AIRPORT CITY, Israel,
Nov. 8, 2017 /PRNewswire/ -- My
Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE:
MYSZ), developer of proprietary, smartphone measurement
applications, announced today that after approval of its patent in
Russia and Japan, it obtained similar approval in the
U.S. The patent relates to My Size's "Measurement of a Body Part"
technology. The U.S. patent will expire 20 years from the date the
patent was initially filed, or January 20,
2033.
"Registration of the third patent within a short period of time
demonstrates further recognition in our technological innovation
and fills us with professional pride," said Ronen Luzon, CEO of
My Size, Inc. "We are especially pleased with the recognition
from the U.S. Patent and Trademark Office and have filed
applications to protect our patent in other countries as well."
The Measurement of a Body Part application was designed for the
online apparel market. It enables shoppers to always choose the
right size garment on a retailer's website using the accurate
measurements taken with their smart phone of an area of their body.
The application first analyzes the recorded information using big
data, then recommends the appropriate size of an article of
clothing the shopper has selected for consideration on a retailer's
website. All of My Size's technology applications use algorithms
within a smartphone, rather than the smart phone camera, to record
and document body measurements. This method is not only more
accurate, but it also maintains and ensures customer privacy.
According to Fashion United, "the global apparel market is
valued at 3 trillion dollars, 3,000
billion, and accounts for 2 percent of the world's Gross Domestic
Product (GDP)." According to an article published in the Washington
Post, in 2015, "clothing generated $51.5
billion in online sales…" While this market is
enormous, so too is the return rate. According to MarketWatch, in
the United States alone,
$260 billion of goods are returned
each year, and in 2015, 80% of the returns were clothing and
accessories, with $62.4 billion due
to wrong sizes.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ)
(NASDAQ: MYSZ) has developed a unique measurement technology based
on sophisticated algorithms and cutting-edge technology with broad
applications including the apparel, e-commerce, DIY, shipping and
parcel delivery industries. This proprietary technology is
driven by several algorithms which are able to calculate and record
measurements in a variety of novel ways.
To learn more about My Size, please visit our website.
www.mysizeid.com.
Follow us on Facebook, LinkedIn and Twitter.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements are identified by the use of the words "could,"
"believe," "anticipate," "intend," "estimate," "expect," "may,"
"continue," "predict," "potential," "project" and similar
expressions that are intended to identify forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. You should not place undue reliance on
these forward-looking statements. Although we believe that our
plans, objectives, expectations and intentions reflected in or
suggested by the forward-looking statements are reasonable, we can
give no assurance that these plans, objectives, expectations or
intentions will be achieved. Forward-looking statements
involve significant risks and uncertainties (some of which are
beyond our control) and assumptions that could cause actual results
to differ materially from historical experience and present
expectations or projections. Known material factors that could
cause actual results to differ materially from those in the
forward-looking statements include: an active trading market for
our common stock may not develop on NASDAQ; the trading price for
our common stock may fluctuate significantly; and the Company will
continue to be a "controlled company," as defined under NASDAQ
rules, and the interests of our controlling stockholder may differ
from those of our public stockholders. Forward-looking
statements also are affected by the risk factors described in the
Company's filings with the U.S. Securities and Exchange
Commission. Except as required by law, we undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
Press Contact:
Eran Yoels
Rimon, Cohen and Co.
Eran@rcspr.co.il
+972-52-440-8020
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SOURCE My Size Inc