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AIRPORT metropolis, Israel, Feb. 6, 2018 /PRNewswire/ -- My dimension, Inc. (the "business" or "My measurement") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone dimension functions, these days issued a note to Shareholders highlighting how its 2017 achievements and recent fund raise of $6 million maintain positioned the business to accomplish its 2018 growth targets.
expensive Fellow Shareholders,
My size enters 2018 with mighty momentum in keeping with their 2017 advancements in know-how, product construction, highbrow property, and advertising. They began 2018 with a $6 million fundraise that gives us the ability to with ease execute on their 2018 boom plans. we're investing in their advertising and sales infrastructure to execute on the colossal haphazard for MySize within the $72 billion U.S. e-commerce retail market. Their 2018 dreams consist of signing new consumer contracts with main U.S. marketers for their dimension applied sciences, together with the MySizeID platform and their TrueSize white label attire sizing measurement know-how. we're also in discussions with overseas couriers concerning their BoxSizeID product for the courier market. As they augment and launch new dimension apps, the increasing download and utilization of these buyer will assist us enhance and build an array of huge information property.
all the artery through the primary few weeks of January, they unveiled their MySizeID™ product to a really enthusiastic reception at CES, the greatest client electronics point to on this planet, as well as at NRF 2018, the countrywide Retail Federation's conference. This marks an auspicious dawn to 2018, which they call to be a pivotal year for their enterprise in terms of market penetration and product adoption, while they proceed to innovate new huge records-primarily based size solutions.
products & Markets
effectively Launched and Now advertising MySizeID™ - They organized their flagship product MySizeID for a a hit unveiling and launch at CES in Las Vegas in January 2018. This ended in a chain of discussions with expertise retail partners each at CES and on the country wide Retail Federation conference, NRF 2018 in ny metropolis. MySizeID is a progressive patented cadaver dimension technology, designed to transform on-line apparel purchasing.
MySizeID combines someone's measurements fascinated about a smartphone, with anthropometric datbases, and a retailer's sizing charts and database, through a proprietary algorithm that finds the remedy vigorous for every customer.
we are expanding investments in their earnings and advertising infrastructure within the U.S., the Place they diagram to employ additional revenue personnel and application engineers to habits beta testing of MySizeID™ with the technical and govt groups of main U.S. retailers.
Please click here to keep a video demonstrating how MySizeID works.
The apparel e-commerce market in the U.S. by myself is estimated to be an annual $72 billion, with 70% of attire returns being size connected, based on Statista and Drapers Etail document.
Launched RealSize with client TRUCCO – They launched their white label TrueSize apparel size app with their first client, a leading high-conclusion Spanish retailer, TRUCCO, which has over 240 features of sale in additional than 20 international locations. TRUCCO has deepest labeled their TrueSize size implement as RealSize.
Please click here to monitor a video demonstrating how RealSize works.
developing New App for In-store browsing – Their R&D activities now involve the development of a dimension app for use for apparel browsing in physical stores. while e-commerce is a multi-billion market in dire necessity of an reply for sizing, in-save retail attire searching is noiseless a larger market and most most censorious sellers today maintain both on-line and physical stores. With their new app, salespeople in a physical retail reclaim will be empowered to create dimension profiles for consumers. These profiles may also be used for in-store purchases as well as on-line, thereby unifying purchasers' online and offline looking experiences. My measurement's most recent app is being designed to inspire return visits and augment consumer loyalty and retention.
international retail apparel earnings are estimated in 2019 to achieve $1.fifty one trillion according to Statista.com.
Upgraded BoxSizeID™ – They upgraded their BoxSizeID product to permit one-step size which takes simply a number of seconds, growing a stout time discounts for the consumer. traditionally, dimension of boxes required the examination of three different parameters – top, size and depth. Now, with the upgraded BoxSizeID, containers may also be measured in a lone step via inserting the smartphone at the exact corner of the container and protecting it within the air while relocating to the contradictory backside corner. the use of this lone measurement, the BoxSizeID algorithm derives the field's three dimensions and calculates its dimension. The upgrade is at present in trying out part.
Please click here to monitor a video demonstrating how BoxSizeID works.
in keeping with Accenture Consulting, the parcel reclaim up market is anticipated to grow via 9% per year and achieve over $343 billion through 2020.
Launched industrial participate of KatzID with client Katz supplier - right through 2017, they completed beta pilot trying out of KatzID and launched its business part. KatzID is a personal label parcel dimension app in accordance with their BoxSizeID product. KatzID was developed for, and is presently being deployed by, Katz organization, the 2d largest start enterprise in Israel. Katz expects that KatzID will create tremendous each year savings in its courier enterprise, leading to an estimated 2.5% boost in its annual earnings.
