Fashion Economics

Reinventing Fashion Business
In partnership with 24ORE Business School and Palamon Capital Partners / Mentorship by Hirofumi Kurino

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Fashion Economics is a holistic and pioneering Master program whose aim is to shape future Chief Financial Officers and a new generation of Financial Managers able to supervise Mergers and Acquisitions for fashion & luxury multinational conglomerates in line with new ethical standards and social values. Today, fashion is dominated by global groups, yet the sector remains vital for human expression. This course thus represents a new paradigm for business sciences, linking philosophy to financial strategy and annual sustainability reports to corporate conscience, underlying and examining how aesthetics is always an expression of ethics.

The Master in Fashion Economics is structured by the in-depth study of two main areas: fashion and economics. The first hones in on culture and is dedicated to the specifics of the fashion sector, placing humans and society at the center whereas the second area deals with the technical dimension of business and finance at the corporate level. The course includes two projects, a mid-term consisting in the simulation of a merger & acquisition action and a final involving the start-up of a new company (or company project), both ethically and environmentally sustainable. Fashion Economics is led by teachers from the industry that will act as one-on-one consultants for the final projects. In addition to guest lecturers with international figures, the course will include field trips to trade fairs, companies and corporate museums, as well as internship opportunities.

24ORE Business School Experts will help students to develop their managerial, economic and financial skills, necessary to fully understand the peculiar business of a fashion company. Being able to read and interpret business and market data is the first step to build strong professional skills and be able to understand the trends and future developments of the sector, both in the national and international context.

According to an analysis by McKinsey (The State of Fashion 2019), the global fashion market will be characterized by a change in business models, more attention to the aspects of transparency and sustainability, and will increasingly represent a profitable business for investors. With this in mind, the contribution of the British investment fund Palamon Capital Partners to the Fashion Economics Master gives an important added value: case histories of M&A operations in the fashion field will be discussed with the students by the managers and entrepreneurs directly involved in the operations, who will be able to explain the purpose and consequences of these activities.

Lessons take place from January to September and amount to a total of 700 contact hours. Thereafter, there is the possibility of completing the course with an internship in a fashion company, leading to the overall obtainment of 80 credits. English language proficiency and attendance are required. Candidates are eligible and selected after the admission process.

Upon completion of the Master students will be automatically given the possibility to partake in the Polimoda Talent program.

Study Plan

The Master in Fashion Economics will take form in the following thematic modules:

Fashion
Contemporary Fashion, Fashion Anthropology, Global Economy, Fashion Business Models, Fashion Marketing & Merchandising, Corporate Image Building, Sustainable Fashion, Fashion Entrepreneurship, Company Culture and Social Responsibility, Infographics.

Economics
Statistics, Business Management, Accounting Management, Financial Management, Financial Statement Analysis, Cost Management, Corporate Evaluation, Extraordinary Financial Operations, Fintech, Stock Exchange, Fashion Law, Human Resources Management.

The course will offer also a range of parallel activities such as yoga, Eastern philosophy, meditation, presentation techniques and mental-health related classes.

Learning outcomes

Upon successful completion of the master course, students will be able to:

  • Demonstrate extensive knowledge of financial theories within the primary areas of finance, including problem solving skills within financial settings.
  • Identify, evaluate and select alternative courses of action for addressing ethical dilemmas.
  • Manage relationships between fashion organizations and their stakeholders while considering ethical practices and social responsibility.
  • Employ optimal practices in risk management to protect the financial position, investments, legal position and ethical reputation of fashion and luxury organizations.
  • Embody a new financial and ethical professional profile demonstrating that a New Fashion Era is possible.

Career Opportunities

Combined with passion and the drive to succeed, Fashion Economics paves the way to a career as a CFO, Financial Executive, Chief Responsibility Officer, Corporate Social Responsibility Executive, Human Resource Manager fostering the CSR-HR connection, or an entrepreneur in a wide array of sectors, including Fashion, Leather Goods, Fine Jewelry, Fair Trade Fashion, Consulting Agencies and New Business.

Partners

24ORE Business School

24ORE Business School has developed an innovative educational offer, tailored to postgraduates and young professionals. It also provides refresher courses for experienced managers and professionals working in private organizations as well as public institutions. The continuous innovation of the educational offer and programmes update leverages on the collaboration with the much-respected daily financial newspaper, Il Sole 24 ORE, the radio station and the other multimedia products of Gruppo 24 ORE.

Palamon Capital Partners

Palamon Capital Partners is a private equity partnership that invests growth capital of between €30 million and €100 million in European lower mid-market companies. The Firm manages funds with €1.3 billion of equity capital for investment and is backed by some of the biggest investment institutions in the world.

Mentor

Hirofumi Kurino
Co-Founder of United Arrows
Born in New York and raised in Tokyo, Hirofumi Kurino is the co-founder of Japanese retail group United Arrows. With an Art History and Semiotics Degree from Wako University in Tokyo, Kurino began his career in the late 1970’s as a sales person and assistant buyer for retail chain store Suzuya. He then moved on to Beams for an 11-year tenure, climbing the ranks to brand director. In 1989, he founded United Arrows, serving as managing director, buyer and chief creative officer before becoming senior advisor for creative direction in 2008. Over the course of his career, Kurino has been recognized for his excellence with a slew of accolades and awards including being named one of the 500 most influential people in fashion by The Business of Fashion in 2014, receiving an Honorable Fellowship from the Royal College of Art (RCA) and being chosen as a member of the jury for LVMH Prize since 2014. He is also one of the first Tokyo-based retailers to join the Ethical Fashion Initiative.

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