MySize
MySize, Inc., a publicly traded Israeli company that offers AI-driven automated clothing size measurement technology to drive revenue growth and reduce costs for its business clients, has formed a joint venture with Brazilian fashion firm Santista Têxtil, to expand the reach of both Santista and MySize to hundreds of leading Brazilian brands and online retailers in the country’s $33 billion apparel market.
Santista has 93 years of experience in the Brazilian market and has become a national and global leader in fashion, trends, quality, and innovation by creating premium textiles that use the latest technology and sustainable solutions.
Through the joint venture, MySize’s products will be directly marketed to Santista’s extensive customer base which includes local and international well-known brands. Access to MySizeID can reduce returns for these brands by up to 50% and increase the average size order. In addition, the recently launched FirstLook Smart Mirror, an interactive, mirror-like touch display for physical stores that offers personalized fit and product recommendations, will be available.
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The two companies say the MySize-Santista joint venture is designed to reduce expenses, boost average order size, and put sustainability front and center. Every year, returns cost retailers worldwide a staggering $642.6 billion and only 48% of returns can be resold at full price, while 5 billion pounds of returns end up in landfills. In fact, retailers spend as much as 66% of the price of a product to process a return. MySize’s joint venture with Santista aims to address these issues in a meaningful and effective way, positively impacting businesses and consumers alike.
Nowadays people can do just about anything with their smartphones. Someday you will be able to use them to get a diagnosis whenever you are feeling sick.
MySize wants to do the same thing, but with clothing. The idea is simple. People will be able to take their own measurements with an app, upload them and get fitted for clothing on line.
Think about that for a minute. Imagine never having to wait for a fitting and to have to sit through the tailor taking your measurements. This, of course, is not very good news for tailors.
“Santista is a consolidated brand in the Brazilian market and a leader in using innovative technology and sustainable solutions to improve and advance the fashion industry. Having them as our partner in our joint venture showcases the strength of our solutions and the importance of sizing technology in the retail industry,” said Ronen Luzon, CEO, and Founder of MySize. “Now Brazilian retailers will be able to meet their economic and environmental goals, meeting and exceeding the needs of their customers.”
