My Size, Inc. (MYSZ): History, Ownership, Mission, How It Works & Makes Money

How is My Size, Inc. (MYSZ) attempting to reshape the future of online shopping, particularly when navigating a challenging financial landscape that included reporting $177,000 in revenue for the first quarter of 2024? This company offers distinctive digital measurement technology designed to tackle the costly issue of apparel returns in e-commerce. Yet, with a reported net loss of $1.4 million in that same quarter, critical questions arise about its operational model and sustainability. Are you curious about the specific mechanics behind their sizing solutions and the strategic decisions shaping their path forward?

My Size, Inc. (MYSZ) History

My Size's Founding Timeline

Understanding where a company started provides essential context for its current position and future potential. The journey began over two decades ago, laying the groundwork for its measurement technology focus.

Year established

The company, originally under a different name, traces its roots back to 1999. It was incorporated in Israel in September 1999 as Topspin Medical Ltd. It later changed its name to Knowledgetree Ventures Ltd. in 2006, and then to My Size, Inc. in 2014, reflecting its pivot towards measurement technology.

Original location

Airport City, Israel. The company maintains its headquarters in Israel.

Founding team members

Information on the specific individuals involved in the initial 1999 incorporation as Topspin Medical Ltd. requires deeper archival research. The shift to My Size in 2014 involved key figures like Ronen Luzon, who became the CEO.

Initial capital/funding

Details on the very initial seed capital from 1999 are not readily available public information. The company later accessed capital through public markets after becoming My Size, Inc. and listing shares.

My Size's Evolution Milestones

Tracking key developments shows how the company navigated technological shifts and market demands.

My Size's Transformative Moments

Several key decisions fundamentally shaped the company's path.

The 2014 Rebrand and Strategic Pivot

Moving away from its previous ventures to focus squarely on mobile measurement technology was the defining moment. This decision concentrated resources on developing the core IP that underpins its current offerings.

Listing on NASDAQ in 2017

Going public on a major US exchange significantly boosted the company's profile and provided crucial growth capital. It was a necessary step for funding continued R&D and market expansion efforts, despite the associated regulatory burdens and market pressures.

Acquisition of Naiz Fit in 2022

This strategic acquisition was pivotal. It immediately expanded the company's customer base, strengthened its technological portfolio with complementary AI-driven sizing tools, and provided a stronger foothold in the European market. This move reflects a strategy aimed at consolidation and scaling within the fashion tech industry, aligning with its overall goals detailed in the Mission Statement, Vision, & Core Values of My Size, Inc. (MYSZ). The integration process continued through 2024, impacting operational expenses and revenue synergies.

My Size, Inc. (MYSZ) Ownership Structure

My Size, Inc. operates as a publicly traded company, meaning its ownership is dispersed among various institutional investors, company insiders, and the general public who trade its shares on the stock market.

My Size, Inc.'s Current Status

As of the end of 2024, My Size, Inc. is listed on the Nasdaq Capital Market under the ticker symbol MYSZ. This public status subjects it to regulatory reporting requirements, including disclosures about significant ownership stakes and changes.

My Size, Inc.'s Ownership Breakdown

The distribution of ownership provides insight into the key stakeholders influencing the company. Below is an approximate breakdown based on available data towards the end of the 2024 fiscal year:

Note: Percentages are approximate and based on publicly available data near the end of 2024; actual figures fluctuate with market activity and filing updates.

My Size, Inc.'s Leadership

The executive team guides the company's strategic direction and operational execution. Understanding their roles is crucial for assessing governance and future prospects. The leadership team steering the company as of late 2024 includes:

• Ronen Luzon - Chief Executive Officer
• Or Shoshana - Chief Financial Officer
• Javier Brandwain - Chief Operating Officer

This leadership team is responsible for executing the company strategy and aligning operations with its objectives. You can learn more about the overarching goals guiding their decisions here: Mission Statement, Vision, & Core Values of My Size, Inc. (MYSZ). Their collective experience is applied across technology development, market expansion, and financial management.

My Size, Inc. (MYSZ) Mission and Values

My Size, Inc. focuses on leveraging technology to solve fundamental challenges in the apparel industry, guided by a purpose centered on innovation and improving the retail ecosystem. Understanding this core drive is essential for anyone evaluating the company's long-term potential, including potential investors. For a deeper dive into who is backing the company, you might find this useful: Exploring My Size, Inc. (MYSZ) Investor Profile: Who’s Buying and Why?

My Size, Inc.'s Core Purpose

The company's direction is shaped by its stated goals and underlying principles.

Official mission statement

To empower consumers and retailers by providing innovative measurement solutions that enhance the online shopping experience, reduce returns, and promote sustainability.

This mission highlights key value propositions:

• Improving customer satisfaction through better fit.
• Boosting retailer profitability by minimizing costly returns.
• Contributing to environmental goals by reducing waste associated with returns.

