Stepping into the positions of CEO and co-chairman for the clothing e-tailer is former Buy.com CEO/president Neel Grover. Sharing the reigns is fellow Buy alumni Greg Giraudi, who’ll serve as Bluefly president.
Grover and Giraudi also hold operating positions with Clearlake Capital Group, which recently completed its purchase of Bluefly.
Noting the loyalty of Bluefly’s four million customers, Grover has declared the 15-year-old company to be “a pioneer in the fashion e-commerce space [that] will greatly benefit from a fresh strategy and renewed sponsorship from Clearlake.”
Since ending his decade-long stint at Buy.com last year, Grover has been a board member of Coastal Contacts Inc. and Japanese e-market operator Rakuten Inc., which purchased the CEO’s former company in 2010 for $250m.
Clearlake’s purchase of Bluefly comes amidst rising monetary woes for the e-tailer, which incurred a net loss of $24.9m during 2012.