MySize's Apparel Sizing Solutions Achieve Key Milestones: 35 Million Size Recommendations with 18 Million Items Sold Worth €790 Million
Naiz Fit and MySizeID reduced size related apparel returns by up to 65%
AIRPORT CITY, Israel, Aug. 10, 2023 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced its Naiz Fit and MySizeID ecommerce apparel sizing solutions, which help shoppers find the perfect fit, achieved several key milestones including:
Up to 65% reduction in size-related returns compared to shoppers who did not use MySize's sizing solutions for the same SKUs at the same online stores
5 million people are using Naiz Fit and MySizeID worldwide
35.6 million size recommendations have been made using Naiz Fit and MySizeID
17.9 million items have been purchased using MySizeID and Naiz Fit through a total of 7 million orders
Over 100,000 items are now available for sizing using Naiz Fit and MySizeID
MySize's sizing solutions are available in 13 languages on ecommerce sites worldwide
"We are incredibly proud of MySizeID and Naiz Fit for having achieved these milestones. In addition to happy online shoppers and improved economics for retailers, these numbers have a profound impact on carbon footprint reduction," stated MySize CEO Ronen Luzon. "Our latest data show size related returns were reduced by up to 65% when shoppers used Naiz Fit or MySizeID. This is due to continuous improvements of our AI and machine learning tool which optimizes performance based on increased traffic and a 360 degree view of retailers' business. It's clear why so many of the world's top brands are using our apparel sizing solutions."
Retailers using MySizeID and Naiz Fit to give their shoppers a superior online experience include Levi's, Moschino, Superdry, Speedo, Canali, Dockers, U.S. Polo Association, Desigual, El Ganso, Alberta Ferreti, and many more.
About MySize Inc.
MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions including MySizeID and recently acquired Naiz Fit to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize's reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.
MySize has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications, including the apparel, e-commerce, DIY, shipping, and parcel delivery industries. This proprietary measurement technology is driven by several algorithms that are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit our website: www.mysizeid.com.
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Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.
To learn more about MySize and for additional information, please visit: our website: www.mysizeid.com.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to the acquisition, expected revenues, and the expected closing of the acquisition. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Investor Contacts:
Or Kles, CFO
ir@mysizeid.com
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SOURCE My Size Inc.
