Where are they now...? Interview with Clara Goicoechea L12

Clara Goicoechea graduated from the MBA in International Luxury Brand Management in 2012. Coming from a finance background, she now works as Project Manager for Alexander McQueen in London. We had the opportunity to catch up with Clara to ask her some questions about her time at ESSEC and how it has helped her achieve her professional goals.

What were you doing before the MBA and why did you decide to come to the ESSEC MBA in International Luxury Brand Management program?

Before the MBA I worked for 4 years in Spain in Finance. Although I had always been attracted by the fashion luxury industry I thought working for a bank for a few years would be a good experience. After a couple of years I started looking at the possibilities of changing careers and started my research on the different Business Schools. ESSEC MBA seemed like the perfect fit: it was opened to any kind of background and it was the only one with a specific focus on the luxury industry where I wanted to redirect my career. 

I was impressed by the quality of the partnerships the school had with the fashion houses and luxury conglomerates which was a very important point to develop a good network. Finally, it was in Paris, and I thought that if I needed to learn about luxury it could only be in that city. 

Please describe your career path since graduation. What is your current position and responsibilities?

Just before graduation I was hired by Alexander McQueen as Project Manager. I moved to London in November 2012 and have been working with them since then in business development and strategy. 

What in particular in the MBA in International Luxury Brand Management helped you prepare for your career path or qualify you for your current position?

The MBA gave me a great and unique understanding of every dimension of the luxury industry. The teachers, as well as the many executives who collaborate with the program, are true experts of the business. Learning from them sets an essential basis to start a successful professional career on this industry.

The alumni network is also an extremely valuable asset of the program. I received great guidance from many of them in terms of how to look for jobs, how to approach the companies and what are the different positions that I could be interested in. They also put me in contact with many other people so they help you develop very important professional relationships.

What is your best memory from your time in the ESSEC MBA program?

It is hard just to pick just one… But I have a very good memory of the field project at the end of the program.

I worked for almost two months with three other students and it gave us the opportunity to put in practice everything that we had learned during the year. We realized that we knew much more than we thought!

Most importantly, before the MBA I had only work with finance people and in the project it was four of us from very different countries and very different backgrounds: design, finance & communications. It helped me a lot to understand how more creative people work and it was a bit of a taste of what was going to come later at work. 

What advice would you give to current students in the program?

I would tell them to enjoy as much as possible the exceptional opportunity they have. They are now with many potential future leaders of the industry and they are living in the best city to learn about luxury. I would tell them to be curious about everything, to visit all the expositions they can and to meet as many people as they can. Every day is going to teach them something new and it is going to go really fast.

I would also tell them to not stress about what we all stress by the end of the program which is finding a job… if they work hard and are passionate about what they want to do they are going to find the perfect job.

Learning from the Experts: Managing a Wine and Spirit Brand

By Adolé Kabwasa, MBA in International Luxury Brand Management 2014-2015, Germany

They say that you’ll never forget your first time with Krug. And this might in fact be true. After meeting Krug’s current president and CEO Margareth Henriquez in T1, with whom most of the class experienced their first glass of Krug champagne, we had the privilege to participate in a two-day lecture with Rémi Krug, former president and CEO of the Maison and a descendant of Johann-Joseph Krug, who founded the iconic champagne brand in 1843. For sure this lecture will never be forgotten, since it was a unique experience and great fun.

Rémi Krug, the personification of  ‘French charm', is the perfect ambassador, whose passion for the craft and pride for this remarkable product remain undiminished after more than 40 years in the business.

In his first lecture, he gave us great insights into the wine business, its growing area, harvesting methods and bottling in general as well as the champagne business and the house of Krug. Rémi told us about the history of Krug and his family, the dream of the founder, as well as how the brand has evolved over time and overcome challenges faced during the various decades.

We learned that it’s not only enough to have an excellent product that sells, but one that also needs to be aware and ready for the future. The future might hold changes in markets, population and consumer behavior to which one has to react without hesitation or fear. As long as the brand knows its DNA and keeps true to its personality the future holds a lot of opportunities, if one is willing to take the risk.

Rémi showed us the development of Krug from the 60’s up until today and explained to us the marketing concepts that were fundamental for its positive growth. On the last day of his lecture he invited a guest speaker, who discussed the development and marketing stategies of a spirits brand. No one less than the president and CEO of Hennessy cognac, Bernard Peillon, spoke to us about the challenges and opportunities spirit brands have to face and how a brand like Hennessy has been able to stay on top of the market for the last 250 years.

One of the most exciting topics was the challenge of having totally different consumer groups and tasting moments for a single brand and how to handle such a paradox without overstretching the brand.

After two exciting days of lecture and inspiring personalities, the wines & spirits business gained some more fans in our class and many people are looking forward to an exciting field project within the industry. There are some rumors it could be a Krug project. Well, we’ll see, but I’ll keep my fingers crossed!

Preparing for and Surviving the GMAT

By Stephanie Walker, MBA in International Luxury Brand Management 2014-2015, USA/UK

As our class prepares to conclude our year at ESSEC Business School, it is important to look back and think about the initial steps that we took to in order to get to where we are today. 

For many of us, this included planning for and tackling the famous GMAT exam. A standard in the application process for graduate schools around the globe, preparing to take the GMAT is often the initial step towards achieving graduate education. However, many potential students are often confused on where and how to start their preparations for this exam.

