MySize announces that 7 For All Mankind Brazil will implement MySizeID clothing sizing technology to drive sales, reduce returns and increase environmental sustainability
- AI-driven MySizeID to help 7 For All Mankind (Brazil) customers find the perfect fit, buy with confidence and support the company’s sustainability mission through an easy-to-use mobile phone sizing app
- MySize generates recurring license revenue, as well as transaction revenue based on the number of size recommendations provided by MySizeID
AIRPORT CITY, Israel, August 1, 2022 /PRNewswire/ — My sizeInc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) (“MySize” or the “Company”), an omnichannel e-commerce platform and provider of AI-powered measurement solutions to drive revenue growth and reduce costs for its business customers, announced today have reached an agreement with 7 For all mankind (Brazil)a global high-end clothing brand, to lay off its MySizeID clothing size solution. MySizeID sizing solution should go live for 7 For All Mankind (Brazil) customers in the third quarter of 2022.
MySizeID allows shoppers to generate highly accurate body measurements to find well-fitting clothing and accessories through an app on their mobile phone. MySizeID syncs user’s measurement data with the retailer’s size chart and only presents items for purchase that match their measurements to ensure a proper fit. MySizeID is available for licensing by retailers and downloadable by consumers on iOS and Android operating systems.
70% of returns for clothing purchased online are related to fit, costing retailers worldwide $642.6 billion, and only 48% returns may be resold at full price. Worse, £5bn of returns end up in landfills. MySizeID addresses these financial and environmental challenges while improving the shopping experience for customers.
“We are delighted to be working with a leading brand in Brazil which serves high-end denim fashion savvy customers. 7 For All Mankind’s commitment to continuous improvement in the service of humanity is admirable, and MySizeID is thrilled to partner with them in their mission,” said Ronen Luzon, CEO and Founder of MySize.
Esber HajiCEO of 7 For All Mankind (Brazil), commented, “By implementing MySizeID, an innovative and market-leading sizing solution, we believe we can significantly reduce returns and associated financial and environmental costs. We confidently selected MySizeID based on track record impressive with AI-based technology, ease of use and documented performance results.”
Other leading global brands that have implemented MySizeID have seen a 44% to 50% reduction in returns, a 20% increase in order size, and a 3x increase in transaction value among MySizeID users .
AAbout MySize Inc.
MySize, Inc. (NASDAQ:MYSZ) (TASE:MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-powered measurement solutions to drive revenue growth and lower costs for its business customers. Orgad, its online retail platform, has expertise in e-commerce, supply chain and technology as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touchscreen that offers in-store customers an enhanced shopping experience and contactless payment. FirstLook Smart Mirror expands the reach of MySize in physical stores and is expected to contribute to revenue through unit sales and recurring service fees.
MySize has developed a unique measurement technology based on sophisticated algorithms and state-of-the-art technology with wide applications including apparel, e-commerce, DIY, shipping and parcel delivery industries. This exclusive measurement technology is driven by several algorithms capable of calculating and recording measurements in different ways. To learn more about MySize, please visit our website: www.mysizeid.com.
Please click here for a demonstration of how MySizeID provides a complete sizing solution for the retail industry.
Register here for a free plan of the 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 more information, please visit: our website: www.mysizeid.com.
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. Such statements are identified by the use of the words “may”, “believe”, “anticipate”, “have intends”, “estimates”, “expects”, “may”, “will”, “predict”, “potential”, “projects” and similar expressions 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 or implied by the forward-looking statements are reasonable, we cannot guarantee 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 current expectations or projections. Actual results will differ materially from those indicated in the forward-looking statements and the market price of our common stock may fluctuate significantly. Forward-looking statements are also affected by the risk factors described in the Company’s filings with the United States Securities and Exchange Commission. Except as required by law, we undertake no obligation to publicly update or revise 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 unforeseen events. events.
Or Kles, CFO
SOURCE My Size Inc.