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) has partnered with luxury British fashion brand Temperley London to integrate its MySizeID apparel sizing solution. This collaboration aims to enhance customer experience by providing accurate body measurements through a mobile app, ensuring proper fit and potentially reducing return rates. The initiative aligns with Temperley London's commitment to sustainability, as it helps optimize product fit, thus benefiting both the environment and the brand's economics. MySize continues to expand its innovative solutions in e-commerce, aiming for growth and efficiency.
MySize, Inc. (NASDAQ: MYSZ) recently highlighted its FirstLook Smart Mirror featured on Israeli Channel 13, showcasing its capabilities as an innovative retail tool. The mirror enhances in-store shopping experiences through contactless checkout and personalized recommendations. With rising demand for hybrid shopping—reported by IBM—one in four consumers prefers this method. MySize received strong interest from existing and potential clients, positioning itself to capitalize on evolving shopping habits. The technology is poised to boost revenues through unit sales and service fees.
MySize, Inc. (NASDAQ: MYSZ) has received a 180-day extension from Nasdaq to comply with the minimum bid price of $1.00 per share, now due by January 2, 2023. The company failed to meet the requirement after initial notification on January 3, 2022. If the stock price exceeds $1.00 for 10 consecutive business days, compliance will be confirmed. CEO Ronen Luzon expressed optimism about the company's revenue growth, projecting $5 million in revenue for 2022, significantly higher than in previous years.
MySize (NASDAQ: MYSZ) will showcase its innovative FirstLook Smart Mirror at Product Innovation Apparel New York 2022 on June 28–29, aimed at enhancing retail experiences. This AI-driven solution offers features like personalized fit suggestions, 3D avatar try-ons, and self-checkout, accessible through physical and online retail environments. The product is available for purchase or lease, with monthly fees. The CEO emphasizes its potential to transform fashion retail.
MySize (NASDAQ: MYSZ) reported a remarkable 1400% revenue increase in Q1 2022, reaching $404,000, driven by the acquisition of Orgad. The company maintains a 2022 revenue guidance of at least $5 million. Despite growth, MySize faced an increased operating loss of $2.1 million and a net loss of $2.2 million. The cash balance stood at $7.8 million as of March 31, 2022, signaling solid liquidity. The launch of FirstLook Smart Mirror aims to enhance customer experience.
MySize, Inc. (NASDAQ: MYSZ) released a shareholder letter from CEO Ronen Luzon, highlighting the company's focus on AI-driven measurement solutions for e-commerce. For 2021, MySize reported revenues of $131,000, down from $142,000 in 2020, attributed to a drop in one-time project fees. The company noted significant strides in licensing agreements and partnerships with major retailers like Levi's and Lacoste. Innovations like the FirstLook Smart Mirror aim to enhance retail experiences, while the acquisition of Orgad could accelerate growth with greater access to capital. Current cash stands at $10.7 million.
MySize, Inc. (NASDAQ: MYSZ) has acquired Orgad, an omnichannel e-commerce platform with a global presence, including the U.S. and Europe. Orgad generated approximately $2.5 million in revenue in 2021 and operates profitably. The acquisition aims to enhance MySize’s direct e-commerce capabilities by integrating MySizeID into Orgad’s platform, expected to reduce costly returns and increase operational profits. The transaction involves cash payments of up to $1 million and 2,790,049 shares of MySize common stock, with additional earn-out payments based on revenue targets.
MySize, Inc. (NASDAQ: MYSZ) has launched the MySizeID FirstLook Smart Mirror, an innovative interactive display designed to enhance the in-store shopping experience. This product allows customers to receive personalized size recommendations and streamline contactless checkout. The Smart Mirror was positively received at the NRF 2022 event and integrates with GK Software's solutions. Priced between $8,000 and $12,000, with a $160 monthly service fee, it aims to increase sales conversions and reduce return rates within physical retail environments.
My Size, Inc. (NASDAQ: MYSZ) has appointed Javier Brandwain as its first Chief Commercial Officer. Brandwain brings extensive experience from leading roles in the fashion and retail industries, recently at 7 For All Mankind. His expertise will drive business development and expansion, particularly targeting new markets. With over 1,000 retail clients, My Size aims to leverage its $10 million cash balance for accelerated revenue growth. The leadership change is seen as pivotal in boosting global sales efforts and enhancing MySizeID's value in e-commerce.
FAQ
What is the current stock price of My Size (MYSZ)?
What is the market cap of My Size (MYSZ)?
What does My Size, Inc. do?
What are My Size's main products?
How has My Size impacted the fashion industry?
What recent achievements has My Size accomplished?
How does My Size generate revenue?
What financial growth has My Size experienced?
Who are some of My Size's notable partners?
What is My Size's latest innovation?
Where can I learn more about My Size?
How is My Size contributing to sustainability?
