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Investing.com — Shares of measurement technology developer and creator My Size Inc (NASDAQ:MYSZ) have rallied Tuesday after the company said it’s been awarded a contract from Dockers (Turkey).
The shares climbed to a high of $2.97 on the news. It has since lost some of the initial gains but is still trading well above the $2 mark, up around 86% from Monday’s close.
Dockers (Turkey) is an American brand of garments and other accessories from Levi Strauss & Co (NYSE:LEVI).
MySize has been working with Levi’s Turkey for around a year, which has prompted the decision from Dockers to integrate MySize’s proprietary AI-driven sizing technology.
The company said the integration of the MySizeID widget has reduced return rates. Ronen Luzon, CEO of MySize, said, “Our successful integration and results with Levi’s Turkey has led us to this additional opportunity. We believe our land and expand strategy of initially working with a part of a larger company and then being able to penetrate additional brands and geographies within that company will enable us to accelerate our revenue growth in a much quicker timeframe.”
