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7 Tips for Incoming Stern Fashion & Luxury MBAs

Whether you’re considering applying, you’ve just been accepted, or you’re just about to start your MBA experience at Stern, you’re likely wondering, “where do I start?” when it comes to preparing for this new, exciting challenge.

Having been in your shoes a short while ago, I’ve gathered some tips I found helpful, plus some things I wish I knew before the first day of orientation!

1. Go shopping. You’re in the fashion and luxury MBA program! Visit stores, talk to sales associates, and get a feel for what’s happening around you in retail. While you don’t have to buy anything, you will want to know what’s happening in stores. Continue this practice well into school, popping into shops before or after class. Thankfully, Stern is conveniently located just north of SoHo.

2. Get your annual doctors’ appointments out of the way before school starts. Not only will appointments be hard to schedule among classes, group projects, internships, and events, but you’ll also want to spend every “free” minute being totally free (i.e. traveling the world, not traveling back home to get your eyes checked). Plus, if you ultimately have to sign up for student health insurance, you can ensure your annual check-ups are with your doctors while you’re still in-network.

3. Set up one-to-ones with everyone in your cohort. I wish I had done this much earlier, but COVID restricted the feasibility of doing so. Make an effort to reach out individually to each person, set up a walk, a coffee, or a happy hour drink and get to know them! If you want to be an executive one day, you’ll need to know how to build relationships and work with everyone, not just your friends.

4. If you’re able, take time off. At least a week. Relax, reset, and gear up to be super busy. Knock the things off your to-do list and treat yourself to the things you’ve been wanting to do, but haven’t had time to do. For me, that was reading books, visiting The Met, and trying out restaurants on my “to visit” list.

Leisure reading, “just for fun” museum visits, and drinks with friends before school started.

5. Google Calendar will be your BFF, so start using it and referring to it now. Be smart and add dates from all of Stern’s emails to it too. Your future self will thank you.

6. Sign up for events and classes that sound a little scary and out of your comfort zone. The journey you’re about to embark on is meant to challenge you and change you. Seek out and embrace new experiences with new people. Chances are, you know more than you think you do, and you’ll learn something along the way. Plus, school is meant for making mistakes. While you may fear you’ll sound dumb, it’s better to get mistakes out of the way through practice before you do it at your next gig. 

The leadership event planned for Saturday morning? Or the class requiring multiple presentations? Sure, they sound annoying, and maybe a little terrifying, but they’ll help you push your boundaries and become a stronger professional.

7. Clubs are a great way to meet fun people and do fun things. But remember: this program is fast-paced and intense. While you’ll have time for club membership and activities, don’t feel pressured to take on a leadership role. Likely, you’ll stretch yourself a little too thin for only three words on your resume. Most alumni advise, “a club leadership position is not worth your time given the nature of this program.”

Of course, you’ll find what works for you, but keep these tips in mind as you prepare for the Fashion & Luxury MBA at Stern. You’re taking an incredible and exciting next step in your career path – embrace it!

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Mastering the Art of the Coffee Chat

Hoping to transition into the fashion industry and luxury sector, I knew Stern would set me up with the right connections to pivot successfully. Beyond the skills and industry-specific knowledge taught in classes, Stern offered a chance to regularly speak and build relationships with industry experts. In fact, Stern reminds students to set up coffee chats every chance they get!

Ahead of detailing how Stern makes these connections happen, a brief confession: before coming to Stern, “coffee chat” personally conjured an image of an often awkward conversation and was perhaps, I thought, the most “I’m Getting My MBA & Need A Job” phrase one could possibly utter. A coffee chat, or informational interview, was not something I was looking forward to doing as often as Stern recommended.

Now, however, I love a good coffee chat, and I even aim to have two or three on my calendar each week. I can thank Stern for the change in attitude. Each person I’ve reached out to – from professors to fellow students, from alumni to industry leaders – replies with enthusiasm, eager to share their experiences and offer a word of advice.

