In 1997, the company lost $381,000. Within a matter of months, however, Seiff decided to exit the golf apparel business entirely and dramatically shift the focus of his company. "In 1994, Pivot Corporation became Pivot Rules, Inc., and in December of that year the company's original unnamed investors sold out to Seiff and his management team. Filings associated with the offering indicated that revenues grew from $2.2 million in 1992 to $8.6 million in 1996, when the company recorded a net profit of $135,000. From these seeds, Seiff conceived of a line of golf-inspired sportswear, clothing that, in his words, was suitable for "the front nine and the backyard." In 1996, the company also decided to eliminate its women's sportswear collection, which accounted for less than 13 percent of total sales, although it continued to sell some women's clothing on a contractual basis.In September 1997, Pivot moved its corporate headquarters and showroom to a larger space in midtown Manhattan.
Founded in 1998, Bluefly, which specializes in discounted men’s and women’s clothing and accessories, as well as beauty and home furnishings, completed transferring its marketplace on the Mirakl platform by the end of November 2018. As the clothing line became established, Seiff hired a longtime friend, James Hilford, to help out. It was while he was looking into a acquisition candidates for Founders that Seiff, who had never played golf, became familiar with golf apparel. You have to work with the buying and sales team, to ensure product continues to move.How would you describe the pace of work at Bluefly?What questions did they ask during your interview at Bluefly? Bluefly started off 2001 facing negative publicity, as Barron's Online ranked the firm as number two on its "Burn Victims," a list of companies with the highest cash burn rate. The company sold the Pivot Rules brand and trademarks, and in October 1998 changed its name to Bluefly, Inc.When the Bluefly web site opened for business on September 8, 1998, it offered items from 40 designers, including apparel from such well-known brands as Ralph Lauren, Tommy Hilfiger, J. "Blue" was added because it conveyed a friendly personality. The Bluefly.com site was launched in 1998 and has yet to have a profitable year.Written by Fashion Stylist (Former Employee) from New York, NY on April 6, 2017As a freelance fashion stylist for recording artists and magazine, Bluefly was a great start in learning the e-commerce wardrobe styling industry. Welcome to Marie Oliver. Establishing an online presence was of such great importance that Seiff and his staff worked virtually around the clock, so that by September 1998 Pivot launched its ecommerce site, bluefly.com. Bluefly strives to be the store of first resort for fashion by offering the most compelling combination of selection, value, service, and convenience.Bluefly, Inc. operates an Internet outlet store (bluefly.com) for designer apparel and upscale home accessories that the company claims to sell at prices as much as 30 to 75 percent cheaper than retail. YOOX NET-A-PORTER Group is an Italian online fashion retailer created on 5 October 2015 after the merger between Yoox Group and Net-a-porter Group (NAP).. Yoox was originally founded by Federico Marchetti in Milan in 2000, and Net-a-Porter was founded by Natalie Massenet in London in 2000. In February 1999, Bluefly raised $10.2 million through the exercise of warrants and underwriter options connected to the Pivot Rules' initial public offering of May 1997. In that first month, the company shipped a mere 96 orders, but just three months later, in December, Bluefly shipped more than 2,700 orders.
(Its partner, A + D Labs owns the rest.)
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