MySize's Naiz Fit Launches New Product for $33 Billion Workwear & Uniforms Market -- Several New Clients Signed

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Nov 02, 2023, 12:00 ET

Industry clients already benefitting from Naiz Fit Workforce with high interest from many more across Europe
Latest addition to MySize's growing portfolio of SaaS recurring revenue products

AIRPORT CITY, Israel, Nov. 2, 2023 /PRNewswire/ -- MySize, Inc. (Nasdaq: MYSZ) (TASE: MYSZ.TA) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced its Spain-based Naiz Fit has launched a new sizing solution product—Naiz Fit Workforce—specifically addressing the needs of the $33 billion global workwear and uniforms market. Based on the Company's AI-driven sizing solutions technology platform, Naiz Fit Workforce solves several challenges and pain points faced by companies who make workwear as well as those who purchase uniforms for their employees.

Some of the largest workwear companies in Spain have already become customers benefitting from Naiz Fit Workforce including Santexo, Norvil, Satara Seguridad, and Uniformes Moyua. Naiz Fit has received interest in the new product from numerous other companies across Europe.

"Naiz Fit Workforce is changing the economics of the multi-billion dollar workwear business by applying fashion-tech and AI to reduce costs and environmental footprint while speeding up delivery and improving customer service," stated MySize Founder and CEO, Ronen Luzon. "This latest product launch is a testament to MySize's commitment to innovation and the power of our technology platform to spawn new products for focused markets where our technology can have an immediate impact."

Traditionally, the workwear industry has been characterized by manual data collection and sizing processes, slower shipment and logistics due to sizing considerations, and inventory/out-of-stock challenges based on size limitations.

Naiz Fit Workforce reduces logistics costs, accelerates order fulfillment processes, optimizes sizing at the manufacturing stage, and saves labor costs and time for employees including essential workers such as police and firefighters who can simply fill out an online form, with no need to physically try on a uniform. Naiz Fit Workforce offers flexibility and comfort for employees including:

On-demand measuring process 100% online
Self-service kiosks
For any type of garment
Automatic size match
Available for mobile, tablet and desktop
Monitors the number of employees measured and the garments needed
Follow ups to re-measure employees if needed
Data safely gathered

The global workwear market was valued at $33 billion in 2023 and is forecast to reach nearly $40 billion by 2028, according to Industry Research.

About MySize Inc.

MySize, Inc. (Nasdaq: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions including MySizeID and recently acquired Naiz Fit to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize's reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.

MySize 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 MySize, please visit our website: www.mysizeid.com.

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Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.

To learn more about MySize and for additional information, please visit: our website: www.mysizeid.com.

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, including statements related to the acquisition, expected revenues, and the expected closing of the acquisition. 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 may 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.

Investor Contacts:
Or Kles, CFO
[email protected]

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SOURCE My Size Inc.