Business
MySize and Santista Têxtil Create Joint Venture Serving the $33 Billion Brazilian Apparel Market with Sizing Technology and Sustainability Solutions for Retailers
MySize Brazil will deliver Brazilian retailers, brands, and e-commerce companies access to MySize's MySizeID sizing solution and its FirstLook Smart Mirror as
About this update from My Size, Inc.
[{"type":"text","content":"MySize Brazil will deliver Brazilian retailers, brands, and e-commerce companies access to MySize's MySizeID sizing solution and its FirstLook Smart Mirror as well as Santista's sustainable tech solutions\nSAO PAULO, Brazil, and AIRPORT CITY, Israel, Aug. 24, 2022 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) (\"MySize\" or the \"Company\"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced its joint venture with Santista Têxtil, a pioneering innovator in the Brazilian denim market. The joint venture marks the dedication of both companies to helping the retail industry exceed its sustainability goals through technology, expanding the reach of both Santista and MySize to hundreds of leading Brazilian brands and e-tailers in the country's $33 billion apparel market.\nSantista has 93 years of experience in the Brazilian market and has become a national and global leader in fashion, trends, quality, and innovation by creating premium textiles that use the latest technology and sustainable solutions.\nThrough the joint venture, MySize's products will be directly marketed to Santista's extensive customer base which includes local and international well-known brands. Access to MySizeID can reduce returns for these brands by up to 50% and increase the average size order. In addition, the recently launched FirstLook Smart Mirror, an interactive, mirror-like touch display for physical stores that offers personalized fit and product recommendations, will be available.\nThe MySize-Santista joint venture is designed to reduce expenses, boost average order size, and put sustainability front and center. Every year, returns cost retailers worldwide a staggering $642.6 billion and only 48% of returns can be resold at full price, while 5 billion pounds of returns end up in landfills. In fact, retailers spend as much as 66% of the price of a product to process a return. MySize's joint venture with Santista aims to address these issues in a meaningful and effective way, positively impacting businesses and consumers alike.\n\"Santista is a consolidated brand in the Brazilian market and a leader in using innovative technology and sustainable solutions to improve and advance the fashion industry. Having them as our partner ...