Welcome to our dedicated page for My Size news (Ticker: MYSZ), a resource for investors and traders seeking the latest updates and insights on My Size stock.
My Size, Inc. (Nasdaq: MYSZ, TASE: MYSZ) is a cutting-edge technology company headquartered in the USA that has revolutionized measurement technology through sophisticated algorithms. This innovation finds applications across various industries, including apparel e-commerce and DIY projects on smartphones and tablets. Founded to simplify online clothing shopping by reducing the rate of returns due to incorrect sizing, My Size's patented algorithms accurately calculate and record measurements, enabling consumers to find the perfect fit without trying on clothes.
My Size's flagship products, MySizeID and Naiz Fit, offer AI-driven solutions that cater to both online and in-store shoppers. The company has also expanded its portfolio with the FirstLook Smart Mirror, an interactive touch display designed to enhance the in-store shopping experience and facilitate contactless checkouts.
With successful partnerships and collaborations, My Size supports well-known brands like Levi's, Speedo, Dockers, and Perry Ellis, contributing to over 5 million users and 18 million purchases globally. The company boasts a significant reduction in size-related returns, up to 65%, a testament to the efficacy of their solutions.
My Size's recent achievements include the acquisition of Naiz Fit, leading to multiple revenue streams and significant growth. The company reported impressive financial results, with revenues nearly doubling in 2022 to $4.46 million and anticipated to reach approximately $8 million for 2023. Their SaaS solutions for the fashion industry recently won the 'Agile Customer Journey' innovation award at the Paris Retail Week 2023, further cementing their influence in the retail sector.
My Size continues to innovate with new products like Naiz Fit Workforce, targeting the $33 billion workwear market, and integrating Generative AI for enhanced personalization and virtual try-ons. Their commitment to innovation and efficiency positions them as a leader in the fashion-tech industry.
For more information, visit their official website: www.mysizeid.com. Follow them on Facebook, LinkedIn, Instagram, and Twitter.
MySize (Nasdaq: MYSZ) announced that CEO Ronen Luzon will present at the Ladenburg Thalmann Tech Expo on April 27, 2023, at 1:00 PM ET in New York City. The presentation will be available for live viewing via a provided link.
Key highlights include:
- 2022 revenue reached $4.5 million, marking a 3304% increase from 2021.
- Q4 2022 revenue of $2.5 million signals potential revenue doubling in 2023.
- Expanded adoption of AI-driven SaaS solutions by global fashion brands.
- Technologies reduce returns, improve retailer economics, and enhance consumer experiences.
MySize also launched the FirstLook Smart Mirror, enhancing in-store shopping experiences, which is expected to uplift revenues.
MySize, Inc. (NASDAQ: MYSZ) announced the launch of its Naiz Fit sizing solution across all 32 e-commerce sites of the luxury menswear brand Canali in Europe and the US. This partnership allows Canali customers to find their perfect fit using AI-driven technology that requires no measurements from the users. The SaaS agreement is effective immediately, and Naiz Fit has reportedly increased conversion rates by 800% and basket values by 37% for a similar brand. Additionally, the company’s AI technology accurately captures over 20 body measurements via images, enhancing customer satisfaction and sales while reducing returns. CEO Ronen Luzon expressed confidence in Naiz Fit's ability to impact sales positively.
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