Business
My Size Provides Business Update for the First Quarter of 2019
AIRPORT CITY, Israel, May 15, 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 15, 2019 /PRNewswire/ -- My Size, Inc. (the \"Company\" or \"My Size\") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today provided a business update for the first quarter ended March 31, 2019.\n\n \nRonen Luzon, CEO of My Size, Inc., stated, \"We achieved a number of major milestones in the first quarter of 2019. Most important, we generated our first pilot and licensing revenues, reflecting the next step in our commercial strategy with retailers. We are very encouraged by the feedback thus far and look further to providing further updates shortly on our commercial deployments, as the pilot programs underway begin to scale up and transition to longer term commercial arrangements. \n\"We have expanded our platform to increase access for consumers and enhance the value of our service for retailers. We kicked off the year with the launch of the MySizeID™ smart measurement technology for Android, which accounts for approximately 76% of all smartphones. We also launched our own online store, Modelista, allowing consumers to shop for apparel using the Company's MySizeID™ mobile measurement technology.\n\"At the same time, we are diversifying our offering beyond the fashion marketplace through BoxSizeID, which provides accurate parcel measurement and cost calculation, as well as integration with enterprise resource planning (ERP) systems. I am pleased to report the integration of BoxSizeID into Katz Corporation's ERP system has gone extremely well, resulting in meaningful revenues and cost savings for Katz. Building on this success, we launched BoxSizeID™ to distribution and logistics centers across the world through the Honeywell Marketplace, a division of Honeywell Inc., (NYSE: HON). Based on feedback we have received, we believe BoxSizeID™ holds enormous potential in the months and years ahead.\n\"To capitalize on the growing demand, we are ramping up our sales organization. Specifically, we hired a number of new senior sales executives. We have also presented at numerous trade fairs and expos, where the response and lead generation has been quite positive. To support our anticipated growth, we are also enhancing our internal organization, including the recent promotions of Billy Pardo to Chief Operating Officer and Eli Turchinsky to Chief Technology Officer....