MySize engaged by Israeli Postal Service to provide new measuring solutions
April 18th, 2017, Airport City, Israel: MySize Inc. (the “Company”) (Nasdaq: MYSZ, TASE: MYSZ), developer of proprietary, smartphone measurement applications, announced today a new cooperation agreement has been signed with the Israeli Post. This agreement calls for MySize to supply the Israeli Postal Service (the “Israeli Post”) with two new services.
MySize solution for the courier market, is proprietary to MySize and our goal is to provide a solution to global Courier market. This application will provide a solution to measure all types of packages using only a smartphone. Based on the package size, the user will be quoted a shipping price and picture of the package dimension.
In addition, The Israel Post has developed relationships in the online fashion apparel markets with fashion retailers and contracted with MySize for solutions to ship the correct size with using our “TrueSize” application.
These technology solutions are being developed in accordance with the specific specifications provided by the Israel Post. A team from the Israel Post will be selected to work on this project with MySize staff.
Although this is a joint cooperation agreement, all IP and new patents developed shall remain the property of the MySize.
Once these solutions are developed MySize will provide The Israel Post with a 3 month trial period. Subsequent to the trial period, the Israeli Post will have the service operational for another 3 months at no charge.
At the end of the second 3 months, an agreement shall be finalized by both parties on the commercial terms of this new service for a non-exclusive agreement with the Israeli Post.
Ronen Luzon, CEO of MySize commented “The Israel Postal Service has been developing new delivery innovations since 2016 based upon the exponential growth of the international on-line package shipping industry. We hope the addition of TrueSize and the courier solutions, can lead to additional savings and benefits that The Israel Post can provide their customers.”
About the Israel Postal Service:
The Israel Post, formerly the Israel Post Authority is a government owned corporation that has 5,000 employees, 700 Post Office branches and a network of 4,262 mailboxes with 1,000 mail trucks.
MySize Inc. (TASE: MYSZ) (NASDAQ: MYSZ) is developing unique measurement technologies based on sophisticated algorithms and cutting edge technology with broad applications including apparel industry, e-commerce, shipping and parcel industry measurement. This proprietary technology is driven by several patent-pending algorithms which 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. Follow us on Facebook, LinkedIn and Twitter.
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