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-CM: MYSZ) announced its participation in NRF 2022: Retail's Big Show, taking place from January 16-18, 2022, in New York City. This high-profile event aims to showcase their AI-driven measurement solutions, including the newly launched MySize Smart Mirror, designed to enhance retail shopping experiences. CEO Ronen Luzon emphasized the company's growth, surpassing 1,000 clients in 2021, and the potential of their MySizeID technology to improve conversion rates and reduce returns for retailers.
MySize, Inc. (NASDAQ: MYSZ) announced a partial adjournment of its 2021 Annual Meeting of Stockholders, specifically for Proposal 3 concerning the classification of the Board into three classes with three-year terms. Although this proposal has received over 95% approval from votes cast, it requires more than 50% of all outstanding shares as of November 4, 2021, for final approval. The meeting will reconvene on January 6, 2022, at 10:00 AM ET. Stockholders who haven't voted are encouraged to participate, while those who have submitted proxies do not need to vote again.
My Size, Inc. (NASDAQ: MYSZ) announced a settlement agreement with Todd Ault and related parties, resolving a lawsuit regarding Section 16(b) of the Securities Exchange Act of 1934. The Company agreed to withdraw its lawsuit against the Ault Parties, who in turn have also withdrawn their counterclaim. This settlement eliminates ongoing legal disputes and may allow the company to refocus on its measurement technology business.
MySize, Inc. (NASDAQ: MYSZ) has entered into a partnership with GANT Turkey to integrate MySize's measurement application into GANT's e-commerce platform. This collaboration aims to enhance the online shopping experience by addressing sizing challenges, ultimately reducing return rates and improving profitability for retailers. MySize utilizes patented algorithms to standardize sizing, increasing customer satisfaction. CEO Ronen Luzon emphasizes the potential for growth by extending their technology to other brands within the Maus Frères group.
MySize, Inc. (NASDAQ: MYSZ) announced a major expansion in Russia by partnering with four tier 1 retailers, including Lacoste and SimaLand, along with several others. This move aims to enhance MySize's AI-driven measurement solutions, improving online conversion rates and reducing returns for these retailers. The CEO noted that the pandemic has spurred e-commerce growth in Russia, making this an optimal time for advancement. MySize's proprietary technology supports various industries and significantly enhances user experience and engagement.
MySize, Inc. (NASDAQ: MYSZ) will participate in H.C. Wainwright's 7th Annual Israel Conference on November 15, 2021. The virtual event features company presentations and 1-on-1 meetings. MySize's CEO, Ronen Luzon, will present at 10:30 AM ET, discussing the company's AI-driven measurement solutions aimed at enhancing revenue and reducing costs in sectors like apparel, e-commerce, and shipping. This conference provides a platform to highlight MySize's recent progress and innovations.
My Size, Inc. (NASDAQ: MYSZ) has entered a cooperation agreement with Custodian Ventures LLC, concluding their public campaign and lawsuits. The Company aims to enhance shareholder value through acquisitions while focusing on commercializing MySizeID. CEO Ronen Luzon stated the strategic plan includes new partnerships with Wix eCommerce and others, which could increase market share. The Agreement will be filed with the SEC, and the Company plans to schedule its 2021 Annual Meeting of Stockholders.
MySize, Inc. (NASDAQ: MYSZ) announced its AI-driven measurement solution will be used by Threads, a leading uniform manufacturer in the UAE. Established in 2010, Threads services over 200,000 students across 90 schools. MySize's technology aims to enhance customer experience by providing accurate size recommendations, potentially reducing return rates for Threads, which has faced issues with traditional sizing methods. This integration signifies a strategic partnership that may boost operational efficiency and customer satisfaction.
MySize, Inc. (NASDAQ: MYSZ) announces an Innovation Partnership with GK Software to enhance retail solutions. This collaboration integrates MySize's AI-driven measurement technology into GK Software’s CLOUD4RETAIL platform, aiming to improve customer experience by helping consumers find the perfect fit. GK Software boasts over 346k installations across 65 countries, indicating strong international market presence. The partnership is designed to boost consumer engagement, reduce item returns, and ultimately drive revenue growth for retailers.
My Size, Inc. (NASDAQ: MYSZ) has entered into definitive purchase agreements for the issuance of 2,514,800 shares of its common stock at $1.352 per share, alongside a private placement of 3,772,208 unregistered shares at the same price. The aggregate gross proceeds from both offerings are expected to be approximately $8.5 million, with the offerings closing around October 29, 2021. Additionally, unregistered warrants to purchase 4,715,256 shares will be issued, exercisable at $1.26 per share. The net proceeds will be utilized for general corporate purposes. H.C. Wainwright & Co. is the exclusive placement agent.
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