Launches across all 32 Canali ecommerce sites in
Europe and the US
Naiz Fit increased conversion rates by 800% and increased
basket value by 37% for a similar luxury brand
AIRPORT CITY, Israel ,
April 24,
2023 /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 Italian luxury menswear
brand Canali has gone live with the Naiz Fit sizing solution on its
ecommerce stores. Canali customers may now use the Naiz Fit digital
tailor to find the perfect fit for their favorite Canali items.
MySize will begin generating revenues from the SaaS agreement
effective immediately.
Naiz Fit's SaaS technology acts as a digital tailor. Without
asking customers to measure themselves, Naiz Fit obtains 20+ body
measurements using its proprietary AI and computer vision
capabilities by transforming simple images into body measurements.
For customers who do not want to use photos, Naiz Fit implements
statistical modeling algorithms to determine size and fit based on
height, weight, age, gender, and fit preference. Convolutional
neural networks enable the company's technology to extract direct
body measurements and body morphologies with the highest
accuracy.
"Naiz Fit can have a tremendous impact on increasing sales,
reducing returns, and further enhancing customer satisfaction for
Canali. We are very pleased to implement Naiz Fit with this top
luxury European fashion brand," stated MySize CEO and Founder,
Ronen Luzon. "With a similar luxury
brand, Naiz Fit has made over 112,000 size recommendations to date,
leading to a 37% increase in basket value and 800% increase in
conversion rate compared to shoppers who did not use Naiz Fit.
"In men's suits the Naiz Fit size recommendation tool is
especially accurate, as we can establish a sizing model not only
for each type of suit but we are also able to differentiate by fit
and drop which is highly recommended when talking about tailoring,"
stated Borja Cembrero Naiz Fit CEO.
About Canali
Canali has been promoting the values of Made in Italy excellence through its artisanal
know-how, creating masterpieces of exceptional wearability and
comfort in a perfect balance of elements that blends culture and
history with style and taste.
A family-run company now in its third generation, Canali is a
modern-day design and manufacturing group with its own 5 production
centers all located in Italy and
around 1,400 employees worldwide. In addition to its 150 boutiques,
a number that continues to grow, the brand can also be found in
over 1,000 retail stores in more than 100 countries across the
globe.
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.
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.