Globally, the courier features market includes approximately 7,500 organizations representing about $ninety billion in annual salary, in accordance with marketrealist.com.
achieved list seven hundred,000 Downloads for SizeUp™ – Their dimension app for the selfmade (DIY) market has now been downloaded 700,000 times via the conclusion of 2017. right through 2017, they accelerated availability of the app to 33 different smartphone models. They additionally developed and launched v3.0 of SizeUp to encompass "measurement in the Air" performance, which allows for clients to instantly and precisely measure objects via inserting their smartphone at one halt of the item, lifting it a limited bit and relocating it to the other conclusion, both vertically or horizontally. this protects time and makes the size procedure less difficult for a larger purview of surfaces.
Please click on right here to peer how SizeUp works.
based on Technovia, the world DIY outfit market is forecast to achieve $13.9 billion by using 2021.
Beta trying out New room Dimension App - we're presently beta checking out a room size app for the domestic development market. the times of fidgeting with protractors, measuring tapes, pencils and papers are pretty much over. My dimension's room dimension app has been designed to allow the smartphone consumer to precisely and straight draw a room plan, map the indoors house, and design domestic advancements from the smartphone.
The main Indicator of remodeling recreation (LIRA), posted by means of Harvard college, estimates the home development market at $317 billion annually.
R&D and Patents
Three patents were issued to My dimension in 2017 from the U.S., Japan and Russia for their patent, "The dimension of a cadaver part" for the attire market. The patent covers the combined use of massive information, dimension of a person's dimension, and a retailer's dimension chart, via use of My size's proprietary algorithm.
Our intensive R&D efforts throughout 2017 also resulted in their platform know-how's means to improve accuracy of measurements to inside +/- 1 cm. here is a superb achievement, which they dependence makes My dimension the primary and greatest expertise in the world for the measurements of little gadgets, beneath 50 cm in measurement.
We raised about $8.5 million in the past few months, including $2.5 million in December 2017 and $6 million in February 2018. They should be the use of this funding to boost their technologies and market their items. structure out their earnings and marketing crew, during 2017, they appointed Argun Ersen to guide sales in Europe and Claudio Menegatti to ebook MySize's income and advertising efforts within the vogue market. They maintain been also completely satisfied to token both plus-size mannequin, Emme, and notable vogue stylist, Susan Moses, to characterize My measurement in the attire market.
Our purpose is to recognize here cost-riding milestones in 2018:
We believe that their licensing profits business mannequin lends itself to immoderate margins and immoderate increase. dissimilar, layered revenue streams generated from partnerships with online and physical store retailers involve fees paid via retailers to My size for earnings made when their dimension technology is used. specialized advertising revenues can even be generated when utilizing the My measurement to determine the consumer's exact wants.
we would relish you a prosperous 2018 and thank total their shareholders for his or her guide of My size and their purpose to augment commerce via accurate dimension technologies.
Ronen Luzon Founder and CEO, My measurement
About My size, Inc.
My dimension, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a special measurement technology according to subtle algorithms and leading edge know-how with great applications including the attire, e-commerce, DIY, delivery and parcel start industries. This proprietary know-how is pushed via a yoke of algorithms which might be capable of compute and listing measurements in quite a lot of novel ways. To be taught extra about My dimension, gladden discuss with their web site. www.mysizeid.com. keep us on fb, LinkedIn and Twitter.
Cautionary remark related to ahead-searching Statements
This press release incorporates certain ahead-searching statements inside the import of the safe harbor provisions of the deepest Securities Litigation Reform Act of 1995. These statements are recognized by means of the words "may," "believe," "expect," "intend," "estimate," "expect," "may," "continue," "predict," "knowledge," "task" and similar expressions that are meant to establish ahead-searching statements. total forward-searching statements talk best as of the date of this press unlock. do sure to now not vicinity undue reliance on these ahead-searching statements. however they accept as actual with that their plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are competitively priced, they may give no assurance that these plans, pursuits, expectations or intentions will be executed. forward-searching statements involve significant dangers and uncertainties (a few of which might be beyond their manage) and assumptions that might trigger precise effects to disagree materially from former journey and current expectations or projections. conventional material elements that may trigger precise results to vary materially from these in the forward-searching statements include: an lively trading market for their regular inventory can also not enhance on NASDAQ; the buying and selling rate for their commonplace stock can also fluctuate significantly; and the enterprise will proceed to be a "managed company," as described beneath NASDAQ suggestions, and the pursuits of their controlling stockholder may additionally vary from those of their public stockholders. forward-looking statements also are suffering from the haphazard components described within the enterprise's filings with the U.S. Securities and change fee. except as required by artery of legislation, they undertake no responsibility to update or revise publicly any ahead-looking statements, whether on account of new tips, future activities or in any other case, after the date on which the statements are made or to replicate the prevalence of unanticipated routine.
Israel Press Contact:
Eran Yoels Rimon, Cohen and Co. Eran@rcspr.co.il +972-52-440-8020
U.S. Press Contact:Matthew Bretzius FischTank advertising & PR email@example.com
supply My size Inc.
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