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 expanded its footprint in France by partnering with La Caserne, a prominent incubator for responsible fashion. This collaboration grants over 25 brands access to MySize’s smartphone measurement technology, which aims to enhance sizing accuracy and reduce return rates by up to 50%. As a result, the initiative is expected to significantly lower carbon emissions from returns. The solution will be integrated into websites like DA/DA and Salut Beauté, enhancing the shopping experience and operational efficiency.
MySize (NASDAQ: MYSZ) announced a strategic partnership with Bitrix, Russia's largest eStore platform, to integrate its AI-driven sizing solution. This collaboration aims to provide accurate footwear and apparel sizing, potentially reaching millions of online shoppers. With proven results in reducing returns by up to 50% and increasing order values by 30%, MySize is set to enhance the customer experience for Russian e-commerce retailers. The MySize app leverages smartphone sensors for precise size recommendations, addressing high return rates in the apparel industry.
Custodian Ventures, the largest stockholder of My Size (NASDAQ: MYSZ) with approximately 9.99% ownership, has issued an open letter urging stockholders to unite against the decline in stockholder value and hold the board accountable. This statement precedes the upcoming 2021 Annual Meeting of Stockholders, with the date to be announced. The letter emphasizes the importance of stockholder engagement in corporate governance.
On June 7, 2021, MySize (NASDAQ: MYSZ) announced its partnership with Trutex Schoolwear, a leading UK school uniform retailer. The integration of the MySizeID widget on Trutex's website aims to enhance the online shopping experience by providing accurate size recommendations using MySize's patented technology. By utilizing Trutex's detailed size charts and MySize's algorithms, the solution reportedly ensures proper sizing over 99% of the time, addressing common sizing issues faced by parents.
MySize, Inc. (NASDAQ: MYSZ) announced the successful integration of its MySizeID widget with Levi Strauss & Co. Turkey, resulting in a 47% reduction in return rates. This partnership enhances the online shopping experience by providing accurate size recommendations, utilizing Levi's size charts and MySize's patented algorithms. The integration not only saves on logistics costs but also contributes to sustainability by reducing carbon emissions from returns. The ongoing collaboration aims for further improvements in customer satisfaction and operational efficiency.
MySize, Inc. announced the approval of a patent for its handheld measurement solution by the European Patent Office, following a similar issuance in Japan. This approval is expected to enhance the adoption of MySizeID in Europe, allowing e-commerce shoppers to visualize clothing fits more interactively. The company now holds a total of twelve issued patents and six applications pending globally. MySizeID leverages smartphone sensors for accurate measurements, addressing challenges in online shopping like costly returns and enhancing customer engagement.
MySize, Inc. (NASDAQ: MYSZ) has launched a groundbreaking avatar solution for e-commerce that enhances online shopping by allowing customers to visualize how clothing fits in a gamified experience. This innovation combines MySize's precise sizing technology with an interactive avatar, reducing the high return rates associated with online apparel purchases, which are estimated at 40%. CEO Ronen Luzon emphasizes that this feature could significantly boost customer engagement and loyalty.
MySize, Inc. (NASDAQ: MYSZ) has launched an application that offers direct-to-retailer sizing solutions for online shoppers. This innovative tool allows users to obtain accurate clothing sizes for over 120 retailers, addressing the high return rates in e-commerce, which can reach 40%. By using smartphone sensors, the app enhances the shopping experience, aiming to reduce incorrect size orders. CEO Ronen Luzon emphasizes that this advancement is crucial for improving customer journeys and presents a potential model for future retail operations.
My Size, Inc. (NASDAQ: MYSZ) announced a business update for Q4 2020, highlighting growth in key metrics. The company completed two direct offerings totaling $5.3 million and reported 12 million size recommendations delivered via MySizeID. Their expansion into the uniform and workwear sector includes a partnership with UniformMarket, tapping into a market projected to reach $42.1 billion by 2025. Additionally, they launched a footwear measurement solution aimed at a $20.9 billion market, focusing on sustainability by reducing shipping needs.
MySize, Inc. (NASDAQ: MYSZ) has announced the full integration of its e-commerce shoe sizing solution into retail websites. This feature enhances the online shopping experience and aims to minimize returns, which can reach 40% in footwear sales. With the e-commerce footwear market projected at $21.4 billion in 2021, the integration is timely as it boosts confidence and reduces return costs. The solution is compatible with major e-commerce platforms and has shown to reduce returns by up to 50% and increase order values by 30%, greatly benefiting retailers.
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