- 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 – August 1, 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 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.
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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
[email protected]
