AIRPORTCITY, Israel, Aug. 17, 2016 (GLOBE NEWSWIRE) -- MySize Inc. (TASE:MYSZ) (NASDAQ:MYSZ), a developer of a unique measurement technology based on sophisticated algorithms with broad applications in a variety of areas from the apparel e-commerce market to Do It Yourself Smartphone and tablet applications.
MySize develops several technology products, designed for smartphones, enabling users to take personal measurements for fitting the items purchased online, for sizing shipping boxes and for measuring flat surfaces.
MySizeID is a technology, through which three-dimensional measurements are taken by simply moving a mobile device across anything that needs to be measured, such as the human body, a package, furniture, or just about any other item – no matter its shape or form.
MySize entered into a cooperation agreement with Trucco, a leading Spanish fashion company with more than 240 locations, to conduct a pilot for the MySizeID technology, in order to integrate the Company's measurement technology in Trucco's computerized data system and any other system which would enable to use the App on the Website as well as in the store and sale points. The App, if integrated successfully, will allow online apparel customers to scan their body using smartphone sensors according to instructions in the app and then select the correct size, based on their own personal measurements. The measurements will be stored in the MySize App. The most significant benefit for online retailers utilizing the MySizeID technology is that it can considerably reduce consumer returns from online purchases. This revolutionary technology will increase margins and ultimately result in increased brand loyalty by assuring customer satisfaction through proper garment fit.
Additionally, MySize entered into a cooperation agreement with LSY, owner of Yudofsky Furs and Leather, (http://www.yfur.com/) a nationally recognized luxury outerwear brand retailer and e-tailor based in Louisville Kentucky, to implement the MySizeID technology, allowing customers to shop online for products that will fit best. MySizeID is being integrated into the company’s website.
BoxSizeID, another App designed and developed by MySize, is used for measuring packages intended for shipping. BoxSizeID allows the end-user to measure the package and obtain shipping cost information based on its size. BoxSizeID helps shipping companies plan out various logistical aspects ahead of time, such as package volume, location and a picture of it, as well as the storage space and freight methods required to deliver packages, sort packages, and more.
In July 2016, the Company announced that it completed integration of the BoxSizeID (beta) App that it developed with Katz Systems, one of the largest delivery companies in Israel. The App uses the exclusive measuring algorithm to measure a package's volume by moving a smartphone over the package. This information, and the package's barcode scan, along with a picture and shipping address are sent directly to the information servers at Katz Systems. This information helps Katz Systems determine accurate pricing. MySize views the integration into Katz Systems as a doorway to potential cooperation with the world’s leading shipping companies.
SizeUp, the third product in the suite, allows for the measurement of flat surfaces by simply moving a smartphone across/over an object. The SizeUp App is currently available on Android and iOS for download.
MySize Inc. (TASE:MYSZ) (NASDAQ:MYSZ) developed a unique measurement technology based on sophisticated algorithms with broad applications in a variety of areas, from the apparel e-commerce market to Do It Yourself smartphone & tablet apps. The technology is driven by several patent-pending algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit the website located at www.mysizeid.com.
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. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include: an active trading market for our common stock may not develop on NASDAQ; the trading price for our common stock may fluctuate significantly; and the Company will continue to be a "controlled company," as defined under NASDAQ rules, and the interests of our controlling stockholder may differ from those of our public stockholders. 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.
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Source:My Size, Inc.