MFM full form Master in Fashion Management is a postgraduate program of 2 years that focuses on imparting knowledge and skills required to develop industry leaders and top managers in the fashion industry.
A career in fashion will be a highly lucrative option in India as the fashion industry in India would become the sixth largest in the world by 2024 creating job opportunities for candidates having degrees in fashion, especially in Fashion Management.
According to a report by McKinsey, the candidates of the MFM course would be in high demand during the next few years because over 300 new brands are expected to open shops in India and would require managerial candidates.
This course is mainly provided by the National Institute of Fashion Technology (NIFT), but there are other colleges and universities as well that provide this course.
The admission to the course is done mainly on the basis of the entrance examination. The NIFT MFM entrance examination is mandatory for admission to the NIFT.
The average course fees of the MFM course range between INR 400,000-INR 450,000.The candidates after completing the course are generally offered jobs in sectors. retail, marketing, e-commerce, etc. The salary ranges between INR 50000-INR 625000 per annum.
Listed below are some of the major highlights of MFM degree:
| Full Form | Master of Fashion Management |
| Course Level | Post Graduate |
| Duration | 2 years |
| Examination Type | Semester System |
| Eligibility | Undergraduate Degree from any Institute / University recognized by law in India |
| Admission Process | Based on counselling after clearing Entrance Tests like NIFT-MFM for different colleges. |
| Course Fee | INR 4,50,000 |
| Average Starting Salary | INR 3-8 LPA |
| Top Recruiting Companies | Textile mills, Home furnishing companies , Design BPO’s, Large retailers, Brand marketers, Manufacturers, Consultancy organizations, E-retailers, International Brands, Startup firms, etc. |
| Job Positions | Showroom Sales Manager, Technical Design Manager, Cutting Assistant Costume Designer, Fashion Coordinator, Fabric Quality Control Manager, Marketing Manager, Social Media Manager, Fashion Merchandiser, Export Sales Manager, etc. |
All About MFM Course
A career in fashion is now seen as a viable option in India for the last two decades. With the establishment of the various fashion schools in India, candidates have the option to pursue different courses in fashion related to design, management, retail and many more.
- The MFM full form Master in Fashion Management is a course that trains the aspirants into deep understanding about the management, marketing, retail and export, international trade practice,and many more about the fashion industry in India.
- The course is a fusion of marketing and merchandising in a unique manner with a strong emphasis on management orientation that creates a versatile manager for the global fashion industry.
Let us understand why the MFM course can be a good academic choice for future career options.
Why Study MFM Course?
MFM or Master of Fashion Management is a postgraduate management course especially designed to produce future managers required to meet the increasing demands of the fashion industry. The future manager of the course. The course allows the aspirants to train aspirants to detect micro and macro trends in the fashion industry and create innovative strategies to improve the brand position in the industry.
The following details underline the importance of studying the MFM course
- Bustling Growth: The Indian fashion industry is accepted to grow at a rate of around 10 % in the coming years and is expected to be worth USD 59.3 Billion dollar by 2024 and is expected to become the sixth largest in the world, at par with the United Kingdom (USD 65 Billion) and Germany (USD 63.1 Billion). Hence creating employment opportunities for the MFM graduates.
- Job opportunities: McKinsey’s Fashion Scope reports that the over 300 fashion brands are going to open up shop in India, thus creating new opportunities for the various MFM candidates. The course allows the candidates to work in various segments within the fashion Industry such as retail, sales, market research, forecasting and many more.
- Competitive Pay and other Benefits: Master of Fashion Management, MFM candidates after the completion of the course earns roughly around INR 6,25,000 per annum. The average course fees of the MFM course ranges between INR 400,000-INR 450,000, thus allowing them to break even within the first year after getting the job. Apart from competitive pay the MFM graduates also get other benefits such as health insurance, retirement benefits, travelling expenses and many more.
- Opportunities to turn entrepreneur: The course allows the candidates to set up their own business after completion of the course. A large number of NIFT graduates have set up their own business after gaining experience in the relevant field after the completion of the course.
