- MySize to monetize portfolio of fashion-tech sizing solutions with high-margin recurring SaaS revenues
- $120 B fashion market in Spain and Italy, Naiz Fit’s core market, is a platform for further growth into the rest of Europe
MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) (“MySize” or the “Company”), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced that following its recent acquisition of Spain-based Naiz Fit, MySize’s expanded portfolio of fashion-tech offerings, led by its sizing solutions, are expected to drive high-margin SaaS revenues in Europe and globally. Further potential growth drivers include Naiz Fit’s Smart Catalogue, a new SaaS product expected to launch imminently with an installed base of customers and MySize’s FirstLook Smart Mirror which is expected to generate recurring monthly lease and subscription revenues.
“Europe leads the fashion world in many ways including in creating the consumer journey, which is increasingly shaped by technology, and the top European fashion brands are using Naiz Fit’s platform as a personal sizing concierge,” stated MySize CEO and Founder, Ronen Luzon. “We believe retailers and fashion brands across the globe look to what’s successful in Europe. MySize can now leverage its European headquarters in Spain to better reach and serve a global customer base, creating solid, steady growth for our high-margin SaaS fashion-tech solutions.”
Naiz Fit’s clients include Desigual, Moschino, El Ganso, Philosophy, Alberta Ferretti, Silbon, and Boglioli Milano, among others.
Europe’s apparel market, estimated at $397 billion in 2022, is larger than the U.S.’s at $312 billion. The fashion markets in Italy and Spain are valued at $90 billion and $30 billion, respectively.
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