Category: High Tech
- Published: 12 January 2018
- Written by Editor
MySize Receives Overwhelmingly Positive Response to its Innovative Measurement Technology at CES
AIRPORT CITY, Israel, Jan. 12, 2018 -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement applications, concluded a hugely successful first three days at CES in Las Vegas on January 9th through 11th and expects continued interest over the next few days from potential customers, as well as from apparel and tech media. MySizeID™, the Company's revolutionary patented body measurement technology, designed to transform the way apparel is purchased online, is being unveiled at CES. A video that demonstrates MySizeID's capabilities and benefits for online retailers was also launched at CES. To watch the video - press here.
"MySizeID has been received with excitement and enthusiasm during the first three days of CES. Our booth was visited by a large number of online retailers seeking to improve their customers' shopping experience. We had meetings and highly productive discussions with some of the leading retailers in the world. Apparel retailers know that their customers prefer to shop online and simply want to make a purchase that is the right size the first time they order. We believe that MySizeID provides the key to unlocking further growth in the multi-billion dollar online apparel market, while improving economics for retailers and giving consumers a more satisfying shopping experience," said My Size CEO, Ronen Luzon.
"In an online clothing market, estimated to be valued at over $72 billion in the U.S. alone, 70%* of apparel returns are size related, while 32%* of shoppers don't purchase fashion online because of uncertainly around size and fit. My Size has the technology to address this weakness in the e-commerce economy and we believe our solutions will deliver clear financial results for our customers."
MySizeID enables consumers to measure their body using their smartphones, allowing the application to determine the correct size for clothing provided online. The technology reflects a conceptual revolution that may significantly reduce the margin of error experienced by consumers who purchase the wrong size online and may increase consumer confidence in online purchases on matters relating to size.
The Annual CES Trade Show in Las Vegas is considered among the main platforms for introducing innovations and advanced technologies. The show attracts over 3,900 companies, manufacturers, developers, tech, software and hardware experts. Over 170,000 participants of about 150 countries are expected to participate in the trade show. For more information about the trade show – press here.
*According to Drapers Etail Report.
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 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. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include: an active trading market for our common stock may not develop on NASDAQ; the trading price for our common stock may fluctuate significantly; and the Company will continue to be a "controlled company," as defined under NASDAQ rules, and the interests of our controlling stockholder may differ from those of our public stockholders. 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.
Rimon, Cohen and Co.