- AI-driven MySizeID to help 7 For All Mankind (Brazil) customers find the perfect fit,
purchase with confidence, and support the company's sustainability
mission through an easy-to-use mobile phone-based sizing
app
- MySize generates recurring licensing revenues, plus
transaction revenues based on the number of size recommendations
provided by MySizeID
AIRPORT CITY, Israel, Aug. 1, 2022
/PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ)
(TASE: MYSZ.TA) ("MySize" or the "Company"), an
omnichannel e-commerce platform and provider of AI-driven
measurement solutions to drive revenue growth and reduce costs for
its business clients, today announced it has entered an agreement
with 7 For All Mankind (Brazil), a
premium global clothing brand, to license its MySizeID apparel
sizing solution. MySizeID sizing solution is expected to go live
for 7 For All Mankind (Brazil)
customers in Q3 2022.
MySizeID enables shoppers to generate highly accurate
measurements of their body to find properly fitting clothes and
accessories through an app on their mobile phone. MySizeID syncs
the user's measurement data to the retailer's sizing chart, and
only presents items for purchase that match their measurements to
ensure a correct fit. MySizeID is available for license by
retailers and download by consumers on both iOS and Android
operating systems.
70% of returns for clothing purchased online is fit-related,
costing retailers worldwide $642.6
billion, and only 48% of returns can be resold at full
price. Worse, 5 billion pounds of returns end up in landfills.
MySizeID addresses these financial and environmental challenges
while improving the shopping experience for customers.
"We are excited to work with a leading brand in Brazil that serves high-end savvy customers
within the denim-fashion field. 7 For All Mankind's commitment to
continuous improvement to serve humanity is admirable, and MySizeID
is pleased to partner with them in their mission," said Ronen
Luzon, CEO, and Founder of MySize. "
Esber Hajli, CEO of 7 For All
Mankind (Brazil), commented, "By
implementing MySizeID, an innovative, market leading sizing
solution, we believe we can significantly reduce returns and its
associated financial and environmental costs. We chose MySizeID
with confidence based on the AI-driven technology's impressive
track record, ease of use, and documented performance results."
Other major global brands that have implemented MySizeID have
seen a 44% to 50% reduction in returns, 20% increase in order size,
and a 3X in transaction value among MySizeID users.
About MySize Inc.
MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) is an omnichannel
e-commerce platform and provider of AI-driven measurement solutions
to drive revenue growth and reduce costs for its business clients.
Orgad, its online retailer platform, has expertise in e-commerce,
supply chain, and technology operating as a third-party seller on
Amazon.com and other sites. MySize recently launched FirstLook
Smart Mirror, a mirror-like touch display that provides in-store
customers an enhanced shopping experience and contactless checkout.
FirstLook Smart Mirror extends MySize's reach into physical stores
and is expected to contribute to revenues through unit sales and
recurring service fees.
MySize 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 that are able to calculate and
record measurements in a variety of novel ways. To learn more about
MySize, 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.
Register here for a free plan of MySizeID solution for
your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for
Android.
To learn more about MySize and for additional information,
please visit: our website: www.mysizeid.com.
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.
Investor Contacts:
Or Kles, CFO
ir@mysizeid.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mysize-announces-7-for-all-mankind-brazil-to-implement-mysizeid-apparel-sizing-tech-to-boost-sales-reduce-returns-and-increase-environmental-sustainability-301596917.html
SOURCE My Size Inc.