Following the company's disclosure of robust sales growth estimates, My Size, Inc. (MYSZ, Financials) shares jumped 112.4% in pre-market trade to $8.96 on Wednesday. Supported by technology innovations and strategic market growth, MySize intends to create $15 million in sales for 2025, a 23% increase from the previous year, and completing 2024 with $8.5 million in income.
Driven by a supplier accreditation with a top European retailer, the company's e-commerce platform, Orgad, is expanding from North America to Europe. According to MySize, reaching one of the biggest retail marketplaces in the world requires a major turn in their approach.
MySize's CEO, Ronen Luzon, remarked that Orgad's success drives the business forward.
Delivered over 42 million tailored size suggestions across 18 countries in 2024, Naiz Fit, an AI-powered sizing solution from MySize, By 5.7 times, the technology raised average order values by 27%; it also lowered return rates by 14% and enhanced conversion rates.
To increase its product offers and geographic reach going forward, MySize is investigating merger and acquisition prospects. The firm intends to increase its activities and improve operational synergies by integrating related companies.
My Size will show its technologies at the Consumer Electronics Show in Las Vegas and the National Retail Federation conference in New York in January 2025.
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