Business
My Size Opens Subsidiary in Moscow to Support Growing Demand for Measurement Solutions and to Expand Foothold in Russia and CIS Markets
AIRPORT CITY, Israel, July 8, 2020 /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, July 8, 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 has opened a new subsidiary in Moscow, Russia in order to meet the growing demand for its measurement solutions and gain a stronger foothold in the fast-growing Russia and CIS markets. The Company has also hired a new senior sales executive, Yossi Milstein, to lead business development and operations for BoxSize and MySizeID within the Russian and CIS markets. \n \n \nRonen Luzon, Chief Executive Officer of My Size, commented, \"We are in active discussions with multiple companies in the retail, e-commerce, courier and logistics markets in the region. Opening a subsidiary in Russia was a natural next step for us in supporting the growing demand in Russia and other CIS countries. Given the significant market opportunity in the region, we also hired an accomplished senior sales executive to oversee operations and rapidly expand our local presence. Russia has among the highest rates of online shoppers, with an estimated 71% of Russian customers shopping online at least once a month and 79% of them using smartphones for online shopping. E-commerce purchases have been doubling in Russia each year since the start of the 2010s. At the same time, third-party logistics and intralogistics companies are also poised for rapid growth. As a result, we see an attractive business opportunity for MySizeID and BoxSize by helping retailers, logistics and other companies attract and convert customers, as well as improve their bottom line.\"\nThe MySizeID turnkey solution can help retail companies reduce costs and enhance the 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 provides real-time logistics data on package volumes and transportation, resulting in improved operational efficiency and reduced operating expenses. \nFor the latest news coverage, please follow the Company on Facebook, LinkedIn, Instagram and Twitter.\nAbout My Size, Inc.\nMy Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measureme...