New Executives, New Owner for

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Red Alert: A selection of designer accessories available for sale at

Red Alert: A selection of designer accessories available for sale at

New York—Bluefly, an Internet pioneer in discount designergoods retailing, is looking to a new lease on life. Founded in 1998, the company, was purchased recently by private investment company Clearlake Capital Group for an undisclosed sum.

As part of the takeover, Clearlake named one of its advisors and a veteran of, Neel Grover, as chief executive office and co-chairman. Clearlake partner and co-founder Behdad Eghbali, who has been named co-chairman. Another former Buy alumni Greg Giraudi was made president.

“Bluefly is a pioneer in the fashion e-commerce space and will greatly benefit from a fresh strategy and renewed sponsorship from Clearlake,” said Grover. “With four million customers and 35 million unique visitors, the company has a great foundation. We plan to enhance the customer experience at both Bluefly and Bell & Clive as we continue to expand product selection by building a leading marketplace for designer and contemporary apparel and accessories.”

In 2011, Bluefly expanded, launching Belle & Clive, a members-only shopping destination that presents highly-curated selections of important brands via flash sales.

Bluefly posted a $24.9 million loss in its fiscal 2012.

Clearlake said it would be appointing additional senior executives presently.


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