AIRPORT Metropolis, Israel, Nov. twelve, 2020 /PRNewswire/ -- My Measurement, Inc. (the "Business" or "My Dimension") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement methods, these days presented a company update with the 3rd quarter finished September thirty, 2020. A replica of the corporation's quarterly report on Form 10-Q for the 3rd quarter finished September thirty, 2020 has long been submitted Using the Securities and Exchange Fee and posted on the corporation's website at https://ir.mysizeid.com.
Current Highlights
Revenue for the 3rd quarter of 2020 greater to $88,000 as opposed to $6,000 for a similar interval very last 12 months.
Integrated and launched MySizeID widget for NOCTURNE, a eu Females's apparel manufacturer that models, manufactures, distributes, and sells wanting to dress in apparel
Built-in MysizeID into e-Commerce platform of Tricorp, a number one European workwear supplier
Released custom made clothes built-to-measure feature for MySizeID
Ronen Luzon, CEO of My Dimensions, Inc., stated, "We have been pleased to report a rise in revenue for that third 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 greater retailer adoption of MySizeID, our turnkey Answer that can help people pick their ideal sizing and match even though shopping on the web, which, subsequently, reduces the stores' returns and enhances their bottom line."
"Amongst our global merchants, Penti, is an excellent use scenario illustration for the worth proposition that MySizeID is now offering to merchants:
Penti noted apparel sales among customers using MySizeID were 3X higher that Those people shoppers that did not make use of MySizeID over A 3-month interval from March to May possibly 2020
Penti also documented returns had been reduced by somewhere around 50% for patrons working with MySizeID in the course of the exact same a few-month interval
We imagine these final results further validate our technological know-how and its efficiency in decreasing returns and raising revenue for suppliers."
"During the quarter, we integrated the MySizeID widget for NOCTURNE, a ecu women's apparel model that layouts, manufactures, distributes, and sells able to don clothing, along with TriCorp, a leading European workwear provider. Both of those merchants look at MySizeID as a big benefit proposition, as MySizeID increases merchants' revenues, lowers their working fees, even though enhancing the consumer's purchasing knowledge and boosting sustainability. We also introduced that we introduced a Created-to-Measure (M2M) function, which enables merchants to receive customers' body measurements instead of a sizing, so that you can make personalized-manufactured clothes. We think the way forward for the retail sector is headed in direction of produced-to-evaluate style and our goal will be to be on the forefront of innovation. Our Original pilots using the M2M aspect with various merchants has long been encouraging and we anticipate rolling out this feature with added retailers."
"We have been functioning inside a hard atmosphere as being the closely hit retail market is reeling from the results of COVID-19 and Inspite of our progress over the past yr, this has slowed our current market penetration. Based on present estimates, we think that We'll get to not less than ten million sizing tips around the course of 2020. Nevertheless, we think these impacts are short-term, and we stay optimistic about our here growth strategy for next calendar year, as we Establish our gross sales pipeline, insert primary suppliers and pursue new international marketplaces for equally MySizeID and BoxSize."
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About My Dimension, Inc.
My Sizing, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has designed a unique measurement technology based upon advanced algorithms and chopping-edge technological innovation with wide programs such as the apparel, e-commerce, Do-it-yourself, shipping and delivery and parcel shipping and delivery industries. This proprietary measurement technological know-how is driven by various algorithms which can easily calculate and report measurements in many different novel techniques. To find out more about My Sizing, make sure you check out our Web-site: www.mysizeid.com. We routinely publish data Which might be crucial to investors inside the Investor Relations area of our Web page. Abide by us on Fb, LinkedIn, Instagram and Twitter.
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Cautionary Assertion Relating to Forward-On the lookout Statements
This press launch has specific ahead-hunting statements within the indicating in the Harmless harbor provisions on the Non-public Securities Litigation Reform Act of 1995. These statements are recognized by using the phrases "could," "consider," "anticipate," "intend," "estimate," "assume," "might," "keep on," "forecast," "possible," "job" and similar expressions that happen to be meant to determine forward-hunting statements. All ahead-on the lookout statements communicate only as on the day of the push launch. You shouldn't position undue reliance on these ahead-looking statements. Even though we think that our strategies, aims, anticipations and intentions mirrored in or instructed via the ahead-on the lookout statements are reasonable, we may give no assurance that these plans, objectives, anticipations or intentions are going to be obtained. Ahead-hunting statements entail important hazards and uncertainties (a few of which can be beyond our control) and assumptions which could bring about real outcomes to vary materially from historical experience and current expectations or projections. Genuine final results to vary materially from People within the ahead-searching statements as well as trading rate for our frequent inventory might fluctuate appreciably. Forward-hunting statements are also affected by the danger things described in the business's filings Along with the U.S. Securities and Exchange Fee. Besides as expected by regulation, we undertake no obligation to update or revise publicly any ahead-wanting statements, no matter if due to new information and facts, future activities or otherwise, after the date on which the statements are created or to replicate the prevalence of unanticipated occasions.