My Size to Showcase its Technology at Copenhagen Fashion Summit
My Size will showcase its innovative smartphone measurement technology for apparel sizing, highlighting the environmental benefits of reduced product return rates at world’s leading event on sustainability in the fashion industry
Airport City, Israel, May 01, 2018– My Size, Inc. (the “Company” or “My Size”) (NASDAQ: MYSZ; TASE: MYSZ), the developer and creator of smartphone measurement applications, announced today that it will showcase its innovative smartphone measurement technology for apparel sizing at the annual Copenhagen Fashion Summit
The Company will demonstrate its MySizeID mobile solution to highlight how apparel companies can reduce costs and enhance shopper experience by providing a more efficient sizing solution that cuts down on excessive returns – all while reducing their carbon footprint and becoming more sustainable in their operations.
Established in 2009, the Copenhagen Fashion Summit is the world’s leading event on sustainability in the fashion industry. The event brings together leaders and decision makers for thought-provoking discussions on the most important environmental, social and ethical issues facing the industry and the planet. This year’s summit will take place from May 15th to the 16th 2018 at Copenhagen Concert Hall.
“We are pleased to have the opportunity to engage with leaders in the fashion industry at one of the industry’s world-class events, and to showcase how our technology can address the sustainability issues related to excessive returns and ineffective sizing within the apparel market,” said, Ronen Luzon, CEO, My Size. “Research has shown that a typical journey of a returned good can be about 3,600 miles in length. According to the National Research Foundation , just in transportation alone, returns create measurable environmental problems, with trucks cumulatively burning up to 1.6 billion gallons of fuel to facilitate return shipments in 2017, resulting in 15 million metric tons of carbon dioxide emissions. Our technology can help decrease the environmental impact by reducing returns thereby providing a positive impact on both the bottom line of the business and the environment.”
According to the National Retail Federation , in 2017 11.3% of all purchases were returned, attributable to e-commerce as one of the driving forces. In addition, returned goods in the U.S. amount to five billion pounds of landfill waste each year, and energy use from trucks results in 15 million metric tons of carbon dioxide emissions. It’s crucial for apparel makers to adopt new technologies that can minimize these environmental issues, ensuring sustainable business operations.
My Size offers customized solutions that become critical to eliminating the sizing and measurement issues impacting several burgeoning markets, including retail, parcel delivery, and do-it-yourself (“DIY”) home improvement, seamlessly embedding the core technology behind the Company’s TrueSize™, SizeUp™ and BoxSizeID™ applications into any company’s existing or white label mobile app. The technology provides users with the ability to instantly and accurately measure objects with a quick movement of their mobile phone. The Company’s proprietary and patent-pending algorithms utilize a smartphone’s sensors, combined with anthropometric data, to accurately measure everything from everyday objects to body measurements.
Please click here for a demonstration of the SizeUp “measurement from the air” smart measuring tape, which provides a good example of how SizeIT can be embedded to work in any Android mobile application.
Please click here to download the SizeUp “measurement from the air” smart measuring tape for iOS.
Please click here to download SizeUp “measurement from the air” smart measuring tape for Android.
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.
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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.
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