MySize to Unveil New Measurement Technology to Transform Online Apparel Shopping
The testing phase expected to conclude in Q1 2018
AIRPORT CITY, Israel, Dec. 8, 2017 /PRNewswire/ -- My Size, Inc. (NASDAQ: MYSZ) (TASE: MYSZ), a developer of proprietary, smartphone measurement applications, intends to release a new measurement solution technology that will revolutionize the way consumers shop for clothing online. The new technology is currently in the testing phase at several Israel-based academic institutions, and to date, has shown promising results under lab conditions.
MySize's innovative technology has been designed to allow consumers to measure themselves using their smartphone and then be matched with an online apparel item in their size. We believe that this technology has the potential to significantly reduce the margin of error for customers purchasing the wrong size apparel online.
MySize's R&D Engineers have developed a system that pulls data from anthropometric databases, which is then combined with studies on body measurements of diverse populations groups. MySize's proprietary methodology combines this data with the measurements obtained from an individual via the smartphone app to estimate the circumference of different body parts that determine the size of garments.
In order to help consumers determine the key body measurements needed for fitting apparel purchased online, MySize invented a simpler and more accessible three step process:
- Perform convenient body measurements using a smartphone.
- Predict the body circumferences required by the retailer size-chart using the MySize's new proprietary algorithms.
- Recommend to the user their appropriate garment size according to the retailer's size chart.
Recording accurate and detailed body measurements via traditional methods is generally difficult. The main traditional methods involve advanced 3D scanners, or manually using multiple tape measures and calipers. In both cases, they can be expensive, require expertise to operate, and are not available to consumers. My Size is the only company that is able to do that based on recently awarded patented technology that uses actual body measurement. My Size's patent has been approved in several countries, including the U.S.
"My Size has developed an innovative solution that will enable consumers to shop for better-fitting apparel online, across multiple vendors, and get their correct size, based on their individual smartphone-based body measurements. This level of accuracy and convenience is not offered by any of our competitors," said My Size CEO, Ronen Luzon. "The U.S. e-commerce apparel market alone is over $72 billion of the total e-commerce market of $394 billion (Statista, U.S. Census Bureau), and we believe that the My Size solution will help reduce returns to retailers due to sizing issues, thereby benefitting consumers by assisting them to purchase apparel that fits their specific size."
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, patented 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. Follow us on Facebook, LinkedIn and Twitter.
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.
Press Contact:
Eran Yoels
Rimon, Cohen and Co.
[email protected]
+972-52-440-8020
SOURCE My Size Inc
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