Latest news with #RonenLuzon
Yahoo
6 days ago
- Business
- Yahoo
MySize Showcases AI Sizing Leadership at Drapers Social Summit 2025 Amid Growing UK Expansion
AIRPORT CITY, Israel, June 5, 2025 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ), a retail technology company transforming commerce through an AI-powered ecosystem that bridges sizing, returns intelligence, and circular commerce—enabling brands to grow profitably and sustainably across every touchpoint announces that it is participating in the Drapers Social Summit 2025 to be held on June 5, 2025. Through its Naiz Fit division, MySize will engage directly with C-level executives from some of the UK's most iconic fashion retailers during an exclusive roundtable dinner and a full day of thought leadership panels featuring executives from AllSaints, River Island, Primark, GANNI, Harrods, and more. This high-profile event comes as MySize expands its footprint in the UK market—one of Europe's most digitally advanced and sustainability-conscious retail hubs. Building on successful SaaS deployments and a robust commercial pipeline, MySize aims to establish the UK as a strategic cornerstone in its international expansion strategy. "The UK market is critical to our international growth, and this event is a milestone in deepening our relationships and sharing our vision with fashion's top decision-makers," said Ronen Luzon, CEO of MySize Inc. "Our AI technology is already delivering measurable impact, and we're excited to partner with forward-thinking UK brands to drive conversion, reduce returns, and elevate the customer experience." The Company will spotlight its SizeForm, True Feedback, and Smart Catalogue solutions—technologies that have collectively delivered a 5.7x lift in conversion, 27% increase in average order value, and 14% reduction in returns across leading global fashion clients. With dozens of active brand deployments and continued momentum following a successful showing at NRF and CES 2025, MySize is strategically positioning itself to capture demand from UK fashion brands seeking to optimize operations, deliver personalization at scale, and meet growing sustainability mandates. About MySize Inc. MySize, Inc. (NASDAQ: MYSZ) is a global leader in AI-powered size recommendation and digital commerce platforms for the fashion industry. With solutions like MySizeID and Naiz Fit, and its expansion into circular fashion through Percentil, MySize helps retailers improve fit, reduce returns, and enhance the customer journey—online and offline. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and X (formerly known as Twitter). For more information, visit 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 Company's strategic and business plans, technology, relationships, objectives, and expectations for its business, growth. 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. For more information or to schedule a demonstration, please contact: Oren Elmaliah, CFOEmail: ir@ Sources:[1] Statista – UK Fashion Market Value (2024): [2] Drapers – Future of Fashion Event Overview: McKinsey & Company – The State of Fashion 2024 Report: Logo - View original content: SOURCE My Size Inc.
Yahoo
18-05-2025
- Business
- Yahoo
MySize Bets On Fashion Resale With Percentil Acquisition
Israel-based e-commerce and AI-driven apparel-sizing firm MySize aims to expand its reach in fashion resale and up its circularity profile with the acquisition of European second-hand fashion marketplace Percentil. Percentil was founded in Spain to promote second-hand fast fashion from brands such as Zara, Mango and Massimo Dutti. The retailer filed for bankruptcy in February, citing competition from fast-fashion brands such as Shein as a factor. With its acquisition, MySize will reposition the platform as a premium marketplace focusing on higher-value items and an elevated re-commerce experience. More from Sourcing Journal Rising Prices, Falling Confidence: Secondhand Retail Steps Up Up Close: In Conversation with Archive Co-founder and CEO Emily Gittins ThredUp Launches Vintage Popup with Beyond Retro 'Our goal with Percentil is clear: Build a profitable, scalable and sustainable circular fashion business from day one,' said Ronen Luzon, CEO of MySize, Inc. 'This is not about growth at all costs. We are focused on smart, cash-efficient scaling—with a model that generates EBITDA-positive returns from the very beginning.' MySize sees the deal as a potentially profitable investment, as the total transaction value was around approximately 610,000 euros (approximately $679,000), consisting of a 40,000-euro (approximately $44,500) cash payment made by one of MySize's wholly-owned subsidiaries and the assumption of certain customer and labor liabilities and debt and social security payments in the aggregate amount of approximately 570,000 euros (approximately $634,500). MySize financed the acquisition through existing cash reserves without the issuance of additional shares or debt. MySize expects the Percentil business to generate $1.5 million in revenue in the second half of 2025, representing a projected 25-percent increase to the company's total revenue and a step-function improvement in group profitability. 'We believe this to be a strategically sound and financially compelling acquisition,' Luzon said. 