SAKS DOT-COM TAPS ALFANO
NEW YORK — Jennifer Jackson Alfano has been named vice president of editorial content for Saksfifthavenue.com., Saks Inc.’s e-tail venture to be launched in June.
Alfano, responsible for the development and oversight of all Web site editorial content, will report to Denise Incandela, chief operating officer of Saks Direct.
Alfano had been a fashion writer at Harper’s Bazaar since April 1994. She was at Vogue from 1991 to 1994.
Saks has ambitious plans for its e-tail venture. As reported, R. Brad Martin, chairman and chief executive officers of Saks Inc., predicted in January Saksfifth-avenue.com would be one of the two largest units in all of Saks Inc. — the other being Saks’ New York flagship. “I think those two businesses, five years from now, will have approximately equal volumes,” he added.
Saks Fifth Avenue’s flagship generates roughly $450 million to $500 million in annual sales, with an average transaction of $200 to $500. The online site will initially have 10,000 luxury stockkeeping units.
First-year sales are projected at $15 million to $20 million, with about a $12 million loss, or 8 cents a share. By mid-2001, Saks sees 100,000 items on the site.