AIRPORT CITY, Israel, Sept. 20, 2023 /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 results from a pilot implementation of Smart Catalogue with Naiz Fit’s customer, Salsa Jeans, a global apparel brand whose jeans are sold through 190 stores across 40 countries.
Smart Catalog is an innovative software-as-a-service (SaaS) based solution that helps fashion designers create patterns that optimize fit, with the aim of reducing unsold items, improving economics for fashion brands and retailers.
Inconsistent sizing in the apparel industry is known to lead to higher returns and greater waste, with 40% of women saying they have problems finding the right size. Brands are also challenged in knowing how much of which size to manufacture and stock in each store. Local demographics can significantly impact size demand. Implementing the right data-driven tools may help alleviate a major problem in the apparel industry: 30% of all clothing manufactured is never sold.
Salsa Jeans used Smart Catalogue to validate its jeans collection’s size consistency across several factors including testing for consistency with a customer’s stated size, consistency across Salsa’s numerous styles, and across all 6 of the leg cut shapes offered by the brand. A total of 342 tests done were done with 31 patterns on 32 people of different body morphologies matching the brand’s target customer of women between 30-50 years of age. AI tools including ChatGPT were used for data capture and analysis of test results and comments.
Smart Catalogue determined the need for Salsa Jeans to adjust sizing to optimize size-appropriate fit. Patterns with the highest deviation between intended and actual fit were identified. The specific data generated by Smart Catalogue provided suggestions on the corrective actions to be taken. Insights were also provided on which size ranges to offer at different brick and mortar shops based on demographics.
This data becomes a valuable asset for Salsa Jeans’ future collection and the brand’s continued international expansion. Salsa plans to use Smart Catalogue in the future for ecommerce sales to gather more insights and data and to build AI models to help the brand’s design department create new collections powered by data.
“Smart Catalog is at the forefront of addressing a clear need in the market for data-driven solutions that address apparel fit issues at its very source, during the design phase. We’re empowering and supporting the creatives in the fashion industry by informing their intuition with data,” stated MySize Founder and CEO Ronen Luzon. “We were very pleased to work Salsa Jeans and to provide data that will inform their future designs, ultimately leading to even better brand loyalty for Salsa, fewer returns, and a cleaner environment for all.”
About MySize Inc.
MySize, Inc. (Nasdaq: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions including MySizeID and recently acquired Naiz Fit to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize’s reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.
MySize 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 measurement technology is driven by several algorithms that are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit our website: www.mysizeid.com.
We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and Twitter.
Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.
To learn more about MySize and for additional information, please visit: our website: www.mysizeid.com.
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, including statements related to the acquisition, expected revenues, and the expected closing of the acquisition. 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. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. 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.
Investor Contacts:
Or Kles, CFO
ir@mysizeid.com
Logo – https://mma.prnewswire.com/media/689689/3320229/MySize_Logo.jpg
SOURCE My Size Inc.
Source PR Newswire