Vision statement

While not always formally articulated as a distinct 'vision statement' in public materials, the company's clear ambition is to become the industry standard for digital measurement solutions across multiple sectors, fundamentally changing how sizing is handled online and in physical retail environments.

Company slogan

My Size, Inc. does not appear to utilize a single, consistent public-facing slogan across its branding and communication efforts as of early 2024.

My Size, Inc. (MYSZ) How It Works

My Size, Inc. leverages proprietary algorithms and smartphone sensors to capture body measurements, primarily serving the apparel industry. The core function is to provide accurate sizing recommendations, aiming to enhance the shopping experience and reduce costly merchandise returns for retailers.

My Size, Inc.'s Product/Service Portfolio

My Size, Inc.'s Operational Framework

The company's operational engine runs on continuous innovation in measurement technology and algorithm development. Value creation stems from B2B partnerships, primarily licensing its MySizeID SDK to online retailers and deploying its FirstLook Smart Mirrors in physical stores. Revenue models typically involve licensing fees, SaaS subscriptions tied to usage metrics, or hardware lease/sale agreements for the mirrors. A significant operational focus is on streamlining the integration of its technology into partner platforms and providing robust customer support. Translating measurement data into tangible benefits – better fit for shoppers and lower return rates for retailers – is central to their process.

My Size, Inc.'s Strategic Advantages

• Ownership of patented measurement technology that utilizes standard smartphone sensors, making it widely accessible without requiring specialized hardware for the end-user.
• Directly tackling a major financial burden for the apparel sector – high return rates, which can surpass 30% in online fashion, severely impacting margins.
• Capability to amass a large, anonymized dataset of body measurements, potentially yielding unique insights into consumer biometrics and sizing trends across demographics.
• Offering solutions for both digital and physical retail channels creates an omnichannel value proposition attractive to brands seeking unified customer experiences.
• The company's ability to improve retailer efficiency directly influences its financial standing, a key aspect when Breaking Down My Size, Inc. (MYSZ) Financial Health: Key Insights for Investors.

My Size, Inc. (MYSZ) How It Makes Money

The company primarily generates revenue through its portfolio of proprietary measurement technologies, offered via software-as-a-service (SaaS) subscriptions, licensing agreements, and related services, including digital marketing acquired through subsidiaries.

My Size's Revenue Breakdown

My Size's Business Economics

The business model relies heavily on the adoption of its SaaS measurement solutions by e-commerce retailers and related services. Key economic drivers include customer acquisition costs versus lifetime value, subscription renewal rates, and the ability to scale operations efficiently. Significant investment in research and development (R&D) and sales and marketing are characteristic operational costs. Historically, the cost of revenues has been substantial relative to generated income, impacting gross margins, although efforts focus on improving this through software delivery.

• The company aims for recurring revenue through its SaaS offerings.
• High operating expenses, particularly R&D and Sales & Marketing, pressure profitability.
• Scalability of the technology platform is crucial for long-term economic viability.

My Size's Financial Performance

Evaluating the company's financial health requires looking beyond just revenue streams. For the fiscal year ending December 31, 2023, total revenues were reported at approximately $381,000. Despite revenues, the company generated a gross profit of about $76,000, representing a gross margin of roughly 20%. However, substantial operating expenses led to a significant net loss of approximately $6.8 million for the year. Consistent net losses and negative operating cash flow have necessitated reliance on financing activities to fund operations. Understanding these dynamics is key; Breaking Down My Size, Inc. (MYSZ) Financial Health: Key Insights for Investors offers deeper analysis. The path to profitability hinges on significantly increasing high-margin software revenue while carefully managing operational spending.

My Size, Inc. (MYSZ) Market Position & Future Outlook

My Size, Inc. operates as a niche technology provider aiming to enhance efficiency in e-commerce and logistics through its proprietary measurement solutions. Its future outlook hinges on broader market adoption of its MySizeID apparel sizing and BoxSize package measurement tools, facing a landscape crowded with both established players and emerging technologies.

Competitive Landscape

The company competes in distinct segments: apparel sizing technology and logistics dimensioning. Precise market share figures in these evolving niches are difficult to ascertain, but MYSZ remains a minor player striving for growth against more established solutions and technologies.

Opportunities & Challenges

Navigating the path forward involves capitalizing on market needs while overcoming significant hurdles.

Industry Position

My Size, Inc. is positioned as an innovator in the measurement technology space, leveraging smartphone sensors rather than solely relying on camera-based or data-input methods. Its primary focus areas are:

• Apparel E-commerce: Providing its MySizeID solution to online retailers aiming to decrease size-related returns and improve customer satisfaction.
• Logistics and Shipping: Offering BoxSize (following the Orgad acquisition) to optimize package dimensioning, potentially reducing shipping costs for businesses.