New York University Stern School of Business is launching two new specialized MBA programs for students to satisfy business careers in either the technology or the fashion and luxury industries. NYU Stern was the first US business school to offer a fashion and luxury MBA. Stern’s Tech and Fashion & Luxury MBA are intentionally designed for a specific type of MBA candidates having definitive career focus and a passion for these fields.
“Fashion is the armour to survive the reality of everyday life.” — Bill Cunningham. Over the past several years, the fashion and luxury industries have increasingly acknowledged the competitive advantage of adding business talent to their creative ranks, especially in the face of technological disruption.
Stern’s new MBA programs in Tech and Fashion & Luxury are designed to enable students to build applicable knowledge, gain real-world experience and earn their MBA in a one year. The popularity of one year MBA degree is increasingly among business managers who cannot afford to take two years out of work to study for a full-time MBA.
The programs highlight two big trends in business education: A growing desire to have content and careers in the technology sector; and the growing luster of luxury. The program structure consists of four components – a business core, a technology or fashion and luxury core, real-world learning projects with organisations in the respective specialty areas and electives.
The curriculum to prepare future talent of industry-specific MBA programs, were developed through extensive conversations and in conjunction with industry advisors. The university is expected to undergo a re-branding to accompany their newly established MBAs which will incorporate real-world business projects. Their “experiential learning” will be part of Stern Solutions, with many of the companies like Amazon, BuzzFeed, General Catalyst, Citigroup and others making up the advisory boards to partner on future Stern Solutions projects.
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NYU Stern Dean Peter Henry said, “The school has the advantage of being able to leverage its proximity to multinational brands, startups and nonprofits in New York City as we sit in the heart of the business ecosystem, with global headquarters and new economy upstarts just outside our doors”.
The Tech MBA is designed for candidates with strong technology backgrounds. The program will prepare students to advance their careers in Product Management, FinTech and Tech Entrepreneurship across various industries.
The core of Tech MBA program is designed in partnership with NYU’s Courant Institute of Mathematical Sciences. NYU Stern also plans to draw on the strength of its own faculty in computer and data science in the Tech MBA.
The Fashion MBA program is effectively designed to combine the management concepts related with the worldwide fashion industry with various business modules of fashion design, production, marketing and merchandising.
The Fashion & Luxury MBA program is designed for students interested in a broad range of luxury areas — accessories, apparel, beauty, jewelry, high-end automotive, fine wines and spirits, real estate, wearable tech and more. They will also have access to the Stern Fashion Lab, a new central hub being established for industry-related projects and networking for all Stern students.
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A cofounder of the new hub who currently teaches fashion-focused MBA courses at the school, Joseph Ferrara said “ Stern Fashion Lab will be a nexus for fashion brands, retailers and media to come together with students, faculty, designers, technologists and entrepreneurs during this time of incredible disruption, and will play a valuable role in the Fashion & Luxury MBA student experience”.
The inaugural classes for the Tech MBA and Fashion & Luxury MBA will enroll in May 2018. Application deadlines for each are in September and November (two rounds) of this year 2017, and both programs are priced (excluding living expenses) at US$96,000. Students will take 51 credits over 12 months and earn an MBA degree from Stern in one year.
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