My Size, Inc - MYSZ STOCK NEWS

My Size, Inc. (NASDAQ: MYSZ) has filed a lawsuit in the U.S. District Court for the Southern District of New York against an activist group led by David Lazar, seeking to stop them from misleading shareholders and engaging in an illegal proxy contest. The lawsuit alleges that the group has made false regulatory filings and seeks to take control of the Board. CEO Ronen Luzon emphasized the necessity of legal action to protect shareholder interests and highlighted recent additions to the Board and IP consolidation as steps to strengthen market position.

MySize, Inc. (NASDAQ: MYSZ) announced the integration of its MySizeID solution with Wix eCommerce platforms, allowing retailers to enhance size selection and reduce return costs. This integration also supports platforms like Shopify and WooCommerce, benefiting major brands such as Levi's and Speedo. An internal report indicated that implementing MySize technology increased average order value by 15% and boosted conversion rates by up to 2.75 times. New Wix customers will receive three months of expert support to optimize their MySizeID.

MySize, Inc. (NASDAQ: MYSZ) has introduced a virtual coins feature for its MySizeID widget designed for e-commerce platforms. This feature rewards registered users with redeemable virtual coins for sustainable purchases, which helps reduce return rates and supports eco-friendly shopping.

With significant textile waste issues, the program encourages accurate sizing and enhances customer experience, potentially increasing average order value by up to 30%. Major brands like Levi's and Speedo are already partners in this sustainability initiative.

MySize, Inc. (NASDAQ: MYSZ) announces its new Sizing Trends feature aimed at eCommerce retailers. This tool offers insights into customer sizing trends based on anonymized data from over 100 million measurements. The feature helps retailers optimize size charts to enhance customer fit, potentially reducing returns—which account for 70% of online apparel returns—by up to 50%. MySizeID has partnered with leading brands and platforms, demonstrating a capability to boost average order values by 30%.

MySize, Inc. (NASDAQ: MYSZ) provided a business update for Q2 2021, highlighting key achievements and developments. The company secured its IP portfolio following an asset waiver, leading to improved onboarding processes. Notable successes include a 2.75x increase in conversion rates and a near 15% rise in average order value for brands using MySize solutions. Major brands, such as Levi's and Speedo, reported significant reductions in return rates and increases in average order values. Guy Zimmerman has joined the Board of Directors, enhancing the company's leadership in technology-driven retail solutions.

MySize Inc. (NASDAQ: MYSZ) announced key findings from its Business Intelligence Report for the first half of 2021. The report reveals that retailers using MySize's solutions experienced a 2.75x increase in conversion rates and a 15% rise in average order value (AOV) when the technology was applied to over 40% of their product listings. MySize's technology successfully reduces returns by up to 50%, enhancing consumer confidence and boosting overall sales performance for eCommerce platforms.

Custodian Ventures, the largest stockholder of My Size, Inc. (MYSZ), has nominated four candidates for the Board of Directors, criticizing the current management for poor stock performance and governance. The company recently issued nearly 20% of its outstanding shares to its founder, raising concerns about fiduciary duty breaches. Custodian Ventures has demanded access to company documents to assess this transaction's legitimacy and given the company a deadline of July 6, 2021, to comply. They urge the board to avoid further dilutive share issuances and hold the 2021 Annual Meeting promptly.

MySize Inc (NASDAQ: MYSZ) announced a partnership with Delhivery, India's largest logistics company. This collaboration will implement MySize's AI-driven sizing solution, BoxSize, enhancing operational efficiency by optimizing resource use and reducing emissions. BoxSize features include parcel measurement, barcode scanning, and geolocation tagging, which aim to streamline logistics processes. CEO Ronen Luzon emphasized that this partnership empowers Delhivery employees to improve delivery efficiency, contributing to better resource allocation and environmental sustainability.

MySize Inc. (NASDAQ: MYSZ) is developing an AI-driven sizing solution for the secondhand clothing market. This unique platform aims to reduce return rates by helping online shoppers identify their correct size in pre-owned apparel. With the secondhand market projected to grow to $80 billion by 2029, this initiative addresses a significant demand. Currently, up to 40% of online apparel purchases are returned due to sizing issues, costing retailers billions. MySize leverages smartphone sensors and patented algorithms, positioning itself as a leader in enhancing the online shopping experience.