<SUBMISSION>
<ACCESSION-NUMBER>0001209191-13-029246
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20130523
<FILING-DATE>20130528
<DATE-OF-FILING-DATE-CHANGE>20130528
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>QUANTUM INDUSTRIAL PARTNERS LDC ET AL
<CIK>0000922382
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-14498
<FILM-NUMBER>13876540
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>888 SEVENTH AVE
<STREET2>33RD FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10106
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>QIH MANAGEMENT LLC
<CIK>0001237658
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-14498
<FILM-NUMBER>13876539
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O SOROS FUND MANAGEMENT LLC
<STREET2>888 SEVENTH AVENUE 31ST FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10106
<PHONE>2122626300
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>QIH MANAGEMENT INVESTOR LP
<CIK>0001237660
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-14498
<FILM-NUMBER>13876537
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O SOROS FUND MANAGEMENT LLC
<STREET2>888 SEVENTH AVENUE 31ST FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10106
<PHONE>2122626300
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>BLUEFLY INC
<CIK>0001030896
<ASSIGNED-SIC>5961
<IRS-NUMBER>133612110
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0403
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>42 WEST 39TH ST
<CITY>NEW YORK
<STATE>NY
<ZIP>10018
<PHONE>2129448000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>42 WEST 39TH ST
<CITY>NEW YORK
<STATE>NY
<ZIP>10018
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PIVOT RULES INC
<DATE-CHANGED>19970305
</FORMER-COMPANY>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>SOROS FUND MANAGEMENT LLC
<CIK>0001029160
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-14498
<FILM-NUMBER>13876538
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>888 SEVENTH AVENUE
<STREET2>33RD FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10106
<PHONE>(212) 872-1054
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>888 SEVENTH AVENUE
<STREET2>33RD FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10106
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c545494_4x1.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2013-05-23</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001030896</issuerCik>
        <issuerName>BLUEFLY INC</issuerName>
        <issuerTradingSymbol>BFLY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000922382</rptOwnerCik>
            <rptOwnerName>QUANTUM INDUSTRIAL PARTNERS LDC ET AL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>KAYA FLAMBOYAN 9</rptOwnerStreet1>
            <rptOwnerStreet2>WEILLEMSTAD</rptOwnerStreet2>
            <rptOwnerCity>CURACAO</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237658</rptOwnerCik>
            <rptOwnerName>QIH MANAGEMENT LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>888 SEVENTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>33RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10106</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001029160</rptOwnerCik>
            <rptOwnerName>SOROS FUND MANAGEMENT LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>888 SEVENTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>33RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10106</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237660</rptOwnerCik>
            <rptOwnerName>QIH MANAGEMENT INVESTOR LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>888 SEVENTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>33RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10106</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2013-05-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6480070</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.0076</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These securities are held for the benefit of Quantum Industrial Partners LDC, an exempted limited duration company formed under the laws of the Cayman Islands (&quot;QIP&quot;).  QIH Management Investor, L.P., an investment advisory firm organized as a Delaware limited partnership (&quot;QIHMI&quot;), is a minority shareholder of, and is vested with investment discretion with respect to portfolio assets held for the account of, QIP.  The sole general partner of QIHMI is QIH Management LLC, a Delaware limited liability company (&quot;QIH Management&quot;).  Soros Fund Management LLC, a Delaware limited liability company, is the sole managing member of QIH Management.</footnote>
    </footnotes>

    <remarks>The filing of this statement shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of any securities
not held directly for its account for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise.

Reference is made to the joint filing information statement attached hereto as Exhibit 99.1</remarks>

    <ownerSignature>
        <signatureName>/s/ Jodye Anzalotta, as Attorney-in-Fact of Quantum Industrial Partners LDC et al</signatureName>
        <signatureDate>2013-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jodye Anzalotta, as Assistant General Counsel of Soros Fund Management LLC, which is the Managing Member of QIH Management LLC</signatureName>
        <signatureDate>2013-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jodye Anzalotta, as Assistant General Counsel of Soros Fund Management LLC</signatureName>
        <signatureDate>2013-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jodye Anzalotta, as Assistant General Counsel of Soros Fund Management LLC, which is the Managing Member of QIH Management LLC, which is the general partner of QIH Management Investor, L.P.</signatureName>
        <signatureDate>2013-05-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c545494_99x1.htm
<DESCRIPTION>ADDITIONAL EXHIBITS
<TEXT>

<html>
<head>
     <title>Exhibit 99.1</title>
</head>
<body>
<PRE>


                              JOINT FILING INFORMATION

Reporting Person:      QIH MANAGEMENT INVESTOR L.P.

Address:               888 SEVENTH AVENUE
                       33RD FLOOR
                       NEW YORK, NY 10106

Designated Filer:      QUANTUM INDUSTRIAL PARTNERS LDC ET AL

Issuer and Symbol:     BLUEFLY INC (BLFY)

Date of Event
Requiring Statement:   5/23/2013

Signature:             /s/ Jodye Anzalotta as Assistant General Counsel of
                       Soros Fund Management LLC, which is the Managing
                       Member of QIH Management LLC, which is the general
                       partner of QIH Management Investor, L.P.
                       ---------------------------------------------------------
                       Jodye Anzalotta, as Assistant General Counsel of
                       Soros Fund Management LLC, which is the Managing
                       Member of QIH Management LLC, which is the
                       general partner of QIH Management Investor, L.P.

Reporting Person:      QIH MANAGEMENT LLC

Address:               888 SEVENTH AVENUE
                       33RD FLOOR
                       NEW YORK, NY 10106

Designated Filer:      QUANTUM INDUSTRIAL PARTNERS LDC ET AL

Issuer and Symbol:     BLUEFLY INC (BLFY)

Date of Event
Requiring Statement:   5/23/2013

Signature:             /s/ Jodye Anzalotta, as Assistant General Counsel of
                       Soros Fund Management LLC, which is the Managing
                       Member of QIH Management LLC
                       ---------------------------------------------------------
                       Jodye Anzalotta, as Assistant General Counsel of
                       Soros Fund Management LLC, which is the Managing
                       Member of QIH Management LLC

Reporting Person:      SOROS FUND MANAGEMENT LLC

Address:               888 SEVENTH AVENUE
                       33RD FLOOR
                       NEW YORK, NY 10106

Designated Filer:      QUANTUM INDUSTRIAL PARTNERS LDC ET AL

Issuer and Symbol:     BLUEFLY INC (BLFY)

Date of Event
Requiring Statement:   5/23/2013

Signature:             /s/ Jodye Anzalotta, as Assistant General Counsel of
                       Soros Fund Management LLC
                       -------------------------------------------------------
                       Jodye Anzalotta, as Assistant General Counsel of
                       Soros Fund Management LLC


</PRE>
</body>
</html>
</TEXT>
</DOCUMENT>
</SUBMISSION>