'With a minimal upfront investment, we believe that we've secured a revenue-generating business with deep logistics capabilities, a growing customer base and a model that's profitable. We believe that Percentil's integration accelerates our entry into the circular economy while strengthening the financial foundations of our group.' With the acquisition, MySize will launch a B2B resale solution that enables brands to monetize overstock and returns by integrating with Percentil's platform. This will allow fashion brands to sell returned, overstock or pre-owned garments. The platform will help major retailers to comply with new European Union legislation requiring formal reuse plans for garments. The monetization model is SaaS-based, providing recurring revenue streams and potential high-margin scalability. The total accessible market for second-hand and circular fashion in Western Europe is estimated to exceed $25 billion by 2025, according to ThredUp's 2024 Resale Market Report and Statista's projections for the European second-hand apparel market. MySize said the addition of Percentil will create synergies with its existing portfolio of companies, including Naiz Fit, which provides size and fit solutions to reduce returns, and Orgad, MySize's e-commerce and logistics unit. Percentil also will be able to tap into MySize's proprietary AI technology to optimize pricing, enhance product recommendations, personalize user experience and improve operational efficiency. As part of the acquisition, MySize will take select assets of Percentil's operating structure out of bankruptcy, including 17 employees (including the former CEO and chief marketing officer), the central warehouse and its proprietary quality control and picking systems, an AI-powered pricing engine and proprietary garment assessment tools and processes, and a stock of more than 120,000 quality-vetted garments ready for sale. Luzon said that the new Percentil model will offer brands a solution for compliance with the EU Strategy for Sustainable and Circular Textiles, which will soon require plans for reuse, recycling and waste-reduction frameworks as part of environmental responsibility. 'With the EU leading global efforts in textile circularity, we see second-hand platforms evolving from niche alternatives into critical infrastructure for the fashion industry,' Luzon said. 'Percentil gives us a front-row seat in this transformation.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
MySize enters circular fashion, recommerce with Percentil deal
MySize's strategic acquisition for €610,000 ($679,000) follows the insolvency of Percentil's previous proprietor within Spanish jurisdiction. It also marks MySize's first foray into the circular fashion and recommerce sectors. The total cost of the acquisition includes a cash payment of €40,000 made by a subsidiary of MySize and the assumption of certain liabilities related to customers, labour, debt, and social security payments totalling approximately €570,000. Percentil's business model is designed to advance sustainable fashion by offering high-quality used clothing and it operates in Spain, France, Germany, and Italy. The company ensures the quality of products, which in turn promotes higher resale values and enhances the experience for both buyers and sellers. MySize believes this strategy will yield better financial results and customer loyalty than peer platforms such as Vinted and other fast fashion resellers. The deal includes the acquisition of 17 employees from Percentil's team, including its former CEO and CMO, as well as Percentil's central warehouse along with its specialised quality control and picking systems. It encompasses an AI-powered pricing engine as well as proprietary garment assessment tools and processes. MySize has also acquired an inventory of over 120,000 garments that have been rigorously evaluated for quality, positioning the company for an upsurge in sales. MySize plans to rebrand Percentil as a premium marketplace aligning with consumer preferences for quality and authenticity while fostering a premium recommerce experience. This strategic shift aims to bolster the platform's commitment to sustainability through improved profit margins and long-term brand value. MySize CEO Ronen Luzon said: "Our goal with Percentil is clear: build a profitable, scalable, and sustainable circular fashion business from day one. This is not about growth at all costs. We are focused on smart, cash-efficient scaling — with a model that generates EBITDA-positive returns from the very beginning." MySize anticipates that Percentil will contribute $1.5m to its revenues in the latter half of 2025, a projected 25% increase to MySize's overall revenue and a significant enhancement to the group's profitability. The purchase was funded through existing cash reserves without issuing additional shares or incurring debt. "We believe this to be a strategically sound and financially compelling acquisition. With a minimal upfront investment, we believe that we've secured a revenue-generating business with deep logistics capabilities, a growing customer base, and a model that's profitable. We believe that Percentil's integration accelerates our entry into the circular economy while strengthening the financial foundations of our