MySize Brazil will deliver Brazilian retailers, brands, and e-commerce companies access to MySize’s MySizeID sizing solution and its First Look Smart Mirror as well as Santista’s sustainable tech solutions
Sao Paulo,Brazil, and Airport City, Israel – August 24, 2022 – – 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 its joint venture with Santista Têxtil, a pioneering innovator in the Brazilian denim market. The joint venture marks the dedication of both companies to helping the retail industry exceed its sustainability goals through technology, expanding the reach of both Santista and MySize to hundreds of leading Brazilian brands and e-tailers in the country’s $33 billion apparel market.
Santista has 93 years of experience in the Brazilian market and has become a national and global leader in fashion, trends, quality, and innovation by creating premium textiles that use the latest technology and sustainable solutions.
Through the joint venture, MySize’s products will be directly marketed to Santista’s extensive customer base which includes local and international well-known brands. Access to MySizeID can reduce returns for these brands by up to 50% and increase the average size order. In addition, the recently launched First Look Smart Mirror, an interactive, mirror-like touch display for physical stores that offers personalized fit and product recommendations, will be available.
The MySize-Santista joint venture is designed to reduce expenses, boost average order size, and put sustainability front and center. Every year returns cost retailers worldwide a staggering $642.6 billion and only 48% of returns can be resold at full price, while 5 billion pounds of returns end up in landfills. In fact, retailers spend as much as 66% of the price of a product to process a return. MySize’s joint venture with Santista aims to address these issues in a meaningful and effective way, positively impacting businesses and consumers alike.
“Santista is a consolidated brand in the Brazilian market and a leader in using innovative technology and sustainable solutions to improve and advance the fashion industry. Having them as our partner in our joint venture showcases the strength of our solutions and the importance of sizing technology in the retail industry,” said Ronen Luzon, CEO, and Founder of MySize. “Now Brazilian retailers will be able to meet their economic and environmental goals, meeting and exceeding the needs of their customers.”
“MySizeID and FirstLook Mirror are excitingly innovative products that offer attractive advantages to fashion retailers,” said Gilberto Stocche, CEO of Santista. “Focus on sustainability is part of Santista’s DNA, and all of our projects are created with sustainable development, not just in preventing damage to the earth, but improving its health. We believe our joint venture with MySize will do all this while giving customers exactly what they need to foster successful businesses: an effective reverse logistics solution that is proven to significantly reduce returns while bolstering customer experience.”
About Santista Têxtil
Santista Têxtil is an industry of Brazilian origin created in 1929, it is one of the main producers of authentic denim in the country and fabrics for professional clothing. With a positioning that extends from the national to the international market, supporting its customers with specialized teams of product, fashion and laundry consulting. Recognized for 25 years as the TOP OF MIND brand of uniforms in Brazil. Santista Têxtil brings in its DNA innovation, sustainability and tradition in fashion collections updated with global trends in addition to technological products for uniforms.
For more information, visit: www.santistasa.com.br
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.
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Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.
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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
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Brazil Press Contact:
INDEX CONECTADA
Erika Sena • [email protected]
Yasmin Ayache • [email protected]
