AIRPORT CITY, Israel, May 13, 2020 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced it is forming a subsidiary in Russia in order to establish and expand the distribution of BoxSize and MySizeID in the Russian market.
The MySizeID turnkey solution can help retail companies to reduce costs and enhance shopper experience by providing a more efficient sizing solution for consumers. MySizeID is a size-recommendation tool based on shoppers' personal body measurements, taken with their smartphone sensors without using the camera. BoxSize is an intuitive parcel measurement app that can provide real-time logistic data on packages volumes and transportation, resulting in improved operational efficiency and reduced operating expenses.
Ronen Luzon, Chief Executive Officer of My Size, commented, "One of Russia's main goals for national development is to rapidly evolve and enhance the utilization of advanced technologies. This includes promoting technological innovations and accelerating the introduction of digital technologies, including the use of these technologies to advance exports. We believe there is a large opportunity in Russia for MySizeID in the retail e-commerce market and BoxSize in the logistics/courier market. In February, we announced that we received a notice of allowance from the Russian Patent & Trademark office which was key to establishing a market presence in Russia. During the last couple of months, we had multiple meetings with key industrialists, technology leaders, retail executives and top administration officials that are very interested in incorporating our technology into their respective platforms. We look forward to expanding our measurement technology in Russia and CIS countries."
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.
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