group," Luzon added. Following the acquisition, MySize launched a B2B resale solution that empowers brands to capitalise on excess stock and returned items by integrating with Percentil's system. This scalable service allows fashion brands to resell returned or previously owned garments. Early pilots conducted by Percentil with Springfield and C&A have demonstrated demand for this model among major retailers who are adapting to new EU regulations mandating formal reuse strategies for clothing. MySize intends to incorporate its proprietary AI technology used in solutions like MySizeID and Naiz Fit into Percentil's platform. This integration is expected to improve pricing strategies and personalised tailor product recommendations are expected to improve the overall customer experience. MySize also hopes the AI-driven backbone will reduce customer turnover rates and streamline inventory management. "MySize enters circular fashion, recommerce with Percentil deal" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Fashion United
13-05-2025
- Business
- Fashion United
MySize enters circular fashion market with Percentil acquisition
MySize, AI-driven sizing solutions and omnichannel e-commerce platform, has announced the acquisition of key assets of Percentil, a marketplace for second-hand fashion, with operations across Spain, France, Germany, and Italy for 679,000 dollars. This strategic move marks MySize's entry into the circular fashion and re-commerce sectors, aligning with the company's commitment to sustainable and innovative retail solutions. The acquisition is set to enhance MySize's existing portfolio, which includes the MySizeID and Naiz Fit sizing solutions, by integrating Percentil's extensive inventory and customer base. "Our goal with Percentil is clear: build a profitable, scalable, and sustainable circular fashion business from day one," said Ronen Luzon, CEO of MySize, Inc. "This is not about growth at all costs. We are focused on smart, cash-efficient scaling — with a model that generates EBITDA-positive returns from the very beginning." Percentil, known for its vast selection of pre-owned clothing, has established itself as a trusted name in the European re-commerce market. By acquiring Percentil's key assets, MySize aims to capitalize on the growing demand for sustainable fashion and expand its presence in the European market. This acquisition is expected to contribute to MySize's projected revenue growth, with the company targeting 15 million dollars in revenue by 2025.
Yahoo
28-03-2025
- Business
- Yahoo
MySize Reports 2024 Full-Year Financial Results: Revenue Grows 18% to $8.26 Million and Cash Reserves More Than Double
Revenue increased to $8.26 million, up 18% year-over-year Cash and cash equivalents increased 123% to $4.88 million Shareholders' equity rose 46% to $6.91 million AIRPORT CITY, Israel, March 28, 2025 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven sizing solutions for the retail industry, today reported financial and operational results for the twelve months ended December 31, 2024. Key Financial Highlights for the Year Ended December 31, 2024 Compared to 2023 Total revenue increased 18% to $8.26 million, compared to $7.00 million in 2023 Net loss decreased 37% to $3.99 million, compared to $6.38 million in 2023 Cash and cash equivalents more than doubled to $4.88 million, up from $2.19 million Shareholders' equity increased 46% to $6.91 million, compared to $4.74 million in 2023 Total assets reached $10.06 million, up from $8.99 million Total liabilities decreased to $3.15 million, compared to $4.26 million in 2023 Business & Operational Highlights for 2024: Naiz Fit Growth: Over 100 fashion brands adopted MySize's AI-driven sizing platform, deploying modules like Smart Catalog, True Feedback, and First Look Smart Mirror to optimize fit, reduce returns, and boost conversions. Orgad E-Commerce Strength: Continued contribution to top-line results with AI-driven merchandising across Amazon and other digital marketplaces. Technology Ecosystem Expansion: Deeper integrations with Shopify, Magento, Salesforce, Global-e, Scalapay, Returnly, and Aiuta supported rapid deployment, seamless omnichannel experiences, and stronger client retention across global markets. Management Commentary "In 2024, we advanced our mission of transforming how fashion is sold and experienced," stated Ronen Luzon, CEO and Founder of MySize. "We delivered 18% revenue growth and more than doubled our cash reserves, demonstrating both scale and discipline. Our technology is driving value for retailers, and we believe we're positioned for continued growth through SaaS expansion and e-commerce excellence." About My Size, Inc. MySize, Inc. (NASDAQ: MYSZ) is a global leader in omnichannel e-commerce platforms and AI-driven sizing solutions, including MySizeID and Naiz Fit. The Company's solutions are designed to drive revenue growth, reduce operational costs, and enhance customer experiences for business clients worldwide. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and X (formerly known as Twitter). For more information, visit Cautionary Statement Regarding 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, CFOir@ Logo - View original content to download multimedia: SOURCE My Size Inc. Sign in to access your portfolio
