Madison Reed has raised $32.1 million since launching 15 months ago.
ShopNBC, which tried unsuccessfully to sell itself in recent months, has hired Carol Steinberg as senior vice president of e-commerce and Jean Sabatier as senior vice president of sales and product planning. Both have worked at ShopNBC competitor QVC.
After failing to find a buyer for the company, TV and web retailer ShopNBC has been reinventing itself, adding product categories and moving away from higher-priced jewelry. Today it took another step in its revival efforts by hiring two experienced e-commerce executives for top positions.
The company announced that Carol Steinberg is coming on board as senior vice president of e-commerce and Jean Sabatier as senior vice president of sales and product planning. Both have worked at ShopNBC competitor QVC. Earlier this year, ShopNBC had brought in two former QVC executives, one as a board member and another as an advisor.
Steinberg most recently was vice president at multichannel retailer David’s Bridal, No. 314 in the Internet Retailer Top 500 Guide. Before that, she spent 12 years at QVC, No. 11, leaving as director of online marketing and business development. At ShopNBC, Steinberg will be in charge of direct day-to-day operations of the Internet business, online marketing, and strategy development and implementation. She replaces Geoff Smith, the former senior vice president of e-commerce who has left the company.
Sabatier will be responsible for airtime strategy and merchandise productivity. He has spent the last 12 years at QVC, most recently as director of sales and product planning.
"We are thrilled to have Carol and Jean join the management team," says ShopNBC president and CEO Keith Stewart. "Carol is the ideal dot-com executive for ShopNBC.com with a proven track record of driving revenue in multichannel electronic retailing through innovative merchandising and online marketing while identifying new business opportunities. Jean is one of the best and brightest in the business; he possesses a comprehensive knowledge of airtime strategy optimization backed by disciplined merchandising and analytical skills.”
ShopNBC, No. 87 in the Internet Retailer Top 500 Guide, registered a nearly 28% decline in web sales last year to $180.8 million from $250.2 million. That put it far behind both QVC, which reported web sales last year of $1.99 billion, and HSN, No. 26 in the Internet Retailer Top 500 Guide, which sold $1.02 billion online in 2008.
ShopNBC is owned by Value Vision Media Inc.