MySize Expands AI Sizing Platform with EyeFitU Asset Acquisition Plans

MySize Aims to Enrich Its AI Sizing Platform by Acquiring EyeFitU Assets

MySize, Inc., known for redefining the online shopping experience, announced a significant strategic move via its subsidiary, Naiz Fit. The company has signed a non-binding Letter of Intent (LOI) to acquire key assets from EyeFitU, a Switzerland-based company specializing in digital sizing technology for the fashion retail sector. This acquisition represents a pivotal step for MySize to enhance its AI-driven sizing capabilities and expand its global consumer base.

Innovative Technology and Market Expansion

MySize operates a multifaceted technology platform addressing common challenges in the fashion industry, notably the high rates of product returns and excess inventory. The company's proprietary solutions include Naiz Fit—focused on apparel and footwear sizing—Percentil for secondhand markets, Orgad for overstock sales, and 10peaks for regional distribution. By integrating EyeFitU's technology and relationships with notable brands, MySize intends to strengthen these solutions further.

Ronen Luzon, the CEO of MySize, articulated that EyeFitU’s advanced technology and established partnerships with fashion giants enhance MySize’s technological framework. He expressed confidence that acquiring EyeFitU would not only bolster MySize's product offerings but could also significantly contribute to revenue growth in keyEuropean and international markets. The transaction posits a promising potential to capitalize on EyeFitU’s existing relationships, thereby expanding MySize's footprint.

Details of the Proposed Acquisition

The planned acquisition includes valuable resources such as proprietary sizing algorithms, platform technologies, customer contracts, and anonymized data assets, all of which will be assimilated into the Naiz Fit platform. This move is expected to amplify Naiz Fit's capacity to deliver precise sizing solutions, positively impacting customer satisfaction and reducing return rates.

Evidently, EyeFitU’s collaborations with esteemed brands such as HEAD, Paul Shark, and Ecoalf—which produce considerable annual recurring revenues—present a lucrative opportunity for MySize. The integration of such relationships could significantly enhance the business’ revenue streams as the customer base becomes incorporated into MySize's offerings.

MySize's Growth Trajectory and Future Predictions

Through this acquisition, MySize projects robust potential growth not only in Northern Europe but also in numerous international arenas where EyeFitU has forged notable relationships. The firm has forecasted a path leading to approximately $15 million in revenue for 2026, buoyed by integrated customer relations and enhanced technological capabilities. Prior financial records indicated MySize generated about $8.26 million in revenue for fiscal year 2024, which marks an 18% increase from previous figures.

As the transaction entails due diligence, final negotiations, and customary approvals, MySize is committed to executing the acquisition diligently to secure these valuable assets. The EyeFitU team, including its founder Isabelle Ohnemus and CTO Erik Troelsen, is expected to facilitate a smooth transition upon the completion of definitive agreements, ensuring that the integration process maximizes value for both companies.

Conclusion

In conclusion, by acquiring EyeFitU's assets, MySize stands poised to redefine industry standards in fashion technology. This strategic acquisition not only enhances MySize’s innovative capabilities but also opens doors for expansive growth, as it leverages EyeFitU’s advanced technology and established market connections. MySize is sincerely committed to enhancing the online shopping experience, reducing costly returns for brands, and enabling shoppers to purchase with confidence. As the transaction unfolds, the eyes of the fashion tech industry are undoubtedly set on the developments from MySize and its transformative potential in the sector.