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Note 1 - The Company
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3 Months Ended |
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Mar. 31, 2013
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| Nature of Operations [Text Block] |
NOTE
1 – THE COMPANY
Bluefly,
Inc., a Delaware corporation, (the “Company”), is
a leading off-price Internet retailer of designer,
contemporary and private-label apparel and accessories,
providing its customers with unique access to in-season
products at superior values. The Company’s e-commerce
website, www.bluefly.com
(“Bluefly.com”), was launched in
September 1998. In December 2011, the Company expanded
its website portfolio by launching its www.belleandclive.com
website (“Belleandclive.com” and, collectively
with Bluefly.com, the “Websites”), a members-only
shopping destination that presents highly-curated selections
of important brands via limited-time flash sale
events.
In
2011, the Company and A + D Labs LLC (“A + D
Labs”) entered into a limited liability company
operating agreement in connection with the formation of
Eyefly LLC (“Eyefly”), a Delaware limited
liability company, which was initially owned 52% by the
Company and 48% by A + D Labs. Eyefly was formed for the
purposes of developing and operating an e-commerce website
and related online and mobile applications focused on selling
fashionable prescription eyewear directly to consumers.
Eyefly launched its e-commerce website, www.eyefly.com
(“Eyefly.com”), in June 2011. On October 25,
2012, the Company sold its entire 52% controlling membership
interest in Eyefly to A + D Labs as discussed further in Note
3 – Summary of Significant Accounting Policies.
On
January 3, 2012, the Company formed a new wholly-owned
subsidiary EVT Acquisition Co., LLC, a New York limited
liability company (“EVT”), in connection with the
Company’s acquisition of assets. See Note 5 –
Acquisition for additional information.
The
Company operates in one business segment and has no
operations outside the United States. International net sales
for the period March 31, 2013 and 2012 represented 5.6% and
6.1%, respectively, of total net sales.
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