Naiz Fit, a My Size Inc Company, Unveils Groundbreaking Generative AI Strategies to Revolutionize Fashion Tech
AIRPORT CITY, Israel – February 22, 2024 – My Size Inc. (Nasdaq: MYSZ) (TASE: MYSZ.TA), a leading omnichannel e-commerce platform and innovator in AI-driven measurement solutions, is excited to announce the latest advancements from its subsidiary, Naiz Fit. Embracing the future of fashion technology, Naiz Fit is pioneering the integration of Generative Artificial Intelligence (AI) into its services, setting a new standard for personalized and interactive shopping experiences in the fashion industry.
Innovating with Natural Language Models: Naiz Fit is harnessing the power of advanced natural language processing models and multi-agent environments, such as Crew AI and Autogen, to introduce an unparalleled level of personalization in product recommendations and filtering. This cutting-edge approach allows for intuitive searches based on occasions or specific queries like “I have a party” or “What goes best with my jeans”. By developing specialized agents—each an expert in brand knowledge, fashion trends, or size and fit—Naiz Fit is able to aggregate a tailored product reel that not only matches individual style preferences but also considers past purchases, body figures, fits and tastes.
Revolutionizing with Image Generation Models: Naiz Fit is breaking barriers by enabling virtual try-ons directly from customers’ photos. This innovative feature eliminates the need for 3D garment modeling, leveraging existing product images for a seamless integration. Brands can now offer their customers the ability to virtually mix and match garments, visualizing how different items pair together. Furthermore, Naiz Fit aims to extend this immersive experience to physical retail spaces through smart mirrors and digital points of sale equipped with cameras, enhancing the in-store shopping journey.
A Leap Towards Futuristic Fashion Retail: “At My Size, we are committed to driving innovation and redefining the retail experience through technology,” stated Ronen Luzon, Founder and CEO of My Size Inc. “The integration of Generative AI into Naiz Fit’s offerings represents a significant milestone in our journey, offering unprecedented personalization and engagement to both brands and consumers. This is just the beginning of how we envision the future of fashion tech.”
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 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]
