Home / Knowledge / News / Apparel/Garments / CrunchFund invests in designer label etailer Bluefly
CrunchFund invests in designer label etailer Bluefly
13
Feb '14
Bluefly, Inc. announced that CrunchFund has joined Clearlake Capital Group in its investment in the Company. Separately, Bluefly announced that it has tapped industry veteran Jeffrey Sherman as senior advisor to its Board of Directors. 
 
Bluefly, a leading eCommerce retailer of designer, contemporary and private label apparel and accessories, was acquired by affiliates of Clearlake Capital Group in May 2013.
 
Mr. Sherman brings deep expertise in retail and eCommerce, serving currently as President of The Echo Design Group and having previously served as President and CEO of Hudson’s Bay Trading Company, President and COO of Polo Ralph Lauren’s Retail Group, CEO of Limited Stores, President and CEO of Federated Direct, and President and COO of Bloomingdale’s. Mr. Sherman stated, “I share in Clearlake’s firm belief that eCommerce will continue to capture a greater share of consumers’ wallets as online offerings become increasingly sophisticated. 
 
Bluefly has always been an innovator in online retail, and I share in Clearlake’s vision of building it into the leading online fashion retailer by providing a unique assortment of high-end fashion at great prices to its loyal customer base.”
 
CrunchFund Co-founder Pat Gallagher, who has been appointed to Bluefly’s Board, said, “We join in our partners’ enthusiasm in backing the team to build a differentiated leader in the fashion eCommerce sector. 
 
Bluefly’s strong foundation and history, coupled with an attractive industry backdrop driven by evolving consumer buying habits and well-curated, convenient online offerings, make this a very exciting time for the Company.”
 
Clearlake co-founder and Bluefly Co-Chairman Behdad Eghbali said, “We are pleased to welcome Pat Gallagher and CrunchFund as an investor in Bluefly and we are excited to partner with Jeff Sherman as we work to build Bluefly into the destination for in-season, high-end apparel and accessories online. 
 
We believe the CrunchFund team and Mr. Sherman bring significant eCommerce expertise and impressive networks to the table, and we look forward to the partnership.”
 
Clearlake announced in August that Clearlake Operating Advisor Neel Grover joined Bluefly as CEO and Co-Chairman. Mr. Grover is former CEO and President of Buy.com and former Director of Rakuten USA. He is joined by Clearlake Operating Advisor Greg Giraudi, former COO and General Counsel of Buy.com, as President and Director.
 
About Bluefly, Inc.
Bluefly is a leading online retailer of designer, contemporary, and private label apparel and accessories that provides its customers with unique access to in-season products at great prices. The Company is uniquely positioned as the only eCommerce company that sells its merchandise through two off-price eCommerce channels.
 

Bluefly Inc


Must ReadView All

Apparel/Garments | On 26th May 2016

PM expects Parliament to pass GST bill this year

Prime Minister Narendra Modi expects Parliament to pass the...

Apparel/Garments | On 26th May 2016

Bangladesh garment exports up 10% in July-April

Continuing the steady growth witnessed over the past few months,...

Textiles | On 26th May 2016

Spun yarn production growth in FY16 slowest in 4 years

India’s cotton yarn production grew by 2 per cent to 4,136 million kg ...

Interviews View All

Amrit Sethia
SOIE

What are the emerging trends in the intimatewear category for women in...

Rahuul Jashnani
Jashn

What is the size of the ethnicwear vertical in India? How are Indian...

Claudia Kersten
Global Organic Textile Standard

What benefits can MSMEs have from GOTS certification? What is the...

Kevin Nelson
TissueGen

<b><i>Kevin Nelson, Chief Scientific Officer, TissueGen discusses the...

Mark Paterson
Technical Absorbents Ltd

<b><i>Mark Paterson, R&D manager of Technical Absorbents Ltd talks about...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search