The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Bluefly is providing more detail about naming Barry Erdos as president, chief operating officer and acting chief financial officer. Incumbent CFO Patrick Barry and senior vice president of operations and technology Deborah Clay will leave Bluefly.
Bluefly Inc.`s new president and chief operations and financial officer has a three-year employment agreement with the online apparel retailer.
Bluefly, No. 131 in the Internet Retailer Top 500 Guide, named Barry Erdos as president, chief operating officer and acting chief financial officer on Jan. 28. Erdos has also been a member of Bluefly’s board of directors since February 2005.
Prior to joining Bluefly, Erdos was president and chief operating officer of Build-a-Bear Workshop Inc. from April 2004 to January 2007. He also served as chief operating officer and a director of Ann Taylor Stores Corp. and Ann Taylor Inc. from November 2001 to April 2004 and as executive vice president and chief financial officer and treasurer from 1999 to 2001. Prior to working at Ann Taylor, Erdos was chief operating officer of J. Crew Group Inc. from 1998 to 1999.
Erdos will be paid an annual base salary of $425,000 and is eligible to receive an annual performance bonus of up to 50% of his annual base pay, Bluefly says.
Erdos replaces long time Bluefly chief operating and financial officer Patrick Barry, who will leave the company in May. In the interim, Barry will continue as a non-executive employee entitled to continuation of his current salary of $350,000 per year through May 2, Bluefly says.
Bluefly also says senior vice president of operations and technology Deborah Clay has resigned and will leave the company effective March 3. No replacement has been named.