Why Millennials Will Be Signing Up for the Elite Retail Program

Press enter to search
Close search
Open Menu

Why Millennials Will Be Signing Up for the Elite Retail Program

Milton Pedraza, CEO of the Luxury Institute, announced the launch of a new start-up program, the Retail Performance Academy (RPA). The academy's Elite Retail Program (ERP) will bring evidence-based, Ivy-League quality training, coaching and networking to carefully selected students who commit to mastering the high performance, relationship-building skills of retail's top-earning experts.

Top-performers in retail can earn anywhere from $60,000 to $100,000 within three to five years, and top associates who build a client base can earn $200,000+ per year in five to seven years. A top-tier luxury retail flagship store manager in New York today can earn a package of $250,000, and an average store manager can earn $80,000.

Pedraza has helped dozens of brands such as Gucci, Bottega Veneta, Intermix and Porsche to improve performance metrics in a humanistic, measurable way. Retail Performance Academy's core principles are based on learning how to demonstrate product expertise and building lifelong client relationships using the mastery of emotional intelligence-based behaviors and metrics.

The Retail Performance Academy was inspired by three converging trends: first, the U.S. retail industry is a $5-trillion juggernaut that continues to grow, and the top 20 percent of sales associates accounts for 80 percent of sales at top-tier brands. Second, the luxury and specialty retail brands, including apparel, jewelry, watches, automotive, technology, and dozens of other categories, are desperate for, and have open positions for, high-potential, well-trained sales associates they can reward and retain. Third, while a college education is extremely valuable, it is most valuable for the children of the wealthy who go to elite colleges.

Only 52 percent of middle-class and low-income students who enroll in college graduate within six years. Most of the rest drop out usually after their freshman year. And of those who graduate college, nearly 44 percent are underemployed (hold a job that doesn't require a college degree) or unemployed. Many of these young people, even if they graduate, lack the skills that employers need, and yet incur massive debt that cripples their future.