Barcelona - October 13, 2022 - MySize, an Israeli company specializing in artificial intelligence measurement technology, has acquired Spanish startup Naiz Fit to join forces and boost its international growth in size recommendation solutions.
Nasdaq-listed MySize is an omnichannel e-commerce platform and provider of AI-based e-commerce measurement solutions. Its tools include Orgad, an online retail platform that operates as a third-party seller on Amazon, among others; FirstLook Smart Mirror, a mirror-like touchscreen that offers customers an enhanced shopping experience and enables contactless payments; and MySize, a size measurement technology that includes a variety of applications aimed at enhancing the customer experience in the apparel, e-commerce and DIY industries, as well as improving package shipping and delivery.
Naiz Fit, is a Basque company specializing in size recommendation and fitting for fashion e-commerce. Its technology works with two algorithms that work together combining more than 21 body measurements. Thanks to this disruptive technology, users do not need to measure themselves or fill out long forms. By simply providing information about their height, weight, age, gender, and fit preferences, they can get the right size. Naiz Fit is previously in charge of carrying out a body morphology and garment fitting study.
As a result of the acquisition, Naiz Fit's more than 40 customers such as Desigual, Moschino, El Ganso, Silbon, Boglioli Milano or Alberta Ferretti among others, will benefit from a broader portfolio of products and solutions aimed at reducing returns and improving the shopping experience of their online and offline users.
"By combining MySizeID and Naiz Fit sizing solutions, we hope to bring unprecedented sizing technology to the fashion industry," said Ronen Luzon, CEO, and founder of MySize. "We believe the acquisition will bring many benefits to the industry in the short and long term, as well as being a strategic move. ", he added.
In addition, the acquisition will be followed by the launch of Naiz Fit's latest product, Smart Catalogue, a solution designed to help product and design teams in the fashion industry to optimize the planning and design of their collections with more information about their customers' data in real-time and taking into account the morphology of their customers in all the markets in which they operate.
Borja Cembrero Saralegui, the co-founder of Naiz Fit, commented, "Our existing customers will benefit significantly from Naiz Fit joining MySize, a Nasdaq-listed company with a global reach serving some of the world's largest retailers and offering complementary products such as FirstLook Smart Mirror. Our pure e-commerce and hybrid apparel retailer customers will have access to the best portfolio of solutions to improve the economics of their business."
In short, both companies are joining forces to combine their teams and lead an international expansion, offering more solutions to their customers at a time when fashion is facing high return rates and supply chain problems.
About Naiz Fit
Naiz Bespoke Technologies SL is a company founded in Donosti in 2017 with the aim of solving the problems generated by size and fitting in fashion e-commerce. Through two algorithms that study the garment and the body of users, the Startup offers an online size recommendation service called Size From and a product that helps product and design departments to better understand the needs and behaviors of users to optimize the design and planning of fashion collections called Smart Catalogue.
About MySize Inc.
MySize, Inc (NASDAQ: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-based measurement solutions such as Orgad, its online retail platform that operates as a third-party seller on Amazon.com and other sites, FirstLook Smart Mirror, a mirror-like touchscreen that offers in-store customers an enhanced shopping experience and contactless checkout, and MySize, a measurement technology with broad applications, including the apparel, e-commerce, DIY, shipping and package delivery industries.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.