My Size, Inc. – Nasdaq: MYSZ
Israeli-based My Size Inc. started trading today under the ticker MYSZ. The idea for MySizeID is the brainchild of the company’s founders. While shopping online for clothes, they were frustrated with the “hit or miss” fit of different brands, and this frustration was augmented by the return process.
MySizeId lets consumers create a secure, online profile of their personal measurements, which can then be utilized with partnered online retailers to ensure that no matter the manufacturer or size chart, they will always get the right fit. For online retailers, MySizeID offers a solution that can potentially reduce returns from online purchases, which will in turn, increase margins and ultimately result in higher brand loyalty.
MYSZ has trade between $5.68 and $6.51 on volumes exceeding 70,000. Reports place five-year growth estimates for MySize, Inc. at 25% which is considered impressive in an industry that has a growth estimate of less than 1%.
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