My Size Provides Business Update for the Fourth Quarter of 2020
29 Mars 2021 - 11:39PM
My Size, Inc. (the "Company" or "MySize") (NASDAQ: MYSZ)
(TASE: MYSZ), the developer and creator of innovative measurement
solutions, today provided a business update for the fourth quarter
ended December 31, 2020. A copy of the Company’s Annual Report on
Form 10-K for the year ended December 31, 2020, has been filed with
the Securities and Exchange Commission and posted on the Company’s
website at https://ir.mysizeid.com.
Recent Highlights
- Completed two registered direct offerings in January and March
2021, resulting in $2M and $3.3M in gross proceeds, respectively,
and received $0.8 million from warrant exercises in January and
February 2021.
- MySizeID delivered over 12 million size recommendations in
2020.
- Significant expansion of MySizeID into the uniform and workwear
sector in North American and Europe.
- Launched footwear measurement solution with MySizeID.
Ronen Luzon, CEO of My Size, Inc., stated, “We
are pleased to see continued if moderate, growth in Q4 2020 in all
key metrics, including in the number of recommendations our
customer’s shoppers are using to purchase apparel, as well as
revenue, compared to the same period last year. “This year, our
goal is to transform MySizeID from a solution that provides brands
and their customers with accurate size recommendations to a more
robust, end-to-end solution that inspires customer confidence and
drives omnichannel revenue growth by providing a superior consumer
journey.”
“During Q4, the company partnered with
UniformMarket which has 3,000 online stores that are part of the
UniformMarket network. The UniformMarket, joins our growing
constellation of brands, in a sector expected to reach $42.1
billion by 2025, which includes Tricorp, Victory Cheer Uniforms,
Rumina `Nursingwear, and others.
“The MySize footwear sizing solution, which aims
to address the $20.9 billion footwear market (2020, US), was also
introduced in Q4. MySizeID provides highly accurate size
recommendations for footwear shoppers with the goal of
significantly reducing the need for “free two-way-shipping” and
advancing sustainability goals for the breadth of the retail
apparel sector.
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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 that 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 free plan of MySizeID solution for your
online store.
Please click here to download MySizeID for iOS.
Please click hereto 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.
U.S. Press Contact:
Strauss
Communicationsjoel@strausscomms.comwww.strausscomms.com
IR Contact:
Or Kles, CFO
ir@mysizeid.com
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