Diesel Brand Fashion Shoppers in Colombia Soon to Get Optimized Fit with MySize's AI-Driven Sizing Solution

Rhea-AI Summary

MySize, Inc. (NASDAQ: MYSZ) announced a partnership with Estudio de Moda S.A.S to implement its MySizeID sizing solution on Diesel's ecommerce platform in Colombia. This initiative supports Diesel's commitment to achieve net-zero GHG emissions by 2030, aiming to reduce the estimated 70% of ecommerce returns related to sizing issues. MySizeID leverages AI to enhance fit accuracy, thereby improving customer satisfaction and operational efficiency.

Positive

• Partnership with Estudio de Moda enhances market presence in Colombia.
• MySizeID expected to significantly reduce size-related returns, potentially enhancing profitability.
• Supports Diesel's environmental goals, aligning with sustainability trends.

Negative

• None.

Implementation of MySizeID supports Diesel's "Stand for the Planet" corporate commitment to reaching net-zero GHG emissions by 2030.

AIRPORT CITY, Israel, Jan. 5, 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 that Estudio de Moda S.A.S., a leading Colombia-based retail company with a portfolio of brands including Diesel, Celio, Superdry, Marithe François Girbaud, Replay, is set to implement the MySizeID sizing solution on its Diesel Colombia ecommerce site.

MySizeID uses sophisticated algorithms and AI to match shoppers with an optimized fit based on a brand's product-specific sizing chart. More accurate size recommendations lead to better fit and reduced size-related returns. An estimated 70% of ecommerce returns are size related, leading to unnecessary environmental and carbon impacts.    

"Estudio de Moda is a trusted Colombian partner to the top fashion brands in the world. Our commitment to the environment matches our passion for fashion," stated Juan Camilo Alvarez, President of Estudio de Moda. "The Diesel for Responsible Living philosophy is the backbone of Diesel's action plan to achieve net-zero GHG emissions by 2030 through its Stand for the Planet program. When looking for a way to reduce size related returns in Colombia, MySizeID was the ideal solution because its performance is backed by solid data."

"We are pleased to work with Estudio de Moda and help Diesel, one of the top denim brands in the world, achieve their environmental goals while delivering the added benefits of more satisfied customers and improved operating economics," commented MySize CEO and Founder, Ronen Luzon. "The numbers speak for themselves. After implementing MySizeID, another denim fashion brand reduced size related returns by approximately 45%."

MySize's sizing solutions, MySizeID and Naiz Fit, are software-as-a-serve (SaaS) products offered to fashion brands and retailers worldwide.

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.

We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and Twitter.

Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.

Register here for the MySizeID solution for your online store and here for the Naiz Fiz solution.

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.

FAQ

What is the partnership between MySize and Diesel?

MySize has partnered with Estudio de Moda to implement its MySizeID sizing solution on Diesel's ecommerce site in Colombia, aimed at optimizing fit for shoppers.

What are the expected benefits of implementing MySizeID for Diesel?

The implementation of MySizeID is expected to drastically reduce size-related returns, improve customer satisfaction, and support Diesel's goal of achieving net-zero GHG emissions by 2030.

How does MySizeID function?

MySizeID utilizes AI algorithms to match shoppers with the best fit by analyzing brand-specific sizing charts, leading to more accurate size recommendations.

When was the partnership announced?

The partnership was announced on January 5, 2023.

What is MySize's stock symbol?

MySize is traded under the stock symbol MYSZ on NASDAQ.