Below are a few helpful tips to consider before your get started:

1. Start early

Studying for the GMAT takes time (especially if you are working and studying simultaneously) and is often compared to training for a marathon. On average students need anywhere from one to three months to study for the exam and it is best to ensure that you have enough time to absorb the material in order to do your best on the day. 

2. Explore study aids 

There are lots of resources available for students preparing for the exam: from workbooks and classes to online resources like blogs and Youtube videos. It is key to find a system of learning that will work well for you early in your preparation to ensure you review the content both efficiently and effectively. 

3. Practice, practice, practice

This may seem obvious, but familiarizing yourself with the various styles and types of problems as well as the unique format of the exam is crucial to performing well on the day. Preparing mock exams and taking them under similar time and material constraints will increase your comfort level and provide you with the ability to focus more on solving the individual problems. 

Experiencing Italian Craftsmanship and Expertise with Ermenegildo Zegna

By David Sandoval, MBA in International Luxury Brand Management 2014-2015, Colombia

One of the highlights of our trip to Italy, was definitely the visit to Ermenegildo Zegna. A 90 minutes drive to the countryside, driving up to a charming Italian town called Trivero. We were warmly welcomed, as custom, by Benedetta Zegna, the Talent Development Director and member of the Zegna family.  

The Italian family-owned company values were palpable through every single detail and the presentations during the whole day were charged with lots of current news of their business, from the recent creation of a Digital Department, directed by the youngest generation of the family, to the details of their made to measure CRM program and the new vision of Zegna, targeting millenials, which is key for the company to stay relevant for this group of growing customers.

Efforts in digital, customized after sales, ultra luxurious VIC program, eyes on the millenials and a new Zegna generation coming into the company; all of these initiatives point to the company’s commitment to innovation and drive to remain current in the market today.  These changes are definitely interesting to observe, as they are forcing the evolution of the company, but always in a positive direction. They also reveal a company who is thinking with regards to long-term strategies, rather than the short term future.

Another interesting part of the day was the factory visit, which was fundamental for those of us who are interested in fashion, to comprehend all manufacture processes and be able to think about where things can be improved and how. A detailed accompanied tour through the factory where Zegna is developing all its fabrics allowed us to see the extreme attention to the different steps in developing a fabric. Numerous quality controls, and more importantly, a mix of industrial and artisanal methods showed the know-how and expertise on fabrics of this highly respected brand. 

A brief visit to Casa Zegna, the place where they hold their archives, was the final experience of the day, where we had the honor to see all the history of the brand, the improvement that Zegna brought to Trivero, the prizes in fabric making and other important achievements. The class was also able to view a rich and organized notebook from Aldo Zegna on the different methods he used over time to develop hundreds and hundreds of fabrics for the brand. 

ESSEC is proud to have maintained a strong relationship with Zegna for almost a decade now. Definitely an inspiring visit for us all.

Where are they now...? Interview with Octavian Cornea L11

Octavian Cornea graduated from the MBA in International Luxury Brand Management in 2011. We reached out to him to get a glimpse of what he has achieved since his time at ESSEC and to ask him for some valuable advice for current and future students.

• What were you doing before the MBA and why did you decide to come to the ESSEC MBA program?

My latest appointment before the MBA was CRM and Marketing Coordinator for an East European luxury group operating various franchised monobrand and flagship stores. This experience was instrumental in my career as it provided me with a background in retail, CRM and marketing for luxury brands in emerging markets.

I wanted to work in the luxury industry from a very young age. The ESSEC MBA in International Luxury Brand Management was the natural and only choice for a specialized MBA in the luxury industry.

The rationale behind my choice was that ESSEC being the oldest luxury MBA out there, must also have the biggest alumni base… also the number and quality of companies that participants are exposed to is by far the highest compared to any other Master program or MBA with a luxury track.

• Please describe your career path since graduation. What is your current position and responsibilities? 

I joined Ermenegildo Zegna’s Talent Program in 2011 and have since been working in the central CRM department where I’ve had the opportunity to hold several roles that consolidated the company’s customer retention and delighting efforts. I currently coordinate at Global Level the company’s programs and initiatives for customer loyalty, delighting and also new customer acquisition.

• What in particular in the MBA in International Luxury Brand Management helped you prepare for your career path or qualify you for your current position?

Besides the academic contents, I credit my professional success to the multi-cultural teamwork and case study method that the MBA promotes. Learning to cope with and manage diversity, being an effective communicator, influencer and motivator, gaining fresh perspectives and developing my critical thinking are all outcomes of my intense and rewarding MBA experience and teamwork.

• What is your best memory from your time in the ESSEC MBA program?

There is a unique feeling that you get when you do what you love. Working late on field projects, studying state of the art research for projects, debating with teammates on the directions in which to take a project… all of this hard work would culminate in the moments we would present in front of delegations from luxury powerhouses. The feeling I had in my stomach moments before a presentation, going in front of companies that I admire, knowing that I was part of a team of hard working, creative, passionate and inspiring professionals – that feeling is my best memory from the MBA. 

• What advice would you give to current students in the program? 

Give before you ask to receive, use and nurture your network, research the people and companies you will meet throughout the year, be curious about everything, learn to really listen, think creatively and never forget this acronym – HWPO (Hard Work Pays Off)… always!