Latest Bluefly News
Apr 30, 2019
Bluefly goes up for sale Bluefly Hilco Streambank, an advisory firm specializing in the sale of intangible assets, is managing offers for the company’s business assets, including the Bluefly.com domain name, trademarks, customer data and associated purchase data, as well as the company’s social media profiles. According to Hilco Streambank, Bluefly brought in 10.7 million website visitors in 2017, and 7.5 million from January to September 2018. Bluefly, which launched in 1998, operated using its own in-house marketplace selling off-price men’s and women’s apparel, accessories and more, before transitioning to a platform powered by e-commerce technology company Mirakl in 2018. The company saw positive holiday sales following the change, reporting a gross merchandise volume of $1.7 million - a 20 percent year-over-year increase from the prior year period - during the 2018 Black Friday period from November 19 through 26 of 2018. However, in February of this year the company abruptly shut down, closing its office in Manhattan’s Garment District and filing for Chapter 7 bankruptcy. The company reported between $500,000 and $1 million in assets and up to $10 million in liabilities. "The Bluefly.com brand is well-recognized by women of all ages, with a high concentration among Generation X and millennial customers, a highly loyal and desirable demographic," said Richelle Kalnit, Hilco Streambank senior vice president. "There is an exciting opportunity to relaunch the brand and re-engage with the Bluefly.com customer." Offers are due on May 6, 2019 at noon Eastern time. An auction will be held on May 8, 2019 at 1:00 p.m. Eastern time.