Innovative SaaS solutions for the fashion industry solve problems related to sizing and fit at several points along the fashion value chain—from design to retail commerce
AIRPORT CITY, Israel – October 3, 2023 – 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 Spain-based Naiz Fit received the “Agile Customer Journey” innovation award at Paris Retail Week 2023, one of the most significant events in the French retail sector attended by 20,000 professionals.
The Paris Retail Awards celebrates the finest retail innovations across eight distinct business categories. The competition’s primary objective is to recognize companies that provide effective solutions to address the diverse challenges faced by players in the retail and e-commerce sectors.
This prestigious event is a powerful springboard for the winners, propelling them toward greater recognition and new contracts.
Naiz Fit was recognized by the Paris Retail Awards for its suite of SaaS solutions that help the fashion industry reduce size-related returns. Smart Catalogue helps fashion designers create patterns that optimize fit by extracting qualitative and quantitative data on people with different body morphologies. Naiz Fit helps increase conversion rates and reduce size-related returns by addressing sizing challenges at the design stage. The Naiz Fit e-commerce sizing solution, a customer-facing tool that helps shoppers find the perfect fit at their favorite e-commerce stores, has resulted in up to a 65% reduction in size-related returns compared to shoppers who did not use the solution at the same stores and for the same SKUs.
“Winning the Agile Customer Journey innovation award at Paris Retail Week 2023 is a tremendous honor and highlights the value we bring to customers around the world,,” stated Naiz Fit CEO and Co-Founder Borja Cembrero. “Our Naiz Fit team comes from the fashion industry, from pattern making to design and tailoring through retail. We know exactly what data brands need to provide their customers the best shopping experience, and we are very pleased that major retailers who have adopted our technology are reaping the benefits.”
MySize and Naiz Fit sizing solutions are used by designers and retailers globally, including brands such as Desigual, Moschino, Levi’s, Superdry, and Speedo. More than 5 million people have purchased nearly 18 million items using the MySizeID and Naiz Fit apparel sizing solutions, which are available in 13 languages on e-commerce sites worldwide.
MySize CEO and Founder, Ronen Luzon, added, “Our award-winning solutions are making a bigger impact each day on the environment and commerce by reducing size-related returns, improving business efficiencies, and enhancing the customer’s shopping experience. We are pleased to receive this latest award that recognizes the value of our technology for the fashion retail industry.”
About the Paris Retail Awards
Each year, the Paris Retail Awards reward the best retail innovations for each business issue – Omnichannel Commerce, Marketing, Logistics, CSR, Marketplaces, New Payments, Agile Customer Journey and Data.
The objective of this competition is to identify players who offer effective solutions to meet the business challenges faced by players in the retail and e-commerce sectors. For the winners, this event is a real springboard towards notoriety, the signing of new contracts or a potential fund raising.
About MySize Inc.
MySize, Inc. (Nasdaq: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions, including MySizeID and recently acquired Naiz Fit 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 with 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.
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, including statements related to the acquisition, expected revenues, and the expected closing of the acquisition. 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 may 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]
