- MySizeID implemented on Levi's ecommerce stores in the
U.S. and six European countries
- Reduced womenswear returns by 47% and menswear by 44% for
Levi's
AIRPORT CITY, Israel, Dec. 15,
2022 /PRNewswire/ -- 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 that an article published in Modern Retail,
a leading industry trade publication, titled "Levi's adds more
sizing features to its website in DTC sales push" was ranked one of
the "most-clicked stories" in the National Retail Federation's
newsletter on December 14, 2022.
According to the article, brands including Levi's and Nike,
which are building their direct-to-consumer (DTC) business, are
investing more in digital sizing solutions to address the costs of
processing returns.
The article states:
In response, Levi's invested in a predictive algorithm called
"What's My Size," where shoppers enter their weight, height and
gender and are given a size prediction. "The algorithm will
recommend the best size to select based on the knowledge of the
Levi's size charts as well as the understanding of the consumers'
body measurements," said Lasisz. [Lara Lasisz,
direct-to-consumer innovation lead at Levi Strauss & Co]
A Levi Strauss & Co. blog post cites roughly 40% of all
online sales returns stem from size and fit issues, and that one of
Levi's key innovation priorities is finding the right technology to
help people find the perfect fit. The post describes the MySizeID
feature on Levi's ecommerce sites.
"The apparel retail industry is at a tipping point in addressing
the pressing need to adopt technologies that help shoppers gain the
benefits of a physical dressing room experience when shopping
online," stated MySize CEO and Founder, Ronen Luzon. "Determining the correct size and
fit is a challenge for online apparel retailers and brands looking
to increase their DTC sales. MySizeID directly addresses this
issue, delivering a better experience for shoppers while
helping retailers and brands improve their economics and customer
satisfaction levels."
MySize's sizing solutions, MySizeID and Naiz Fit, are
software-as-a-serve (SaaS) products offered to fashion brands and
retailers worldwide.
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.
We routinely post information that may be important to investors
in the Investor Relations section of our website. Follow us
on Facebook, LinkedIn, Instagram,
and Twitter.
Please click here for a demonstration of how MySizeID
provides a full sizing solution for the retail industry.
Register here for the MySizeID solution for your
online store and here for the Naiz Fiz solution.
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
ir@mysizeid.com
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SOURCE My Size Inc.