MySize Boosts Naiz Fit Platform with EyeFitU Acquisition for Enhanced Digital Sizing Solutions

MySize Expands Its Footprint with EyeFitU Acquisition

MySize, Inc. (Nasdaq: MYSZ), a leader in fashion-tech innovation, announces a significant move with a non-binding Letter of Intent (LOI) to acquire select assets from Switzerland-based EyeFitU AG. This transaction represents a strategic initiative to enhance MySize's Naiz Fit platform, which offers advanced digital sizing solutions for the fashion industry. By incorporating EyeFitU’s expertise in sizing algorithms and platform technologies, MySize is poised to strengthen its digital portfolio while addressing crucial challenges in the online retail sector, particularly issues related to size misfit and excess inventory.

The acquisition is estimated to contribute approximately CHF 350,000 (around $440,000) in annual recurring revenue, a welcome boost for the Naiz Fit platform's financial performance. Ronen Luzon, MySize’s CEO, highlights the competitive advantage this merger provides by leveraging EyeFitU’s established relationships with respected brands such as HEAD, Paul & Shark, and POC Sweden. These collaborations are expected to enhance Naiz Fit's offerings and significantly elevate its market presence in both European and international arenas. As MySize integrates EyeFitU's assets, including anonymized sizing databases and CRM data, it aims to enrich its AI-powered capabilities, leading to improved sales outcomes and diminished product returns for fashion brands.

Furthermore, the expansion aligns seamlessly with MySize's overarching goal to create a comprehensive, data-driven platform that optimizes the online shopping experience for consumers and retailers alike. The integration of EyeFitU's technology will not only improve the sizing accuracy for consumers but also address the operational challenges faced by retailers in managing inventory effectively. This strategic acquisition sets the stage for MySize to enhance its market position, as it targets growth opportunities within Northern Europe and other international markets where EyeFitU has already established a solid presence.

In addition to the financial benefits, MySize’s acquisition strategy signifies a commitment to innovating the online retail landscape. With the ongoing shift towards e-commerce, leveraging technology for improved sizing and fit addresses a critical pain point that many consumers face. The merger of these two fashion-tech companies heralds a new era of enhanced digital solutions, positioning MySize to be at the forefront of transforming the customer shopping experience across the globe.

As the integration unfolds, MySize remains optimistic about the strategic synergies and value that EyeFitU will bring to its growing suite of offerings in digital fashion technology. This acquisition not only represents a financial opportunity but reflects MySize's vision of fostering a more seamless, personalized shopping experience for consumers in the increasingly competitive fashion retail market.