- Industry clients already benefitting from Naiz Fit
Workforce with high interest from many more across Europe
- Latest addition to MySize's growing portfolio of SaaS
recurring revenue products
AIRPORT CITY, Israel, Nov. 2, 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 its Spain-based Naiz Fit has launched a new sizing
solution product—Naiz Fit Workforce—specifically addressing the
needs of the $33 billion global
workwear and uniforms market. Based on the Company's AI-driven
sizing solutions technology platform, Naiz Fit Workforce solves
several challenges and pain points faced by companies who make
workwear as well as those who purchase uniforms for their
employees.
Some of the largest workwear companies in Spain have already become customers
benefitting from Naiz Fit Workforce including Santexo, Norvil,
Satara Seguridad, and Uniformes Moyua. Naiz Fit has received
interest in the new product from numerous other companies across
Europe.
"Naiz Fit Workforce is changing the economics of the
multi-billion dollar workwear business by applying fashion-tech and
AI to reduce costs and environmental footprint while speeding up
delivery and improving customer service," stated MySize Founder and
CEO, Ronen Luzon. "This latest
product launch is a testament to MySize's commitment to innovation
and the power of our technology platform to spawn new products for
focused markets where our technology can have an immediate
impact."
Traditionally, the workwear industry has been characterized by
manual data collection and sizing processes, slower shipment and
logistics due to sizing considerations, and inventory/out-of-stock
challenges based on size limitations.
Naiz Fit Workforce reduces logistics costs, accelerates order
fulfillment processes, optimizes sizing at the manufacturing stage,
and saves labor costs and time for employees including essential
workers such as police and firefighters who can simply fill out an
online form, with no need to physically try on a uniform. Naiz Fit
Workforce offers flexibility and comfort for employees
including:
- On-demand measuring process 100% online
- Self-service kiosks
- For any type of garment
- Automatic size match
- Available for mobile, tablet and desktop
- Monitors the number of employees measured and the garments
needed
- Follow ups to re-measure employees if needed
- Data safely gathered
The global workwear market was valued at $33 billion in 2023 and is forecast to reach
nearly $40 billion by 2028, according
to Industry Research.
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 X (formerly 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.