Scott A. Erdman Joins Bluefly as Senior Vice President of Merchandising

Bluefly, Inc. (NASDAQ Capital Market: BFLY), a leading online retailer of designer brands, fashion trends and superior value, today announced that Scott A. Erdman, has joined the Company as Senior Vice President of Merchandising. Mr. Erdman comes to Bluefly with 15 years of retail, merchandising and online experience.

Mr. Erdman is a highly accomplished merchant with a diverse background including leadership roles with luxury retail, apparel and accessories companies. Most recently, Mr. Erdman served as General Merchandising Manager at Swirl by DailyCandy, a start-up retail venture under the DailyCandy Enterprises umbrella. Prior to that, Mr. Erdman was Vice President, Divisional Merchandise Manager at Saks Fifth Avenue. Prior to Saks Fifth Avenue, Scott held various merchandising roles at LVMH. Additionally, Mr. Erdman was a Buyer at The Sharper Image. Mr. Erdman began his career at Macy’s West where he rose from sales manager to a buyer. Scott holds a B.A from Dartmouth College and an M.B.A. from The Amos Tuck School of Business Administration.

Joseph C. Park, Chief Executive Officer of Bluefly Inc. commented, “We are very excited to bring Scott on board as Senior Vice President of Merchandising. Scott’s retail and e-commerce experience is aligned perfectly with the luxury branded offering we present to our customers at Bluefly and Belle & Clive. I look forward to working closely with Scott as we continue to execute on our strategy to capitalize on the significant opportunity for growth for luxury apparel and accessories online.”

About Bluefly, Inc.

Founded in 1998, Bluefly, Inc. (NASDAQ Capital Market: BFLY) is a leading online retailer of designer brands, fashion trends, and superior value. Bluefly is headquartered at 42 West 39th Street in New York City, in the heart of Manhattan’s Fashion District. In 2011, Bluefly expanded its portfolio, launching Belle & Clive, a Members-only shopping destination that presents highly-curated selections of important brands via limited-time sale events; and Eyefly, an online portal for fashionable prescription eyeglasses starting at $99. For more information, please dial 212-944-8000, or visit www.bluefly.com

This press release may include statements that constitute “forward-looking statements,” usually containing the words “believe,” “project,” “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by the Company with the Securities and Exchange Commission, including Forms 8-K, 10-Q and 10-K. These risks and uncertainties include, but are not limited to, the following: the Company’s history of losses and anticipated future losses; the Company’s ability to realize benefits from its increased marketing expenses; risks associated with the economic downturn; risks associated with affiliates of Rho Ventures, LP, affiliates of Soros Fund Management, private funds associated with Maverick Capital Ltd. and affiliates of Prentice Capital Management, LP each owning a significant portion of our stock; the potential failure to forecast revenues and/or to make adjustments to our operating plans necessary as a result of any failure to forecast accurately; unexpected changes in fashion trends; cyclical variations in the apparel and e-commerce markets; risks associated with our dependence on one supplier for a material portion of our inventory; the risk of default by us under our credit facility and the consequences that might arise from us having granted a lien on substantially all of our assets under that agreement; risks of litigation related to the sale of unauthentic or damaged goods and litigation risks related to sales in foreign countries; our potential exposure to product liability claims in the event that products sold by us are defective; the dependence on third parties and certain relationships for certain services, including our dependence on UPS and USPS (and the risks of a mail slowdown due to terrorist activity) and our dependence on our third-party web hosting, fulfillment and customer service centers; online commerce security risks; our ability to raise additional capital, if needed, to support the growth of our business; risks related to brand owners’ efforts to limit our ability to purchase products indirectly; management of potential growth; the competitive nature of our business and the potential for competitors with greater resources to enter the business; the availability of merchandise; the need to further establish brand name recognition; risks associated with our ability to handle increased traffic and/or continued improvements to our Web Site; rising return rates; dependence upon executive personnel who do not have long-term employment agreements; the successful hiring and retaining of new personnel; risks associated with expanding our operations; risks associated with potential infringement of other’s intellectual property; the potential inability to protect our intellectual property; government regulation and legal uncertainties; uncertainties relating to the imposition of sales tax on Internet sales; our ability to utilize our net operating losses; and the effectiveness of our internal controls.

Bluefly, Inc. (MM) (NASDAQ:BFLY)
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