MySize Inc (NASDAQ:MYSZ) has announced that Naiz Fit, its recently acquired Spain-based fashion tech company, is test piloting Smart Catalogue, an innovative new software-as-a-service (SaaS) based solution, with several of its current customers.
MySize explained that Smart Catalogue helps fashion designers create patterns that optimize fit, with the aim of reducing unsold items and improving economics for fashion brands and retailers while reducing environmental footprint.
“Smart Catalogue is a key asset that Naiz Fit brought to MySize,” the company’s CEO Ronen Luzon said in a statement. “The SaaS subscription-based business model and the value that the solution delivers to retailers is a perfect fit for MySize’s proprietary fashion tech pipeline.”
Citing the Australian Circular Textile Association, MySize noted that nearly 30% of all garment purchases returned to stores are never sold, becoming “dead stock”.
READ: MySize acquires Spain’s Naiz Fit to become leading digital measurement provider in fashion industry
Furthermore, Fashion United UK reports that unsold inventory is a substantial challenge for some of the top fashion brands in the world, including a fast-fashion global company that is sitting on billions worth of unsold inventory, while a luxury brand has destroyed millions of dollars worth of unsold inventory instead of selling at a discount.
Beyond the enormous cost for fashion brands and the environment, the company said customers who can’t find the right fit are also left unsatisfied.
MySize said Smart Catalogue directly addresses these challenges by providing fashion designers with demographic and location-specific data about customer body morphology and fit preferences. Delivered through a user-friendly software platform, it said Smart Catalogue enables informed decisions.
Major retail brands currently piloting Smart Catalogue include Spain-based Desigual, El Ganso, and Silbon, all of which are MySize customers using the Naiz Fit sizing solution.
Better inventory performance
“With the pilot of Smart Catalogue, our designers will benefit from the wealth of data available on the user-friendly platform,” commented Desigual innovative leader Eva Sirera. “Fashion collections are coming to life through designs and specific patterns that are specifically tailored to the demographics and regions in which we sell. We expect to see better inventory performance and more satisfied customers as a result.”
Naiz Fit CEO and co-founder Borja Cembrero Saralegui said the company developed Smart Catalogue based on a clear need in the market for a data-driven solution that addresses apparel fit issues at its very source, during the design phase.
“We’re empowering and supporting the creatives in the fashion industry by informing their intuition with data,” he added. “We believe better fit leads to happier retailer shoppers, resulting in improved sales for our fashion brand customers.”
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