My Size to Form Subsidiary in Russia to Expand the Distribution of BoxSize, MySizeID and Establish a Presence in the Russian Market
29 May 2020
AIRPORT CITY, Israel, May 13, 2020 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced it is forming a subsidiary in Russia in order to establish and expand the distribution of BoxSize and MySizeID in the Russian market.
The MySizeID turnkey solution can help retail companies to reduce costs and enhance shopper experience by providing a more efficient sizing solution for consumers. MySizeID is a size-recommendation tool based on shoppers' personal body measurements, taken with their smartphone sensors without using the camera. BoxSize is an intuitive parcel measurement app that can provide real-time logistic data on packages volumes and transportation, resulting in improved operational efficiency and reduced operating expenses.
Ronen Luzon, Chief Executive Officer of My Size, commented, "One of Russia's main goals for national development is to rapidly evolve and enhance the utilization of advanced technologies. This includes promoting technological innovations and accelerating the introduction of digital technologies, including the use of these technologies to advance exports. We believe there is a large opportunity in Russia for MySizeID in the retail e-commerce market and BoxSize in the logistics/courier market. In February, we announced that we received a notice of allowance from the Russian Patent & Trademark office which was key to establishing a market presence in Russia. During the last couple of months, we had multiple meetings with key industrialists, technology leaders, retail executives and top administration officials that are very interested in incorporating our technology into their respective platforms. We look forward to expanding our measurement technology in Russia and CIS countries."
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.
U.S. Press Contact:
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Tel: +1 212-671-1020
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SOURCE My Size Inc.