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.
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.