>>
Home / Knowledge / News / Fashion / Bluefly decides to launch full-scale marketing campaign

Bluefly decides to launch full-scale marketing campaign

28
Jun '05
Online fashion designer brands retailer Bluefly Inc announced it raised slightly over $7 million in gross proceeds in a private placement. The company plans to use a majority of the capital to fund an intensive customer acquisition marketing campaign.

"Over the past eighteen months, Bluefly has achieved impressive growth by revamping our merchandising strategy and re-setting our margin structure," said Melissa Payner-Gregor, Bluefly's CEO and President. "As a result of this success, Bluefly now has the opportunity to accelerate growth by launching a full-scale marketing campaign. Having recently completed a comprehensive customer and prospect analysis, we are poised to use the capital infusion to focus firmly on customer acquisition."

The transaction was arranged by HPC Capital Management LLC of Atlanta and New York, and the investment group participating in the transaction was led by private equity firm Palisades Master Fund. Eight other private equity funds, including two funds affiliated with Soros Fund Management LLC - the company's majority shareholders - also purchased a portion of the new securities.

In connection with the transaction, the new investors also purchased shares of the Soros funds' Series D preferred stock in the Company with an aggregate liquidation preference and accrued dividends of $3 million. The new investors paid the Soros funds $3 million for the Series D preferred stock.

Under the terms of the deal, Bluefly issued $7 million of preferred stock. The preferred stock is convertible into common stock at $2.32 per share, which represents approximately a 5% premium to market at the time the deal was signed.


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Jan 2022

Singapore, Bangladesh agree to conclude FTA early

Bangladesh and Singapore have agreed to accelerate the process of...

Pic: Airlines IATA

Textiles | On 18th Jan 2022

Supply chain disruptions stall global cargo growth in Nov 2021: IATA

Data for global air cargo markets have revealed slower growth in...

Pic: Shutterstock

Textiles | On 18th Jan 2022

Philippine garment-textile industry seeks govt support to protect jobs

The Clothing and Textile Industry Tripartite Council (CTITC) in the...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Ahmet Gecikli,

Ahmet Gecikli

Ser Mekatronik, founded in 2008, is specialised for providing mechanical...

Ilker Hacioglu,

Ilker Hacioglu

Founded by three partners of French origin in 1988, LC Waikiki started its ...

G Tumbarello,

G Tumbarello

Lilly + Sid is an award-winning organic children's clothing company from...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Payal Singhal, Label - Payal Singhal

Payal Singhal
Label - Payal Singhal

Leading South Asian fashion designer, <b>Payal Singhal </b>known for her...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

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

Leave your Comments

ESTEEMED CLIENTS

Brandix Lanka Limited
Tchibo GmbH
Reiter India Private Limited
Bluestem Global Sourcing Limited
Phong Phu international JSC (PPJ)
The LYCRA Company Singapore  Pte. Ltd
Tory Burch Hong Kong Ltd
Lisa S.P.A.
TESCO INTERNATIONAL SOURCING LIMITED
Gloria Jeans
Lifestyle
Gatsby Africa
Page Industries Limited (Bangalore)
Walmart
Seasalt Limited
Sainsbury's Argos Asia Limited
Rayonese Textile Inc., Division de Culp Inc.
C;&A Sourcing International Ltd

January 2022

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


Advanced Search