AIRPORT Town, Israel, Nov. twelve, 2020 /PRNewswire/ -- My Size, Inc. (the "Enterprise" or "My Dimensions") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement remedies, these days presented a company update with the 3rd quarter finished September thirty, 2020. A replica of the Company's quarterly report on Kind 10-Q to the third quarter ended September 30, 2020 is filed Together with the Securities and Exchange Commission and posted on the organization's Internet site at https://ir.mysizeid.com.
Modern Highlights
Income for your third quarter of 2020 increased to $88,000 vs . $six,000 for the same period last calendar year.
Built-in and introduced MySizeID widget for NOCTURNE, a eu Women of all ages's attire brand name that styles, manufactures, distributes, and sells prepared to have on attire
Integrated MysizeID into e-Commerce System of Tricorp, a leading European workwear provider
Launched tailor made outfits made-to-evaluate feature for MySizeID
Ronen Luzon, CEO of My Measurement, Inc., said, "We're delighted to report a rise in revenue for that third quarter finished September thirty, 2020, as compared to precisely the same period very last year. The increase in revenues in the third quarter was owing partially to elevated retailer adoption of MySizeID, our turnkey Resolution that assists shoppers opt for their suitable measurement and in good shape whilst shopping online, which, consequently, lowers the shops' returns and increases their base line."
"Among our world-wide vendors, Penti, is a wonderful use case example for the worth proposition that MySizeID is at this time offering to merchants:
Penti claimed clothing gross sales between clients utilizing MySizeID had been 3X greater that those customers that didn't employ MySizeID above a three-thirty day period time period from March to Could 2020
Penti also documented returns have been decreased by approximately fifty% for purchasers employing MySizeID throughout the exact 3-thirty day period period of time
We think these final results even further validate our engineering and its effectiveness in cutting down returns and increasing profits for retailers."
"In the course of the quarter, we built-in the MySizeID widget for NOCTURNE, a European Gals's apparel brand name that models, manufactures, distributes, and sells willing to wear apparel, together with TriCorp, a number one European workwear provider. Each suppliers perspective MySizeID as a substantial worth proposition, as MySizeID enhances suppliers' revenues, lowers their working charges, while increasing the consumer's shopping working experience and maximizing sustainability. We also declared that we released a Designed-to-Evaluate (M2M) attribute, which makes it possible for vendors to get buyers' human body measurements as an alternative to a measurement, in an effort to make customized-made outfits. We believe that the way forward for the retail market is headed in the direction of made-to-measure trend and our intention should be to be with the forefront of innovation. Our First pilots utilizing the M2M element with numerous suppliers is encouraging and we look forward to rolling out this element with added retailers."
"We're functioning within a challenging surroundings given that the seriously strike retail field is reeling from the effects of COVID-19 and Irrespective of our development over the past yr, this has slowed our current market penetration. Based on present estimates, we think that We are going to access no less than 10 million dimension recommendations about the class of 2020. Nevertheless, we think these impacts are short-term, and we continue to be optimistic about our expansion tactic for up coming calendar year, as we build our profits pipeline, increase main shops and go after new Worldwide markets for both MySizeID and BoxSize."
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About My Dimension, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has made a singular measurement engineering based on subtle algorithms and reducing-edge technology with wide applications including the clothing, e-commerce, DIY, shipping and delivery and parcel delivery industries. This proprietary measurement technological know-how is driven by various algorithms which are able to estimate and record measurements in a number of novel means. To learn more about My Dimensions, please check out our Web-site: www.mysizeid.com. We routinely publish data Which might be crucial to traders from the Investor Relations segment of our Internet site. Observe us on Fb, LinkedIn, Instagram and Twitter.
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This press launch consists of certain forward-searching statements throughout the which means of the Safe and sound harbor provisions in the Non-public Securities Litigation Reform Act of 1995. These statements are recognized by using the phrases "could," "believe that," "anticipate," "intend," "estimate," "assume," "might," "continue on," "forecast," "prospective," "challenge" and comparable expressions which have been intended to recognize ahead-on the lookout statements. All forward-seeking statements converse only as of your day of this press release. You should not spot undue reliance on these forward-wanting statements. Whilst we think that our options, aims, anticipations and intentions mirrored in or instructed via the ahead-on the lookout statements are sensible, we may give no assurance that these designs, targets, anticipations or intentions are going to be achieved. Ahead-wanting statements require important pitfalls and uncertainties (a number of which can be past our Manage) and assumptions that could induce genuine benefits to differ materially from historic expertise and present anticipations or projections. Real success to differ materially from those during the forward-on the lookout statements along with the trading price tag for our typical inventory may possibly fluctuate appreciably. Ahead-looking statements also are influenced by the risk variables explained in the organization's filings While using the U.S. Securities and Exchange Commission. Other than as demanded by law, we undertake no obligation to update or revise publicly any forward-hunting statements, no matter whether because of new data, upcoming occasions or in any other case, following the day on which the statements are made or to mirror the incidence of unanticipated gatherings.