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Technology Stocks : BLUEFLY.COM(BFLY)
BFLY 2.655-1.5%11:02 AM EST
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To: Joe Casey who wrote (446)10/5/1999 1:59:00 PM
From: JustMy2Cents   of 487
 
Bluefly's CEO Seiff on Internet Retailing: Company Comment
9/27/99 14:37

Philadelphia, Sept. 27 (Bloomberg) -- Bluefly Inc. Chief
Executive Kenneth Seiff comments on what it takes to succeed
online. He spoke at ''NRF.com,'' a conference on electronic
commerce organized by the National Retail Federation that's being
held this week in Philadelphia. Bluefly's Internet site sells
designer clothing and home-furnishings at discount prices.

On the costs involved:
''I don't come from the school that says everybody belongs
on the Internet, because the economics are so profound. In our
case, we're planning to spend about $100 million in the next
three years.
''If you're going out there to play defense, don't bother
playing. If you play offense, it's a huge opportunity. It's the
Wild Wild West. It's the biggest land grab in the history of
retail.
''But if you're not going out there to play offense, if
you're not going out to dominate your sector and you're not
prepared to invest capital, this may be a big waste of money.''

On Bluefly's strategy:
''Our marketing budget is more than 100 percent of sales,
and it will continue to be for some time. We're out for total
market domination of the off-price space. If we win that game,
it's a $27 billion market. The value we create by investing
$100 million in building the brand turns into the billions.''
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