EDHEC Business School (France) Short Program Study Abroad Report June-July 2023 - Akshay Patil

We are pleased to introduce a study abroad report from Akshay Patil, who participated in "The Business of Luxury" short exchange program at EDHEC Business School, France from June 26th - July 7th 2023.

About the Campus

The EDHEC Nice campus is located on the French Riviera. It is so close to the
Nice airport and we would see planes taking off from the classroom. It is within walking
distance from the city's beautiful beach. Additionally, it is just an hour away from
Monaco which is the wealthiest and most expensive state in the world. It is half an
hour away from Cannes, where the famed Cannes Film festival takes place.

Nice is therefore an
excellent location to study the business of luxury.

Day1:

The first day of our course started with a warm welcome coffee session where we got a
welcome kit consisting of a summer cap, and a water bottle to help endure the summer in
France. In addition, we also received two weekly passes for trams and bus journeys to nearby locations.

After a delicious welcome lunch, we were taken on a field visit to one of the best vineyards
in France. This is the same place where Coco Chanel the founder of the legendary Chanel
brand used to visit, as the owner of vineyard was a close friend of hers. First, we were given a
tour of the Castle where Coco Chanel intended to stay. After having a tour we got a detailed
explanation of various grape varieties in the vineyards. Finally, we had a wine-tasting experience
where we were served six different kinds of wines along with French delicacies.

Day 2:

On the 2nd day of our course, we had a morning class where we were taught the basics
of the luxury brand industry. Our professor explained how luxury brands build their
image and the strategies they use to build brand reputation.

Day 3:

On the 3rd day, we had a session about the psychology of a consumer
when buying luxury products and how it is different from the regular shopping experience.
We also discussed the the regulation of luxury goods and how they are defined in the European
Union, especially Switzerland.
In preparation for our final presentation, my team visited
various luxury watch stores including Omega,
Cartier, Gucci, and Rolex for market research.

Day 4:

The morning session of the fourth day we learned about the  luxury shopping
experience and the marketing strategies implemented by various luxury brands.

In the afternoon
session, we worked on our final presentation with our group.

Day 5:

On 5th Day of our class, we had two field trips. In the morning we visited one of the popular
department stores Galeries Lafayette where the various strategies applied
by the marketing department of the store was explained to us. We had an interactive session with the clientele
manager of department stores.
After the morning session, we traveled to the best shopping
centre in France. We had a guided tour of this shopping center by the Marketing Director and
were given ample time for exploring.

Day 6:

This was one of the most memorable days of program. We got a chance to visit one
of the wealthiest cities on this planet, Monaco. This city is located half an hour away from
Nice city by train. In the morning all the students met at Nice Ville station to catch our train.
We visited 3 main places in Monaco. The first place was a museum where we got a chance to
see the car collection of the Prince of Monaco.

The second place we visited was the Casino Monte Carlo. Lastly, we visited the Monaco Yacht Club where we were
given presentations by a number of professionals working in Monaco. We also received
an introduction about the Monaco Automobile Club from one of the alumni of EDHEC Business School
Institute.

Day7:

On day seven, we spent a whole day with the
communication director of the Robertet group. Robertet group is one of the major players in the
fragrance business. It based in the Grasse region in France with 2200 employees in 51 countries. They have a diverse
customer base in the perfume, food, and medical
sector.

Day 8:

On the 8th day we had a chance to spend the entire day in
Grasse, the perfume capital of the world. In the morning we visited a farm owned by Lancome. This is where they grow the floweres used for making their perfumes. We received a warm welcome from Ms. Careri
Lucie who is the manager of the property. We were then given a tour by the expert perfumer who explained
how various fragrances are created and the brand history.

Day 9:

Day nine was one of the most memorable of the program. We had a
session with Ms. Claire Jollain, the assistant dean of the Swiss hotel management
school. She gave us an inside perspective into the luxury hotel industry. She taught
us that money can buy anything in the world except emotions. Further, she explained to us
that it is not the red carpet or the big swimming pool that builds customer loyalty, but the emotions
and experience provided to customers.

Day 10:

This day was a completely new experience for me as I knew nothing about the Private Jet
industry. We were lucky enough to have a 2 hours session with the
executive officers of Globe Air. Globe Air is one of the private jet service providers in Europe
catering to the needs of many celebrities.

As this was our last day, we had to make our final presentation to our peers. We
worked on our presentations for two weeks and had completed market research in the city of Cannes. This exercise taught me to become to really good
observer. We were given a store checklist grid before visiting shops and
noted our observations during our visit. It was because of this exercise that I started noticing the small
details in a shopping experience like greetings, the try-on ceremony and music played in the shop.

Conclusion

In Summary, I can say that my time at EDHEC was a once in a lifetime experience. Most
of the places we visited were only possible to visit because as a student in this program. I am not sure
whether I will be able to visit France again, but the lessons I learned from this course will be useful
throughout my life.

I had mixed emotions about leaving France. I felt sad that the 2 week program  had finished so quickly but also felt happy that to have had the opportunity to have met some amazing people through the course.