AIRPORT CITY, Israel,
July 27, 2020 /PRNewswire/ -- My
Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE:
MYSZ), the developer and creator of smartphone measurement
solutions, and Penti, a global apparel brand with 600 retail stores
in over 35 countries, announced today that apparel sales among
customers using MySizeID were three-times higher than those
customers that did not utilize MySizeID for size recommendations
during a three-month period of March, April and May 2020.
Penti also reported that returns were reduced by approximately 50%
for customers using MySizeID during the same period.
Additionally, MySizeID has been added to Penti's sleepwear apparel
line following the successful rollout within lingerie and
swimwear.
Penti Giyim's CEO Mert
Karaibrahimoğlu, commented, "As Turkey's leading
multi-category retail fashion underwear brand, MySizeID guides our
customers, both in our stores and online, to purchase with
confidence the best fitting apparel items, while also reducing
returns. We are very pleased with the successful results of
MySizeID within lingerie and swimwear and we are expanding into
additional apparel categories. Importantly, MySizeID has increased
our online conversion rates and reduced returns by 50% from March
through May 2020. We remain committed to providing the
highest quality customer experience to our users."
Ronen Luzon, Chief Executive Officer of My Size, commented,
"Penti is a great case study for our patented measurement
technology. Over a period of several months, we generated a
dramatic increase in conversion rates and total purchases among
customers that used MySizeID. We are especially proud of the
significant reduction in returns among MySizeID users, which
otherwise represents an enormous cost to retailers. As of
May, nearly 8% of Penti customers were utilizing MySizeID.
While the uptake has been impressive, there is still significant
room for growth among Penti's estimated four million plus customers
per month who shop on their website."
To learn more about how Penti increased sales and reduced
returns with My Size, read the success story here
For the latest news coverage, please follow the Company on
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About Penti
Headquartered in Istanbul,
Turkey, and backed by the Carlyle Group, Penti is a global
apparel brand with 600 retail stores in over 35 countries. A young,
trendy, and innovative brand, Penti delivers a consistent and
fulfilling brand experience at each and every customer touch point
through its omnichannel approach. Over 4 million customers shop
online monthly for undergarments & intimates, swimwear, and
sleepwear.
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 measurement 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. We routinely
post information that may be important to investors in the Investor
Relations section of our website. Follow us
on Facebook, LinkedIn, Instagram and Twitter.
Please click here for a demonstration of how MySizeID
provides a full sizing solution for the retail industry.
Own a fashion store and want to increase sales as well? Click
here
Register here for a one-month free trial of MySizeID solution
for your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for Android.
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.
Actual results to differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. 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.
U.S. Press Contact:
5W Public Relations
mysizeid@5wpr.com
IR Contact:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: MYSZ@crescendo-ir.com
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SOURCE My Size Inc.