My Size Inc (NASDAQ:MYSZ) investors are thrilled to see the Israeli tech firm entering a collaborative alliance with global apparel network International Apparel Federation, “IAF.” For a firm that has designed unique body measurement technology that aims to transform the way consumers think of buying clothing online, becoming an associate member of the IAF could be a strategic move in gaining footing in the apparel industry. As such, shares are flying almost 10% this morning.
According to IAF which was founded in 1972, “IAF’s membership includes apparel associations from more than 40 countries, representing over 150,000 companies who provide products and services to the apparel industry – a membership that represents more than 20 million employees. The associate members of IAF include prominent companies in technology, business services, retail, logistics, culture and education.”
“We are pleased to be an associate member of the premier global apparel industry organization,” said My Size CEO, Ronen Luzon. “This will provide a tremendous opportunity to work with fellow like-minded members including retailers and brands who are interested in using technological advancements, such as products and services provided by My Size, to optimize apparel industry operations.”
My Size offers customized solutions that become critical to eliminating the sizing and measurement issues impacting several burgeoning markets, including retail, parcel delivery, and do-it-yourself (“DIY”) home improvement, seamlessly embedding the core technology behind the Company’s TrueSize™, SizeUp™ and BoxSizeID™ applications into any company’s existing or white label mobile app. The technology provides users with the ability to instantly and accurately measure objects with a quick movement of their mobile phone. The Company’s proprietary and patent-pending algorithms utilize a smartphone’s sensors, combined with anthropometric data, to accurately measure everything from everyday objects to body measurements.