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 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search