NEW YORK — Saks Fifth Avenue has launched a corporate gift program, which it projects could ultimately become a $50 million business.

The new strategy reflects efforts by Saks in the past few seasons to become more of a destination for gifts. Corporate gifts is a relatively untapped market, underserved in the luxury sector, though Tiffany’s does it on a significant level. The corporate gift-giving industry is estimated at $4.8 billion annually.

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