Here’s how Stern’s network showed me the importance – and the joy! – of informational interviews:

Classes, Classmates, & Professors

Many of the aforementioned connections in the Fashion & Luxury MBA are built into our classroom experiences, providing a natural channel to reaching out for a one-to-one conversation. From speakers in our Solutions course to my own classmates, I’ve been able to hear and discuss different job functions, brands, and ideas with a breadth of people. A few examples:

  • Early in the semester, I sent a LinkedIn request to a Stern alum, now working for Ralph Lauren, after she spoke to our Solutions class. Not only did she quickly accept my connection, but she offered time out of her calendar to speak – unprompted!
  • Stern professors are well-connected and take joy in connecting their students with their acquaintances. After reaching out to a professor with a question on a project, I was promptly connected by him to his friend, an expert in the area I was researching.

Stern Network

A few weeks into school, we were introduced to the Stern Network, Stern’s internal LinkedIn/Facebook for alumni. Within the platform, users can browse and connect with current students and alumni, narrowing searches by job function, company, industry, location, and more. Once set up on the Stern Network, users work through a tutorial on best practices for requesting and conducting an informational interview. As part of the tutorial, users are required to search for alumni and connect with them.

This requirement led me to an alum at Estee Lauder. Less than ten minutes after sending an introductory message within Stern Network’s platform, they had already replied, offered their time, and we secured a meeting the following week to chat for thirty minutes. This one conversation led to two more coffee chats with folks at Estee Lauder, each recommending I talk to one of their colleagues to learn more.

Thanks to the Stern Network, I got an in-depth look at one of my target companies through multiple different people and conversations.

Mentors

Stern actively connects its students with experts outside of the classroom, too, teeing up these connections as mentorships. So far, I’ve been matched with three different mentors:

  • As part of our MBA program, we are matched with an industry expert on the Fashion & Luxury Council. Here, we’re able to express interest in leaders from fashion, beauty, luxury, and more and get matched with one of these leaders to meet over the course of the program.
  • Upon starting at Stern, we were each paired with a Focused MBA Program Partner. Affectionately called our “buddy,” this mentor is a graduate of the Fashion & Luxury MBA and offers invaluable advice on classes, job searching, and more. I can best describe this mentorship as, “when you need me, I’m here.” I found my Program Partner super helpful in selecting electives and getting an overview on our professors.
  • After joining the Graduate Marketing Association, I enrolled in their mentorship program too. After filling out a brief survey focused on my goals, I was matched with a GMA alum, who also happened to be a FLUX grad! SWIB also offers a mentorship program. 

Events

Every day, there’s a different event to go to at Stern. Naturally, these events are a means of networking and seeking out my next coffee chat.

Recently, I attended an OCD event called “Cross-Class Connections.” Here, MBA 1s, MBA 2s, Focused MBAs and Langone students met in breakout rooms facilitated by OCD career coaches. Conveniently, when we were sharing our interests and goals, one of the students in my breakout room was taking a class focused on supply chain – a topic I had expressed interest in exploring. After the event, he connected me to his classmate who had experience in supply chain at a fashion brand. From there, I received recommendations on how to learn more about supply chain over the course of my time at Stern, both through classes and activities, like the Center for Sustainability and the Center for Business and Human Rights.

I also had the opportunity to listen in on a roundtable discussion at The Retail Hive’s Digital Luxury Week through Stern. The discussion was made up of eight fashion, beauty, and luxury experts, all of which I was connected with after the event. Within twenty-four hours after logging off Zoom, half of them had already replied offering their time to take the conversation further via an informational interview.

So, take it from me, as someone initially wary of the “how” aspect of networking at business school. Not only does Stern make it easy to connect with people, but they also foster an environment of openness and excitement to chat over a cup of virtual coffee.

