AIRPORT Town, Israel, Nov. 12, 2020 /PRNewswire/ -- My Dimensions, Inc. (the "Firm" or "My Sizing") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement answers, these days offered a business update for that 3rd quarter finished September thirty, 2020. A duplicate of the corporation's quarterly report on Form ten-Q with the 3rd quarter finished September 30, 2020 has actually been submitted Along with the Securities and Trade Fee and posted on the corporation's website at https://ir.mysizeid.com.
Current Highlights
Revenue with the 3rd quarter of 2020 enhanced to $88,000 versus $six,000 for a similar period of time final year.
Integrated and launched MySizeID widget for NOCTURNE, a eu Females's clothing model that types, manufactures, distributes, and sells all set to use apparel
Built-in MysizeID into e-Commerce platform of Tricorp, a number one European workwear supplier
Released custom made clothes built-to-measure function for MySizeID
Ronen Luzon, CEO of My Sizing, Inc., stated, "We've been pleased to report a rise in revenue for that 3rd quarter ended September thirty, 2020, when compared with the identical period of time last 12 months. The rise in revenues through the 3rd quarter was thanks in part to enhanced retailer adoption of MySizeID, our turnkey solution that helps buyers pick out their suitable measurement and healthy while shopping online, which, consequently, lowers the shops' returns and increases their base line."
"Among our world-wide suppliers, Penti, is a wonderful use circumstance case in point for the worth proposition that MySizeID is now offering to retailers:
Penti reported clothing gross sales between prospects applying MySizeID ended up 3X larger that Individuals clients that didn't make the most of MySizeID in excess of a three-thirty day period period of time from March to Could 2020
Penti also reported returns were being diminished by around fifty% for purchasers utilizing MySizeID during the similar three-thirty day period period
We consider these benefits further validate our technological know-how and its efficiency in reducing returns and rising earnings for stores."
"In the quarter, we integrated the MySizeID widget for NOCTURNE, a ecu Women of all ages's apparel brand name that models, manufactures, distributes, and sells ready to dress in attire, and TriCorp, a leading European workwear supplier. Equally vendors view MySizeID as a substantial worth proposition, as MySizeID enhances suppliers' revenues, lowers their running prices, while bettering The buyer's purchasing knowledge and boosting sustainability. We also introduced that we launched a Produced-to-Measure (M2M) feature, which allows retailers to acquire prospects' overall body measurements in place of a dimensions, in an effort to make custom made-produced clothing. We consider the future of the retail business is headed towards designed-to-measure manner and our target is always to be in the forefront of innovation. Our First pilots using the M2M element with numerous shops has become encouraging and we look ahead to rolling out this element with further shops."
"We are running in a tough ecosystem because the intensely strike retail industry is reeling from the results of COVID-19 and Irrespective of our development in the last year, this has slowed our industry penetration. Based upon present-day estimates, we feel that we will attain at the least 10 million measurement suggestions in excess of the study course of 2020. Even so, we consider these impacts are non permanent, and we keep on being optimistic about our advancement system for future calendar year, as we Make our profits pipeline, incorporate foremost stores and pursue new Intercontinental marketplaces for the two MySizeID and BoxSize."
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About My Size, Inc.
My Sizing, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has designed a unique measurement technological know-how based upon refined algorithms and chopping-edge technological innovation with broad apps such as the apparel, e-commerce, Do it yourself, shipping and parcel shipping industries. This proprietary measurement technologies is pushed by quite a few algorithms which have the ability to work out and record measurements in a number of novel means. To learn more about My Measurement, you should go to our Internet site: www.mysizeid.com. We routinely write-up information That could be essential to buyers in the Trader Relations section of our Site. Comply with us on Facebook, LinkedIn, Instagram and Twitter.
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Cautionary Assertion Relating to Ahead-Hunting Statements
This press launch includes certain ahead-searching statements throughout the which means of the Risk-free harbor provisions from the Personal Securities Litigation Reform Act of 1995. These statements are identified by the usage of the words "could," "imagine," "foresee," "intend," "estimate," "count on," "may perhaps," "proceed," "forecast," "potential," "task" and similar expressions which might be meant to identify forward-hunting statements. All ahead-on the lookout statements communicate only as on the day of the push launch. You shouldn't put undue reliance on these forward-searching statements. Though we think that our options, targets, anticipations and intentions mirrored in or instructed via the ahead-on the lookout statements are fair, we may give no assurance that these designs, targets, anticipations or intentions are going to be obtained. Ahead-hunting statements entail considerable hazards and uncertainties (some of that are beyond our Command) and assumptions that would lead to real results to vary materially from historical working experience and current expectations or projections. Genuine final results to vary materially from People within the ahead-searching statements as well as buying and selling rate for our widespread inventory could fluctuate significantly. Forward-wanting statements also are impacted by the chance factors described in the corporate's filings Using the U.S. Securities and Exchange Fee. Apart from as read more needed by legislation, we undertake no obligation to update or revise publicly any ahead-wanting statements, regardless of whether due to new information and facts, long term activities or usually, once the day on which the statements are created or to mirror the incidence of unanticipated gatherings.