MySize Inc said it has struck a deal with a Brazilian-based clothing brand, which will see it license the company's MySizeID mobile app sizing solution.
The solution, which will allow customers to find the perfect fit, is expected to go live for 7 For All Mankind (Brazil) customers in the third quarter of 2022.
"We are excited to work with a leading brand in Brazil that serves high-end savvy customers within the denim-fashion field," said Ronen Luzon, CEO and founder of MySize in a statement. "7 For All Mankind's commitment to continuous improvement to serve humanity is admirable, and MySizeID is pleased to partner with them in their mission."
READ: MySize says it is positioned to serve the rise of hybrid retail with its FirstLook Smart Mirror
Esber Hajli, CEO of 7 For All Mankind (Brazil), added: "By implementing MySizeID, an innovative, market-leading sizing solution, we believe we can significantly reduce returns and its associated financial and environmental costs. We chose MySizeID with confidence based on the AI-driven technology's impressive track record, ease of use, and documented performance results."
MySize noted that 70% of returns for clothing purchased online is fit-related, costing retailers worldwide $642.6 billion. Moreover, 5 billion pounds (weight) of returns end up in landfills.
The company's MySizeID solution syncs the user's measurement data to the retailer's sizing chart, and only presents items for purchase that match their measurements to ensure a correct fit.
Major global brands that have implemented MySizeID have seen a between 44% and 50% reduction in returns, 20% increase in order size, and a three times' transaction value among MySizeID users, it added.
MySize is an omnichannel eCommerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients.
Contact the author at giles@proactiveinvestors.com