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SOURCE My Size Inc.
AIRPORT CITY, Israel, January 3, 2018 /PRNewswire/ --
My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ)(TASE: MYSZ), the developer and creator of smartphone measurement applications, plans to unveil its body measurement technology at the annual CES in Las Vegas. The Company believes that this technology will help revolutionize the manner in which consumers purchase clothing online.
My Size's body measurement technology, MySizeID, enables consumers to measure their body using their smartphones, allowing the application to determine the correct size for clothing purchased online. The application involves the use of a technological innovation that the Company believes will significantly reduce the margin of error experienced by consumers who purchase the wrong size online and thereby increase consumer confidence in online purchases on matters relating to size.
"We are very excited to introduce what we believe is a leading-edge solution that we developed which will enable consumers to get the right fit when purchasing clothing online. We believe this is the first time anyone has managed to link body measurements taken with the smartphone with clothing sizes. This level of accuracy and the related convenience is unique to us, and we believe no competing solution provides a solution like ours," said My Size CEO, Ronen Luzon. "The online clothing market in the U.S. alone is valued at over $72 billion of an overall value of approximately $395 billion e-commerce sales market." (Sources: Statista and the U.S. Population Census Bureau ).
"This is our second time presenting our technologies at CES. Over the last year since the last trade show, we have significantly improved and enhanced our technology, launched additional products using our measurement algorithm and increased the number devices that can support our applications," added Ronen Luzon, My Size CEO. "I am glad to say that we will be presenting new developments this year too. We are pleased to lead the way in measurement technology and are proud to play an integral role in the global transformation caused by the e-commerce revolution."
The research and development engineers at My Size have created a system that derives data from anthromorphic databases, combining them with body measurement research data obtained in various demographic groups. The My Size methodology combines the results of this approach with personal information that the user inputs into the smartphone, thereby estimating the circumference of body parts used to derive clothing sizes.
To help consumers determine the main body measurements required for an online fitting, My Size has developed a smart and more accessible process consisting of three steps:
The traditional methods for determining accurate body measurements include advanced 3D scanners or manual use of a measuring tape, all of which are complicated, expensive and /or may require a high level of expertise and operating skills that are not directly available to the consumers. We believe that we are the only company that takes accurate body measurements through the use of a smartphone, using our patented technology. Our patent has been approved in Russia, Japan and the U.S.
The CES trade show in Las Vegas is considered among the main platforms for introducing innovations and advanced technologies. The show attracts over 3,900 companies, manufacturers, developers, technology, software and hardware experts.
Over 170,000 participants from approximately 150 countries are expected to participate in the trade show.
The Company will be participating in the international CES innovation tradeshow in Las Vegas on January 9-12, 2018 (Booth # 51702), where it will be displaying the application of its products. For more information about the trade show - Press here
About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) 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 technology is driven by several algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website. www.mysizeid.com. Follow us on Facebook, LinkedIn and Twitter.
Cautionary Statement Regarding 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. 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 to 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.
Rimon, Cohen and Co.
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