AIRPORT CITY, Israel, March 4, 2020 /PRNewswire/ -- My Size, Inc (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, and Penti, Turkey's leading underwear brand, reported progress on the first ever global partnership to use digital measurement technology in the lingerie category. By using MySizeID™, Penti is aiming to decrease online shopping return rates by approximately 50%.
The MySizeID app is a turnkey solution that helps any merchant's customers choose the appropriate apparel size for that specific brand, based on the shopper's real measurements. My Size's innovative technology enables consumers to measure themselves using their smartphone and then be matched with a brand-specific apparel item in their size.
Mert Karaibrahimoğlu, CEO of Penti Giyim, commented about this cooperation, "Innovative products are essential to Penti. Last year, we produced Turkey's first wearable tech bra, MybraTouch. MybraTouch, which we designed for women who care about their health and want to gain insightful data while they sleep, has attracted a lot of attention. With MySizeID, our customers will be able to easily measure their current bra size by downloading the app and using it on their smart phones. Now customers can easily know their correct size, apply the measurements to different products, and shop online with ease on Penti.com.tr."
"The MySizeID application also provides significant cost advantages. Today, the apparel industry is facing a high rate of returns; in Europe the return rate is estimated to be approximately 8% for items bought in brick and mortar stores. This rate jumps to 25-40% for items purchased online. This means additional and unnecessary costs for retailers. To date, MySizeID has decreased Penti's online returns by approximately 50%," added Karaibrahimoğlu.
My Size CEO Ronen Luzon, stated, "Penti is a brand that believes in offering innovative solutions to its customers. MySizeID will be able to offer women consumers a more personalized shopping experience. By incorporating our technology, Penti will not only give their consumers confidence in finding their perfect fit, but will also reduce Penti's product returns and waste."
Leading intimates' brand of Turkey, Penti, is positioned as a lovemark for Turkish women. Penti is the first brand that comes to mind in many categories such as; intimates, socks, beachwear and homewear. Penti is positioned as the leader of the sectors that it operates with its rightfully earned know-how. According to the U&A brand health research, Penti as the main brand has 99.8% brand awareness in Turkey. Penti also has 63% brand awareness in the socks line, 39% in intimates, 33% in homewear and 32% in beachwear lines.
Penti has a powerful brand DNA which is based on its heritage, brand awareness, product and service quality. Penti mostly described as "a best friend" who is always there, therefore can be reached easily by Turkish women. The brand is perceived as trendy, young, innovative and inspiring.
The main target of Penti is to offer the same and fulfilling brand experience at each and every point that consumers meet with the brand with its Omnichannel approach. While providing a unique shopping experience with more than one thousand stores all around the world and through online channels, Penti also aims to increase the customers' satisfaction. Besides its strong position in the domestic market, Penti has plans to continue its growth globally as well. Penti has plans to carry its success to a higher level by increasing the number of abroad stores to 600 and to grow its e-commerce presence.
Besides being the leading sector brand in Turkey, Penti also increases its successful growth in the Europe, Middle East, Balkans and in the region as well as its brand awareness.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) 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 which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, 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.
Register here for a one-month free trial of MySizeID solution for your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for Android.
Cautionary Statement Regarding 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. 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 to 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.
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SOURCE My Size Inc.