My Size unit signs LOI to acquire certain assets of EyeFitU

MySize announced that its subsidiary Naiz Fit has signed a non-binding Letter of Intent to acquire selected assets of EyeFitU AG, a Switzerland-based provider of digital sizing and fit technology for fashion brands and retailers. The proposed acquisition includes EyeFitU’s proprietary sizing algorithms, platform technology and codebase, Shopify integration APIs, FootScanner application, anonymized sizing databases, trademarks, domain portfolio, customer contracts, and CRM data. Upon closing, these assets are expected to be integrated into the Naiz Fit platform to enhance its AI-powered sizing capabilities and expand its global customer base. EyeFitU has established relationships with international fashion and sportswear brands, including HEAD, Paul & Shark, POC Sweden, Giant, Assos, Ecoalf, Odlo, and CMP. EyeFitU’s existing customer base generates approximately $440,000 in annual recurring revenue. Upon closing, this revenue is expected to transfer to Naiz Fit and be accretive to the company’s annual revenue. The company believes this revenue base has the potential to grow over time as EyeFitU’s customer relationships and technology are integrated into the Naiz Fit platform. Through this transaction, MySize expects to strengthen its presence in Northern Europe and expand its reach in additional international markets where EyeFitU has developed brand relationships.