Business
My Size Announces First Commercial Contracts for the MySizeID Smart Measurement Application for Online Apparel Retail
AIRPORT CITY, Israel, May 17, 2019 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of
About this update from My Size, Inc.
[{"type":"text","content":"AIRPORT CITY, Israel, May 17, 2019 /PRNewswire/ -- My Size, Inc. (the \"Company\" or \"My Size\") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced it has secured its first commercial contracts for MySizeID, the Company's smart measurement application for fashion and online retail, following successful pilot programs. \n\n \nThe first retailers that are either in the process of integrating or have completed integration of MySizeID into their online stores include: a sustainable fashion brand out of Europe; one of the world's oldest and largest manufacturers of music performance group apparel; one of Europe's largest ready-to-wear and accessories brands; a premier wedding dress manufacturer; and a retailer specializing in beachwear and intimate wear. My Size is also in the integration phase with one of the world's largest U.S.-based lifestyle brands. \nThe agreements were executed either directly with My Size, or through its recently announced collaboration with Shopify and Lightspeed. Following a short integration period, the newly signed retailers are able to implement the MySizeID widget into their online stores for consumer shoppers to use. These online stores receive more than 3.6 million combined monthly visitors, all of whom represent potential users of MySizeID following integration. The retailers pay My Size a monthly licensing fee for continued usage of the application, with the fee increasing as the retailer's monthly usage of MySizeID grows.\n\"We are thrilled to announce we have moved beyond the development and pilot stages with our first commercial contracts. We believe the selection of MySizeID by multiple retailers from across the world validates the need for innovative solutions that can solve consumer pain points during the path to purchase online – particularly due to confusion with sizing,\" said Ronen Luzon, Chief Executive Officer of My Size. \n\"We're pleased to have already experienced success with both the Shopify and Lightspeed marketplaces, both of which listed MySizeID in their app stores just a short time ago. The Shopify platform powers over 800,000 businesses in approximately 175 countries. Similarly, Lightspeed's point-of-sale solution processed over $13 billion in gross transactions in 2018 alone. Each of these partners represent a potentia...