Bluefly.com is On the Go!
Business Wire - February 24, 1999 08:17
NEW YORK--(BUSINESS WIRE)--Feb. 24, 1999--
Deal with GO Network(TM) Reflects Bluefly's Commitment to Signing Key Portal Agreements
Bluefly, Inc. (NASDAQ SmallCap: BFLY), a leading Internet retailer of designer fashions at outlet store prices (www.bluefly.com), announced today that it has signed a deal with Infoseek's GO Network, a major Internet portal designed to connect people with the things they care about most, to become one of up to two Gold Merchants in the Apparel & Jewelry area of the Go Network Shopping Center. Under the terms of the deal, GO Network will prominently feature Bluefly's selection of top, name brand clothing and fashion accessories on the GO Shop home page and throughout the Apparel & Jewelry department and search results pages.
"Bluefly is committed to working with the best portal companies and securing key areas of online real estate in an effort to establish itself as the premier place to shop for name brand apparel, fashion accessories and house and home products at outlet store prices," said Jonathan Morris, executive vice president of Bluefly, Inc. "GO Network's technology foundation and marketing expertise makes it a merchandising powerhouse and an entity with which we are thrilled to work," Morris added.
GO Network marks the fifth significant portal relationship Bluefly has established since its debut six months ago. In addition to its relationship with Go Network, Bluefly has formed strategic marketing alliances with America Online, @Home Networks, Lycos, and Yahoo!. "We are committed to doing our best to leverage key areas of online real estate in a fiscally responsible manner," Morris stated. "Each of the deals we do must make economic sense, and I believe we have been able to negotiate very competitive rates for many of these deals in part because we offer portals a one stop solution to provide their customers with the best brand names at discounted prices," Morris added.
"Bluefly is a leader in the online apparel category and was chosen to receive premier placement on GO Network not only because they sell the name brands that people on the Internet are wearing but also because they havedemonstrated a commitment to creating a fun, friendly and innovative way to shop," said B.D. Goel senior vice president of commerce at Infoseek. "We are proud to have Bluefly as part of the launch of GO Shop."
Bluefly, Inc. is a NASDAQ SmallCap public company. Headquartered in New York City, in the heart of the fashion district, Bluefly.com aims to be the most enjoyable way to shop for designer and name brand apparel and accessories at savings up to 75 percent off of retail prices. Its innovative MyCatalog feature is designed to eliminate the "hit-or-miss" aspect of off-price shopping by allowing shoppers to see only those products which are available for sale and match their interests. The online merchant offers a meaningful alternative for consumers looking for service and convenience in an outlet store environment.
This press release may include statements thatconstitute "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-A, 8-K, 10-QSB, and 10-KSB. These risks and uncertainties include, but are not limited to the following: the competitive nature of the business and the potential for competitors with greater resources to enter such business; consumer acceptance of the Internet as a medium for purchasing apparel; recent losses and anticipated future losses; the startup nature of the Internet business; the capital intensive nature of such business (taking into account the need for advertising to promote such business); the Company's limited working capital and need for additional financing; risk of litigation for sale of unauthentic or damaged goods; the successful hiring and retaining of personnel; the dependence on third parties and certain relationships for certain services; the dependence on continued growth of online commerce; rapid technological change; year 2000 issues; online commerce security risks; governmental regulation and legal uncertainties; management of potential growth; and unexpected changes in fashion
trends.
CONTACT: BLUEFLY, Inc., New York
Margaret McCann, (212) 944-8000, x29
Regards,
JM2C |
