<SUBMISSION>
<ACCESSION-NUMBER>0001140361-13-023130
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20130523
<FILING-DATE>20130529
<DATE-OF-FILING-DATE-CHANGE>20130529
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Zimmerman Michael
<CIK>0001326156
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-14498
<FILM-NUMBER>13877683
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>900 THIRD AVENUE, 11TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-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>Prentice Capital Management, LP
<CIK>0001326150
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-14498
<FILM-NUMBER>13877684
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>900 THIRD AVENUE, 11TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
<PHONE>(212) 756-8040
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>900 THIRD AVENUE, 11TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<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>0001326150</rptOwnerCik>
            <rptOwnerName>Prentice Capital Management, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>33 BENEDICT PLACE, 2ND FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001326156</rptOwnerCik>
            <rptOwnerName>Zimmerman Michael</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PRENTICE CAPITAL MANAGEMENT, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>623 FIFTH AVENUE, 32ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2013-05-23</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3371959</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0076</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See notes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">On May 23, 2013, Prentice Consumer Partners, LP (&quot;PCP&quot;) entered into a Stock Purchase Agreement pursuant to which it sold the shares of Common Stock of the Issuer reported herein to Runway Acquisition Sub, Inc. in a private transaction.</footnote>
        <footnote id="F2">The shares of Common Stock of the Issuer reported herein were owned directly by PCP.  Prentice Capital Management, LP (the &quot;Investment Manager&quot;) serves as  investment manager to PCP.  Michael Zimmerman (&quot;Mr. Zimmerman&quot;) is responsible for the supervision and conduct of all investment activities of the Investment Manager.</footnote>
        <footnote id="F3">Each of the Investment Manager and Mr. Zimmerman disclaims any beneficial ownership of the shares of Common Stock reported herein to the extent such beneficial ownership exceeds such person's pecuniary interest therein.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>PRENTICE CAPITAL MANAGEMENT, LP   By:  Michael Zimmerman, Investment Manager /s/ Michael Zimmerman</signatureName>
        <signatureDate>2013-05-29</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Michael Zimmerman</signatureName>
        <signatureDate>2013-05-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
