My Size Stock Price, News & Analysis

My Size, Inc. (NASDAQ: MYSZ) has launched its MySizeID widget in partnership with NOCTURNE, a European women's apparel brand. This integration allows NOCTURNE's customers to easily measure their sizes using their smartphones, enabling an improved online shopping experience. The MySizeID app aims to reduce product returns caused by incorrect sizing, thus enhancing customer satisfaction and increasing revenue for NOCTURNE. CEO Ronen Luzon highlighted the potential to reduce cart abandonment and foster brand loyalty through their innovative technology.

My Size, Inc. (NASDAQ: MYSZ) provided a business update for Q2 2020, revealing over 2.3 million size recommendations in July. Highlights include a reported increase in online sales for customers using MySizeID, with Penti noting a threefold boost in sales and a 50% reduction in returns. The company opened a subsidiary in Moscow and expanded its presence in France with new hires. Additionally, My Size received a Notice of Allowance for a U.S. patent related to its measurement technology, contributing to its growing intellectual property portfolio. The Company expects to generate 2.5 million recommendations in August and aims for 20 million in total for 2020.

My Size, Inc. (NASDAQ: MYSZ) announced that CEO Ronen Luzon will appear on Cheddar INNOVATES at 11:00 AM ET today. He will discuss how COVID-19 has impacted U.S. retailers and the importance of adopting digital strategies for ongoing success. MySizeID offers a smartphone-based sizing solution aimed at enhancing customer experience and reducing costs for retailers. This technology utilizes personal measurements without a camera, positioning it as a valuable tool during and beyond the pandemic.

My Size, Inc. (NASDAQ: MYSZ) partnered with global apparel brand Penti, reporting that customers using MySizeID had apparel sales three times higher than non-users during March to May 2020. Returns for these customers decreased by approximately 50%. Following the success in lingerie and swimwear, MySizeID has been expanded to Penti's sleepwear line. CEO Ronen Luzon noted that nearly 8% of Penti's customers utilized MySizeID, indicating significant growth opportunities among the estimated four million monthly shoppers on Penti's platform.

My Size, Inc. (NASDAQ: MYSZ) announced the opening of a new subsidiary in Moscow, Russia, targeting growing demand for its innovative measurement solutions. The subsidiary aims to enhance the company's presence in Russia and CIS markets, bolstered by the hiring of a senior sales executive, Yossi Milstein. The CEO noted significant e-commerce growth in the region, citing that 71% of Russian consumers shop online monthly. MySizeID and BoxSize solutions aim to improve operational efficiency for retailers and logistics companies, capitalizing on this trend.

My Size, Inc. (NASDAQ: MYSZ) announced the integration of its MySizeID technology into the e-commerce platforms of French retailers La Pièce and Habillez-moi, aimed at enhancing customer loyalty and reducing product returns. CEO Ronen Luzon highlighted the successful expansion into Europe, noting France's significant fashion apparel market projected to exceed $9 billion in 2020. The country's e-commerce sector is also anticipated to reach over $129 billion, representing a robust opportunity for My Size's solutions amidst increasing demand driven by the COVID-19 pandemic.

My Size, Inc. (NASDAQ: MYSZ) announced the integration of its MySizeID measurement technology into SWEET FIT, an augmented reality virtual fitting mirror. This partnership allows users in France to receive accurate size recommendations based on real-time body measurements, facilitating a contactless shopping experience amid COVID-19-related retail challenges. CEO Ronen Luzon emphasizes the importance of such solutions for retailers seeking to enhance customer confidence and safety during in-store visits. SWEET FIT aims for international expansion as it leverages MySizeID's technology.

My Size, Inc. (NASDAQ: MYSZ) has received a Notice of Allowance from the USPTO for a patent concerning smartphone measurement technologies. This marks the third patent granted in the U.S., contributing to a total of nine patents worldwide. The technology underpins products like MySizeID and BoxSize, enhancing user measurement accuracy for apparel and logistics. CEO Ronen Luzon highlighted the U.S. market potential, with e-commerce revenues in apparel estimated to grow to $194.4 billion by 2023. This patent furthers My Size's strategy to protect its innovations in a significant market.

My Size, Inc. (NASDAQ: MYSZ) announced on June 17, 2020, that its MySizeID solution is projected to achieve one million size recommendations for June. The company reported an 800% increase in monthly traffic over four months. MySizeID allows users to obtain size recommendations based on their personal measurements taken via smartphone sensors, enhancing online shopping experiences. CEO Ronen Luzon emphasized the significant growth potential, noting that current user penetration is only 1%-7% on client websites. Despite COVID-19 delays, My Size aims for 20 million recommendations in 2020.