My Size Inc (NASDAQ:MYSZ)
My Size Inc (NASDAQ:MYSZ) has moved to bolster the level of expertise and experience in its marketing team, with the appointment of All is One Consultancy BV CEO, Claudio Menegatti. The hiring of Mr. Menegatti has since been followed by the release an Android smart measurement App.
My Size Inc (NASDAQ:MYSZ) has tasked Mr. Menegatti with the responsibility of marketing and selling the company’s products and associated software applications.
“The apparel market is one of the Company’s key current focusses and one in which we would like to expand our activity and develop a stream of partnerships. Claudio knows this world well. Moreover, he brings to the Company a long and successful history of guiding the strategy, reorganization, business development, market introduction and hard sales for multi-million dollar companies, including those in e-commerce,” said MySize CEO, Ronen Luzon.
The appointment of Menegatti comes at a time when My Size Inc (NASDAQ:MYSZ) is aggressively ramping its marketing efforts as it looks to generate some value in the $3 trillion a year clothing industry. Given the size of the market, the return rate on clothes purchased online is also high, a problem that My Size Inc (NASDAQ:MYSZ) plans to solve with its new Android app.
Clothing Measurement App
The measurement application that the company has launched uses sophisticated algorithms and cutting-edge technology. Customers can use the app to accurately measure their size for the purpose of accurately ordering the clothing they wish to buy – a big issue with online apparel sales.
“This is a major milestone in the evolution of the company and its R&D program. As of today, many more mobile phone users have the opportunity to access a smart measuring tape, whenever and wherever they need, using only the smartphone they already carry,” said Luzon, CEO of MySize Inc.
My Size Inc (NASDAQ:MYSZ) has also launched BoxSizeID app that it says allows customers, at a touch of a button, to measure the size of a parcel they wish to ship and calculate its exact shipping cost. The app is also designed to provide delivery companies access to logistics data that they can use to improve their efficiencies.
My Size Inc (NASDAQ:MYSZ) stock was up by 20% in Wednesday trading session ending the day at $1.80 a share.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.