AIRPORT CITY, Israel,
March 4, 2020 /PRNewswire/ -- My
Size, Inc (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE:
MYSZ), the developer and creator of smartphone measurement
solutions, and Penti, Turkey's
leading underwear brand, reported progress on the first ever global
partnership to use digital measurement technology in the lingerie
category. By using MySizeID™, Penti is aiming to decrease
online shopping return rates by approximately 50%.
The MySizeID app is a turnkey solution that helps any merchant's
customers choose the appropriate apparel size for that specific
brand, based on the shopper's real measurements. My Size's
innovative technology enables consumers to measure themselves using
their smartphone and then be matched with a brand-specific apparel
item in their size.
Mert Karaibrahimoğlu, CEO of Penti Giyim, commented about this
cooperation, "Innovative products are essential to Penti. Last
year, we produced Turkey's first
wearable tech bra, MybraTouch. MybraTouch, which we designed for
women who care about their health and want to gain insightful data
while they sleep, has attracted a lot of attention. With MySizeID,
our customers will be able to easily measure their current bra size
by downloading the app and using it on their smart phones. Now
customers can easily know their correct size, apply the
measurements to different products, and shop online with ease on
Penti.com.tr."
"The MySizeID application also provides significant cost
advantages. Today, the apparel industry is facing a high rate of
returns; in Europe the return rate
is estimated to be approximately 8% for items bought in brick and
mortar stores. This rate jumps to 25-40% for items purchased
online. This means additional and unnecessary costs for
retailers. To date, MySizeID has decreased Penti's online returns
by approximately 50%," added Karaibrahimoğlu.
My Size CEO Ronen Luzon, stated,
"Penti is a brand that believes in offering innovative solutions to
its customers. MySizeID will be able to offer women consumers a
more personalized shopping experience. By incorporating our
technology, Penti will not only give their consumers confidence in
finding their perfect fit, but will also reduce Penti's product
returns and waste."
About Penti
Leading intimates' brand of Turkey, Penti, is positioned as a lovemark for
Turkish women. Penti is the first brand that comes to mind in many
categories such as; intimates, socks, beachwear and homewear. Penti
is positioned as the leader of the sectors that it operates with
its rightfully earned know-how. According to the U&A brand
health research, Penti as the main brand has 99.8% brand awareness
in Turkey. Penti also has 63%
brand awareness in the socks line, 39% in intimates, 33% in
homewear and 32% in beachwear lines.
Penti has a powerful brand DNA which is based on its heritage,
brand awareness, product and service quality. Penti mostly
described as "a best friend" who is always there, therefore can be
reached easily by Turkish women. The brand is perceived as trendy,
young, innovative and inspiring.
The main target of Penti is to offer the same and fulfilling
brand experience at each and every point that consumers meet with
the brand with its Omnichannel approach. While providing a unique
shopping experience with more than one thousand stores all around
the world and through online channels, Penti also aims to increase
the customers' satisfaction. Besides its strong position in the
domestic market, Penti has plans to continue its growth globally as
well. Penti has plans to carry its success to a higher level by
increasing the number of abroad stores to 600 and to grow its
e-commerce presence.
Besides being the leading sector brand in Turkey, Penti also increases its successful
growth in the Europe, Middle East, Balkans and in the region as well
as its brand awareness.
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 measurement 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. 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.
Register here for a one-month free trial of MySizeID
solution for your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for Android.
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.
Israel Press Contact:
Yaniv Leibovich
Leibovich Media
yanivleib@gmail.com
+972-54-444-0326
U.S. Press Contact:
5W Public Relations
mysizeid@5wpr.com
IR Contact:
Crescendo Communications, LLC
Tel: +1-212-671-1020
Email: MYSZ@crescendo-ir.com
For further information:
L'Appart Pr
Aybike Aydınlar
aybike@lappartpr.com
busra@lappartpr.com
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SOURCE My Size Inc.