Iconic Eco-Brand Natura Goes Live with MySize's Naiz Fit Sizing Solution for Better Apparel Fit & Better Environment

Rhea-AI Summary

MySize, Inc. (NASDAQ: MYSZ) has successfully launched its Naiz Fit sizing solution with Natura, a Spain-based eco-friendly brand. Customers can now take measurements via the Naiz Fit app, enhancing apparel fit across Natura's 200 stores in Spain, Portugal, Italy, and Andorra. This collaboration aims to significantly cut returns, projected to improve purchase confidence by 40% and reduce returns by 50%. MySize's recent acquisition of Naiz Fit strengthens its presence in the European market, aligning with Natura's sustainability goals. This partnership showcases MySize's commitment to driving growth and cost efficiency in the retail sector.

Positive

• Successful implementation of Naiz Fit sizing solution with Natura enhances customer experience.
• Projected 40% increase in purchases and 50% reduction in returns, improving profitability.
• Strengthens MySize's foothold in the European apparel market post acquisition of Naiz Fit.

Negative

• None.

Reducing size-related returns supports Natura's core value of sustainability

AIRPORT CITY, Israel , Jan. 17, 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 Spain-based Natura has fully implemented and gone live with the Naiz Fit sizing solution, a MySize product.

Customers shopping at Natura's online stores and as well as its 200 physical stores throughout Spain, Portugal, Italy, and Andorra may now use the Naiz Fit app to take their personal measurements and match their ideal fit with Natura's apparel collections.

Natura, which means "the set of elements and forces that make up the universe" in Spanish, is committed to living in harmony with nature and making the world a better place with its unique and environment-friendly products including a broad selection of apparel for women, men, and children. Through the Natura Award, the company has been creating a positive impact around the world by supporting more than 70 humanitarian aid and nature protection projects since 1994.

Chiara Castellano, Head of eCommerce for Natura commented, "Our stated goal since our company's founding has been finding a balance between profits and principles. We are happy to implement the Naiz Fit sizing solution as it powers Natura's core principle of environmental sustainability while also improving our business economics and profits—it really delivers the best of both worlds. Having recently integrated the Naiz Fit solution, we expect our customers to experience even better fit and comfort with clothing purchases at our online and physical stores, thereby significantly reducing returns and associated waste."

"Based on our experience with major leading brands, we know that retail customers who use our sizing solutions shop with confidence, increasing their purchases by nearly 40%, with returns reduced by approximately 50%. We are very pleased to partner with Natura to support their eco-driven mission," stated MySize CEO and Founder, Ronen Luzon.

"This latest customer implementation is a direct result of our acquisition of Naiz Fit in Q3 2022. Their technology and stellar management team have fortified MySize's foothold in the European apparel market," Luzon concluded.  

Naiz Fit and MySize ID are a 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 MySize

FAQ

What is the Naiz Fit sizing solution by MySize?

The Naiz Fit sizing solution is an app that allows customers to take personal measurements to find their ideal fit for apparel.

When did MySize partner with Natura for the Naiz Fit solution?

MySize announced the partnership with Natura on January 17, 2023.

What benefits does the Naiz Fit solution provide for Natura customers?

The Naiz Fit solution is expected to increase purchase confidence by 40% and reduce returns by 50%, enhancing the shopping experience.

How many physical stores does Natura have where Naiz Fit is implemented?

Natura has 200 physical stores across Spain, Portugal, Italy, and Andorra implementing the Naiz Fit solution.

What stock symbol is associated with MySize, Inc.?

The stock symbol for MySize, Inc. is MYSZ.