My Size, Inc. has acquired ShoeAI by ShoeSize.Me AG for an undisclosed amount, a move that significantly bolsters its position in the digital sizing and measurement technology market. My Size, Inc. is recognized for its advanced solutions aimed at optimizing fit and reducing returns in e-commerce and other sectors. ShoeAI, powered by the Swiss company ShoeSize.Me AG, specializes in making online shoe shopping seamless. Its innovative Shoe Finder uses AI to recommend shoes that shoppers want, are in-stock, and, crucially, fit them perfectly by accounting for variations in shoe sizing across different models and brands.
This acquisition is strategically aimed at integrating ShoeAI's specialized footwear expertise into My Size, Inc.'s broader portfolio of measurement technologies. ShoeAI's platform, which boasts millions of shoe shopping experiences and extensive data on shoe models and brands, complements My Size, Inc.'s existing capabilities. The synergy between the two companies is expected to create a more comprehensive and robust solution for retailers struggling with online fit accuracy, extending My Size's reach into the specialized footwear segment of the market.
The combination of My Size, Inc.'s general measurement prowess with ShoeAI's deep understanding of footwear fit is anticipated to deliver enhanced value to e-commerce platforms. ShoeAI’s ability to learn about each shoe automatically and consider foot widths, shoe widths, and calf widths offers a unique precision. This integration is poised to improve customer satisfaction, significantly reduce return rates, and increase net conversion for online retailers by ensuring shoppers consistently receive the right-sized products.
The newly combined entity is expected to set a new standard for personalized online shopping experiences. By offering an even more precise and user-friendly sizing solution across apparel and footwear, My Size, Inc. aims to solidify its role as a leader in e-commerce optimization, driving efficiency and profitability for its clients while delighting consumers with perfect fit recommendations.