Welcome to our dedicated page for My Size news (Ticker: MYSZ), a resource for investors and traders seeking the latest updates and insights on My Size stock.
My Size, Inc. develops AI-driven fashion technology and commerce businesses for brands, retailers and consumers. Its portfolio includes sizing and fit solutions for e-commerce, fashion marketplace operations, apparel resale through Percentil, overstock and distribution activity through Orgad, and footwear wholesale channels.
Company news commonly covers product and platform strategy, international market development, marketplace distribution, circular fashion resale, customer and brand relationships, investor communications, operating updates and Nasdaq listing-compliance matters. Updates also address how My Size connects sizing technology, resale infrastructure and inventory-management activity across the fashion value chain.
MySize (NASDAQ: MYSZ) has expanded its footprint in France by partnering with La Caserne, a prominent incubator for responsible fashion. This collaboration grants over 25 brands access to MySize’s smartphone measurement technology, which aims to enhance sizing accuracy and reduce return rates by up to 50%. As a result, the initiative is expected to significantly lower carbon emissions from returns. The solution will be integrated into websites like DA/DA and Salut Beauté, enhancing the shopping experience and operational efficiency.
MySize (NASDAQ: MYSZ) announced a strategic partnership with Bitrix, Russia's largest eStore platform, to integrate its AI-driven sizing solution. This collaboration aims to provide accurate footwear and apparel sizing, potentially reaching millions of online shoppers. With proven results in reducing returns by up to 50% and increasing order values by 30%, MySize is set to enhance the customer experience for Russian e-commerce retailers. The MySize app leverages smartphone sensors for precise size recommendations, addressing high return rates in the apparel industry.
Custodian Ventures, the largest stockholder of My Size (NASDAQ: MYSZ) with approximately 9.99% ownership, has issued an open letter urging stockholders to unite against the decline in stockholder value and hold the board accountable. This statement precedes the upcoming 2021 Annual Meeting of Stockholders, with the date to be announced. The letter emphasizes the importance of stockholder engagement in corporate governance.
On June 7, 2021, MySize (NASDAQ: MYSZ) announced its partnership with Trutex Schoolwear, a leading UK school uniform retailer. The integration of the MySizeID widget on Trutex's website aims to enhance the online shopping experience by providing accurate size recommendations using MySize's patented technology. By utilizing Trutex's detailed size charts and MySize's algorithms, the solution reportedly ensures proper sizing over 99% of the time, addressing common sizing issues faced by parents.
MySize, Inc. (NASDAQ: MYSZ) announced the successful integration of its MySizeID widget with Levi Strauss & Co. Turkey, resulting in a 47% reduction in return rates. This partnership enhances the online shopping experience by providing accurate size recommendations, utilizing Levi's size charts and MySize's patented algorithms. The integration not only saves on logistics costs but also contributes to sustainability by reducing carbon emissions from returns. The ongoing collaboration aims for further improvements in customer satisfaction and operational efficiency.
MySize, Inc. announced the approval of a patent for its handheld measurement solution by the European Patent Office, following a similar issuance in Japan. This approval is expected to enhance the adoption of MySizeID in Europe, allowing e-commerce shoppers to visualize clothing fits more interactively. The company now holds a total of twelve issued patents and six applications pending globally. MySizeID leverages smartphone sensors for accurate measurements, addressing challenges in online shopping like costly returns and enhancing customer engagement.
MySize, Inc. (NASDAQ: MYSZ) has launched a groundbreaking avatar solution for e-commerce that enhances online shopping by allowing customers to visualize how clothing fits in a gamified experience. This innovation combines MySize's precise sizing technology with an interactive avatar, reducing the high return rates associated with online apparel purchases, which are estimated at 40%. CEO Ronen Luzon emphasizes that this feature could significantly boost customer engagement and loyalty.
MySize, Inc. (NASDAQ: MYSZ) has launched an application that offers direct-to-retailer sizing solutions for online shoppers. This innovative tool allows users to obtain accurate clothing sizes for over 120 retailers, addressing the high return rates in e-commerce, which can reach 40%. By using smartphone sensors, the app enhances the shopping experience, aiming to reduce incorrect size orders. CEO Ronen Luzon emphasizes that this advancement is crucial for improving customer journeys and presents a potential model for future retail operations.
My Size, Inc. (NASDAQ: MYSZ) announced a business update for Q4 2020, highlighting growth in key metrics. The company completed two direct offerings totaling $5.3 million and reported 12 million size recommendations delivered via MySizeID. Their expansion into the uniform and workwear sector includes a partnership with UniformMarket, tapping into a market projected to reach $42.1 billion by 2025. Additionally, they launched a footwear measurement solution aimed at a $20.9 billion market, focusing on sustainability by reducing shipping needs.
MySize, Inc. (NASDAQ: MYSZ) has announced the full integration of its e-commerce shoe sizing solution into retail websites. This feature enhances the online shopping experience and aims to minimize returns, which can reach 40% in footwear sales. With the e-commerce footwear market projected at $21.4 billion in 2021, the integration is timely as it boosts confidence and reduces return costs. The solution is compatible with major e-commerce platforms and has shown to reduce returns by up to 50% and increase order values by 30%, greatly benefiting retailers.