & Luxury MBA student specializing in Luxury Marketing, Strategy, and Business & Law. Prior to Stern, Joey worked at Nordstrom in Seattle, WA where he supported Corporate Financial Planning & Analysis and Investor Relations. Outside of work and school, Joey is an avid chef and tea drinker, amateur interior designer and event planner, and enthusiastic math tutor. 

To be honest, trying to decide what type of MBA to apply for was a challenge for me. 

On one hand, everyone I knew was doing a two-year MBA, but that didn’t feel right to me. My pre-MBA career was progressing quickly, so putting it on pause for two years felt daunting. Further, I am committed to remaining in the fashion and luxury industry, so it didn’t feel necessary to enhance my resume with a summer internship. 

 On the other hand, a part-time MBA didn’t feel right for me either. I loved that it would afford me the opportunity to continue to work and advance my career, but I knew I wanted a fully immersive experience where I could learn and build my network.

 But then I discovered Stern’s one-year focused MBAs, which gave me the opportunity of both rejoining the fashion industry quickly and a fully immersive experience, without having to compromise on my career progression, since I’d only be out of the workforce for a year. With our Stern Solutions projects, I still gain relevant and diverse industry experience while earning my MBA and making a real difference at the companies with which we work. And in a one-year program, I’m able to focus all my attention on school, building relationships, and personal growth. 

 What I didn’t realize when selecting a one-year MBA was that, more than anything else, the biggest benefit of a program like this is the people. Committing to going back to school to get your MBA takes a certain kind of person (and if you’re reading this, you’re that kind of person!), but it attracts an even more dedicated and driven person to choose to do it in one year. Every day I am impressed by my cohort. Each person is individually committed to their own personal growth and equally committed to the growth of their peers. We are universally confident in our interest in fashion and luxury, devoted to progressing our careers quickly, and enthusiastic about driving positive change within the industry, which creates a sense of community and comradery that is unmatched. While we all come from different professional backgrounds, our skill sets complement each other perfectly. Through sharing our unique perspectives and experiences, we are able to learn just as much from each other as we do from our professors. 

 After completing the  first semester, I can confidently say that choosing a one-year MBA was the right decision for me. I know I will get more out of this program than I would have in any other. I know that I will be able to launch back into my career right after graduation with more relevant experience and skills than imaginable. And I know that my classmates will be the ones who are leading this industry into the future. 

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Immersion Programming in the Fashion & Luxury MBA

Katelyn Vu is a Fashion & Luxury MBA candidate, specializing in Luxury Marketing and Strategy. Prior to Stern, she worked at Neo Media World (WPP) as a Marketing Manager. Katelyn has 5+ years of experience in digital advertising and strategy, partnering with EssilorLuxottica, Amazon, Sony and a variety of tech companies.

Our first semester has officially come to an end. What an exciting but intense summer! I never imagined watching a fashion show in business school, but we did. Our first NYC Immersion class started with a short clip of the Louis Vuitton 2023 Cruise Fashion Show. We, then, progressed to discuss the evolution of luxury and the marketplace through time. Throughout the course, we had the opportunity to learn about the “business of fashion”. The interactive course covered the history of retail, retail landscape & strategy, fashion business models, as well as entrepreneurship and sustainability in luxury. We had the chance to meet executives from top fashion and luxury brands in NYC through the NYU Fashion & Luxury Council to understand more about the industry and to explore potential career paths.

Below are some highlights from our first Fashion & Luxury NYC Immersion class:

 

F&L students at Estee Lauder Companies HQ

Company Visit: Watches of Switzerland 

We were joined by WOS executives at their US Flagship store in SoHo, where they gave us an overview of the luxury watches industry from a multi-brand retail perspective.


Company Visit: M.M. LaFleur

M.M. LaFleur Founder and CEO, Sarah LaFleur, shared her experience from a management consultant to starting a multi-million DTC company.

Company Visit: Panerai

We had the opportunity to visit the Panerai NA office and learned about how the company pioneered and promoted sustainable practices through its commitment to sustainability and healthy oceans, as well as its environmental outreach initiatives to educate the public.

F&L students visiting the Costume Institute Exhibits at the MET and mingling with alumni

F&L students getting coffee at Ralph’s Coffee after visiting Ralph Lauren

My favorite part of the NYC Immersion course would have to be the consulting project with Estee Lauder Companies. As a group, we performed market research and competitive analysis for our assigned brands to understand their key consumers’ shopping behaviors and digital usage. We learned to work in teams and presented our findings and recommendations to brand executives at the end of the semester. This project was very fulfilling and eye-opening for someone like me who is not from a traditional fashion background. 