- Students will become increasingly familiar with the language and rules of the fashion system. They will be guided to set and perform smart research projects, grow an analytical approach, make informed decisions, develop creative and financially sustainable strategies, where the brand image matches the definition of the distribution channels and the brand/product portfolio
- The objective of the Master of Fashion Management (MFM) program is to prepare future managers of fashion companies, who will be able to deal with competitive global environments and to promote the exchange of experiences and best practices in the international fashion arena.
Who should do MFM Course?
- Candidates who are interested in working in the fashion industry should take up the course.
- The Master in Fashion Management Course is focused on gaining a global foothold in the fashion industry. Candidates who have the ability to think out of the box regarding strategies as well product placement should take up the course.
- The course would be a perfect fit for candidates who are capable of understanding the early trend in the fashion industry.
- Candidates who wish to turn entrepreneur in the future should take up the course as it allows them to open up their own line.
- A job in the fashion Industry is very hectic and requires a lot of travel. Candidates who are open to the idea of frequent travel should take up the MFM course.
When to do MFM Course?
- Candidates can take up the MFM Course immediately after the completion of the undergraduate program.
- For Candidates who have completed a degree in fashion and relevant field, it would be ideal for them to gain some experience before continuing with their studies as it would become handy during the placement.
- The Master of Fashion Management Fees is quite stiff. Hence, the candidates should arrange for the finance through various loans and scholarships, to avoid dropping out of the course.
MFM: Admission Process
Admission to the MFM Course is done through the NIFT admission test. The entrance examination is followed by a round of group discussion and personal interview. A few colleges offer admission through the merit list.
Let us understand the MFM Admission process in more detail.
Eligibility
The following are the eligibility criteria for admission to the MFM course.
- Any student can pursue this course if they have completed their graduation from a recognized university or college.
- The duration of the graduation course must be at least 3 years or more.
- Candidates who have completed a minimum 3 years of undergraduate diploma from any NIFT or National Institute of design (NAD) are also eligible to apply for the course.
- Apart from the above criteria, NIFT postulates that the candidates must have good knowledge of English as because the medium of instruction is in English in NIFT.
- Similarly the candidates must have the basic knowledge about computer application and internet surfing.
MFM Admission 2024
The following are the steps that must be followed by the candidates for the MFM admission 2024.
- Admission in MFM course is mostly done on the basis of performance in a relevant Entrance Exam like NIFT-MFM Exam 2024.
- Candidates are required to visit the NIFT website and go to the admission section and register themselves.
- After the completion of the registration the candidates must submit the application form and pay the required fees and take out the receipt from the website. Those making payment through Demand draft must make the DD in favour of the concerned authorities. In case of NIFT MFM Entrance the DD must be in favour of “ NIFT HO”.
- The NRI candidates must take the GMAT examination in order to pursue the course from the NIFTs.
- After appearing in the entrance examination, the shortlisted candidates are called for a Group Discussion (GD) and Personal Interview (PI) round.
- Final MFM admission is done considering marks scored in the Entrance examination and the performance in GD & PI.
- Initially provisional admissions are done. Admissions are confirmed after the candidates are able to produce the relevant documents during the admission process.
MFM Entrance Examination
One of the most common entrance exams for Master in Fashion Management is NIFT MFM Exam 2024 for admission into one of the many NIFT institutes.
Other than this, colleges also accept CAT, GMAT & MAT scores as well for the MFM admission process.
NIFT MFM Entrance Exam
- The NIFT MFM Entrance examination is conducted by the NIFTs for admission to its various undergraduate and postgraduate courses.
- The entrance examination would be done in offline, pen and paper mode.
- The entrance examination for the MFM course would be MCQ based.
- The duration of the entrance examination is 3 hours.
- The application form for the entrance examination is INR 1500 for the general candidates and INR 750 for the reserved candidates.
GMAT
- NRI candidates who want to study the MFM course in NIFT must appear for the GMAT entrance exam.
- Candidates must register for the GMAT entrance exam at least 6 months in advance so that they are able to book the slot.
- The duration of the entrance exam is 2 hours and 45 minutes.
- The entrance exam consists of MCQs in sections such as Verbal reasoning, Quantitative reasoning, Integrated reasoning, and Analytical Writing (optional).
- The cost of the application form for the GMAT is USD 250 (INR 18,310).