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Bluefly, Inc. (NASDAQ Capital Market: BFLY), a leading online retailer of designer brands, fashion trends and superior value (
www.bluefly.com), today announced that Andrew Russell has been elected to serve as an independent member of the Company’s Board of Directors, effective April 7, 2011.
Andrew Russell is a Partner at the Pilot Group, a middle market private equity firm specializing in broadcasting consumer products, services and digital media. Prior to joining Pilot Group at its inception in 2003, Andy was a Partner at East River Ventures, an early stage venture capital firm in New York, where he focused on digital media. He began his professional career as an Associate with Chemical Securities where he coordinated debt financing for transactions in syndicated bank loan and high yield debt markets. As an entrepreneur at Epinard LLC in New York, he was responsible for conceiving and launching a company to develop and operate upscale hospitality ventures nationwide. His first flagship restaurant with Epinard was Moomba and was referred to by New York Magazine as “The Hottest Spot in New York.” He was a Merit Scholar at Cornell University where he received a Bachelor of Arts in Business and Psychology. He also received a Masters of Business Administration in Finance and Entrepreneurial Management from Columbia University Business School.
Melissa Payner, Chief Executive Officer of Bluefly, commented: “I am pleased to welcome Andy to our Board. His expertise developing and guiding companies in the fast-paced digital media realm and his entrepreneurial spirit are a good fit and complement to our existing Board composition. We expect Andy to make significant contributions to our Company as we continue to focus on further differentiating our unique online platform to drive profitable market share.”
Andrew Russell, Partner at the Pilot Group, commented: “I am delighted to join the Board of Bluefly and work with the management team and the Board as we seek to achieve the Company’s strategic objectives and capitalize on the significant growth opportunities we see ahead for Bluefly.”