Final Presentation Day at Estee Lauder Companies

We only have one semester under our belt, and have already had the opportunity to work with so many incredible industry leaders. The NYC Immersions have been instrumental in our learning so far, and I look forward to the experiences we will have throughout the rest of the year.

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Tips for Prospective Fashion & Luxury MBA Candidates

*NYU Stern’s Fashion & Luxury MBA program was renamed to the Luxury & Retail MBA program.*

Laura Laufer is a current Fashion & Luxury MBA student, specializing in  Luxury Marketing and Strategy. Prior to Stern, she worked at Saks Off Fifth in New York where she was working in the Buying & Planning for Fine Jewelry & Watches. Laura is passionate about data-driven decision making, the convergence of beauty and science, and innovative business practices.

It’s no secret that the MBA admissions process can be a bit intimidating. Right around this time last year, I was beginning my own journey. It’s a lot – the paperwork, the transcripts, the essay, the Pick 6. How can one possibly summarize 20+ years of education, thousands of hours of work experience, and decades worth of monumental life achievements in 150 words or less? Yeah, it’s daunting. 

Fast forward a full year later and a semester of business school officially in the books – I can confidently say that the application process is less about presenting yourself as the candidate you think admissions officers want to see, and more about presenting yourself authentically, proudly, and convincingly. Joining the Stern community has taught me that compassion weighs just as strongly as intelligence, and that asking questions makes you look wise, not weak.

That being said, here are ten tips I wish I knew when I was applying to business school: 

  1. Do your research & attend coffee chats – choosing the right MBA program for you is difficult. There are millions of factors to consider – location, class size, general vs specific programs, alumni networks, etc. If you choose to apply to the NYU Stern Fashion & Luxury MBA program, you should be prepared to explain why this program is right for you, and what you seek to get out of this very specific MBA experience. Joining NYU-hosted coffee chats is a great way to get a feel for the student body and an understanding of what the program has to offer. I attended four coffee chats last fall before submitting my application, and I learned something new in all of them!
  2. Have a vision – you don’t have to know everything, but you should have an understanding of what it is that you’re good at, what makes you happy, and what inspires you. This will help shape your questions in coffee chats, will explain why you’re targeting an MBA in the first place, and will guide your future career aspirations.
  3. Ask questions! – it’s almost annoying how often people tell you to ask questions. I’ve been there, trust me. But this is your moment to be curious, and you should capitalize upon that. After all, you’re putting your career on hold for a year, and investing in this degree. You should be as informed as you can be. No question is a stupid question!
  4. Don’t be afraid to be vulnerable – this goes hand-in-hand with asking questions. It’s okay if you don’t know what your dream job is after you graduate. You’re here to learn, to figure out what you’re good at, and to start over. If you had all the answers, you wouldn’t  be pursuing your MBA.
  5. Be your authentic self – I can’t stress this point enough. Showing up authentically is your biggest asset. A lot of people out there have impressive resumes, but none of them have your same story to tell. Be proud of your story and own your background.
  6. Focus less on what you think the admissions team will want to see, and more on what your proudest version of yourself looks like – NYU is really good at bringing diverse individuals together to create a greater community. You’re applying to get your MBA because you want to improve yourself and further your education – therefore, you’ve already proven that you’re ambitious. Speak to the moments you’re proud of, whether they’re work-related or not. What you deem to be noteworthy about yourself sheds a lot of light on who you are.
  7. What’s in it for you? While you don’t have to know what your dream job is post- MBA, you should have a fundamental understanding of why you want to be here. Is it to develop your leadership skills? Is it to practice your soft skills? Is it to join a network of esteemed professionals in New York City? Whatever it may be, you should know what you want to get out of this program before you start.
  8. What’s in it for them? As I’m sure you’ve realized in your research about NYU’s ideals, NYU cares a lot about their community and their identity. Every single student, faculty, and staff member adds to the NYU community in some way. Think about your admissions decision from Stern’s point of view. Do you add value to the NYU Stern community? Are you going to be the type of student that tries to outrank their peers, or the type of student who works well in groups? Understand what you can individually bring to the NYU Stern community, and emphasize that in your application.
  9. Be organized – There’s a lot to keep track of when applying to business school. Make sure you stay on top of your deadlines, paperwork, and letters of recommendation. Your application will be weaker without all components delivered in a timely manner.
  10. Sleep while you can! This is more applicable for the post-admissions portion of the process. Once you actually get into the MBA program, you’ll wish you would have rested during the time leading up to your first semester. Things will get intense (in a good way!) so sleep while you can 🙂

Good luck!