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, 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.
MySize, Inc. (MYSZ) has announced a concurrent registered direct offering and private placement of 441,899 and 540,098 shares of common stock, respectively, priced at $3.055 per share. The total expected gross proceeds from both offerings are approximately $3.0 million. Series A and B warrants will also be issued, with an exercise price of $2.805 per share. Proceeds are intended for general corporate purposes. The offerings are expected to close by January 12, 2023.
MySize, Inc. (NASDAQ: MYSZ) announced its participation in the National Retail Federation's NRF 2023 Retail's Big Show from January 14-17 in New York City. The company will showcase its AI-driven products such as the FirstLook Smart Mirror and digital sizing solutions including MySizeID. The event is recognized as a pivotal gathering for retail innovations aimed at enhancing sustainability and efficiency within the industry.
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.
MySize, Inc. (NASDAQ: MYSZ) announced that its CEO, Ronen Luzon, was interviewed on Newsy's "Morning Rush" on December 27, 2022. The company, known for its AI-driven measurement solutions aimed at e-commerce and retail, highlighted its innovative technology and recent developments, such as the FirstLook Smart Mirror. This touch-display technology is set to enhance customer experiences in physical stores and increase revenues through sales and recurring service fees. MySize continues to focus on driving revenue growth and reducing costs for its business clients.
My Size, Inc. (NASDAQ: MYSZ) has officially regained compliance with Nasdaq's Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. This status follows the stock's closing bid price being at or above $1.00 for ten consecutive business days. The compliance issue is now resolved, and Nasdaq has closed the matter. My Size offers AI-driven measurement solutions aimed at enhancing revenue growth and reducing costs for businesses.
MySize, Inc. (NASDAQ: MYSZ) announced that its CEO, Ronen Luzon, was featured on Newsmax's National Report on December 22, 2022. The discussion highlighted MySizeID, a high-tech sizing solution aimed at reducing online clothing returns. The company leverages AI-driven measurement technology to enhance e-commerce platforms. Recently, it launched the FirstLook Smart Mirror, which enhances in-store shopping experiences. MySize aims to drive revenue growth and cut costs for clients through advanced measurement solutions.
MySize, Inc. (NASDAQ: MYSZ) announced the implementation of MySizeID on Levi's e-commerce platforms in the U.S. and six European countries. This innovation has led to a significant reduction in returns, with womenswear returns down 47% and menswear returns down 44%. An article in Modern Retail highlighted this success and ranked as one of the most-clicked stories in the National Retail Federation's newsletter. MySizeID, an AI-driven sizing solution, aims to improve customer satisfaction while helping brands like Levi's optimize their direct-to-consumer sales.
MySize, Inc. (NASDAQ: MYSZ) recently partnered with Promas during a fashion event in Paris on December 7-8, 2022, to showcase its FirstLook Smart Mirror. This innovative technology enhances the shopping experience by allowing customers to virtually try on clothes, receive personalized size recommendations, and enjoy contactless checkout. The event attracted around 100 influencers and showcased various French menswear brands. MySize offers the Smart Mirror to retailers on a purchase or lease basis, aiming to drive revenue through unit sales and service subscriptions.
MySize has introduced its new Smart Catalogue, a SaaS solution aimed at enhancing fashion design by optimizing clothing patterns for better fit. The initiative, piloted with major brands like Desigual, El Ganso, and Silbon, seeks to reduce the substantial problem of unsold inventory, where nearly 30% of clothing returns are never resold. This innovative tool provides designers with demographic data to create market-specific patterns, potentially boosting inventory performance and customer satisfaction.
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