Tips & Tricks

Like all things, practice makes perfect. After conducting many informational interviews over the past few months, I’ve not only grown more comfortable with coffee chats, but I’ve also found a few secrets to success:

  • Show up with genuine curiosity. Do your research and prepare questions ahead of time. While the conversation can go in any direction, you’ll be thankful you have a set of thoughts prepared to lead the discussion and get insights out of it. 
  • Make it research for your next assignment. During coffee chats, I often ask, “what’s one challenge your team is working through right now?” This way, I hear real-world problems companies face today. With this information in my back pocket, I can focus upcoming class projects on relevant issues to build out my portfolio for my eventual job search.
  • Be direct and specific. While it may seem polite to request a generic chat, I’ve had more success asking, “can I hear your thoughts on XYZ,” over “I’d love to set up some time to talk.” Suggest a specific time and place to keep the email ping-ponging to a minimum, saving the other person time.
  • Be human. Many of these chats are happening on Zoom, so don’t be afraid of moments of levity. Be yourself!
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What to Expect in Your First Few Weeks of Classes

When telling my colleagues, friends, and family about starting the Fashion & Luxury program at Stern, many warily said, “well, I’ll see you in a year!” I thought, “huh, is school really going to keep me that busy?” 

Three months in, the answer is yes.

In twelve weeks, our cohort completed six foundational courses, plus a week of orientation. This week, we’ll tuck one additional course, Economics, under our belts and also begin Finance. Looking back, I’m impressed by the number of papers, projects, and presentations we submitted, plus the amount of learning we’ve accomplished in a condensed timeframe.  

So far, I’m having trouble picking a favorite among our classes. 

In Leadership, we used case studies to understand decision-making and leading change, first with emotion, then followed by logic. Most memorably, groups pored over a case about race cars, tasked with the decision to race or not to race, knowing we risked an engine failure at a certain temperature on race day. Fast-forward: turns out the data and situation in the case were identical to the problem presented to engineers launching NASA’s Challenger. The takeaway? Always ask for all the data before making a critical decision, no matter the risk to reputation or reward, and know when to stop, regardless of investment or emotional attachment.

In Business Communications, we learned by doing, presenting multiple times per class, and simulating a group presentation to senior executives at a company (of our choice) facing a reputational risk. This short-but-snappy course quickly got us into shape, conditioning us on best practices in presentation-making, email-writing, and public speaking.

And then there was Accounting, my first 8am course ever. Despite my personal wariness at the beginning (I don’t do numbers before noon), Professor Bonacchi guided us expertly, using the process of producing and selling chocolate cakes to walk us through income statements. Furthermore, he knew when to take a step back, more than once commenting, “I see your eyes are like a branzino in the oven…let’s take a break!” Another highlight? The CFO of Gucci joined us as a guest speaker. 💁‍♀️ Suffice to say, I have many fond memories of Accounting.

In Statistics, we tackled real-world probability concepts, once dissecting an article about MBA salaries for a group paper. Here, we learned how to identify confounding and lurking variables, understand the importance of sample size, and interpret data given to us. I walked away from this course with not only new math skills, but also an appreciation for asking questions about the presentation of data.

In Marketing, we had guest speakers from Converse and Smart Design, plus examined cases about Sephora and direct-to-consumer brands. By the end, we were able to choose a brand and string together a complete customer journey based on our newfound marketing knowledge.

On top of these five foundational business courses, we simultaneously worked and learned in our NYC Immersion course. Unique to the Fashion and Luxury MBA program, this class placed us in front of industry experts and icons, plus allowed us to get our feet wet as MBA consultants at PVH and Perry Ellis International. If we’re playing favorites, this class was mine.

Highlights included…

  • Kicking off with a presentation from the CFO and COO at Bonobos, David Sasson, detailing the types of jobs and functions we can consider in the industry
  • Hearing from a panel of our program’s mentoring council, moderated by Professor Jeff Carr
  • Pitching brand ideas to Sarah LeFleur, founder and CEO at MM LaFleur
  • Listening to Fern Mallis and PC Chandra speak to the history and future of NY Fashion Week
  • Hearing from the digital team at Tapestry about their innovations in e-commerce
  • Speaking with Revlon’s Head of Marketing in their luxury division 
  • Presenting final proposals to PVH/Perry Ellis on our consultancy projects

… plus many, many more. As someone with minimal professional experience in the fashion and luxury sectors, I found this class brought me up to speed on the challenges and trends in the space, both in light of COVID and more broadly. Now, headed into the rest of the program, I feel Stern has set us up with a solid toolbelt of foundational skills, plus industry knowledge, to guide our focuses, electives, and soon, job searches – all in just twelve weeks!