News in Numbers

Turkish retailer Trendyol, which is backed by China's e-commerce giant Alibaba, reportedly tabled a £1bn ($1.25bn) offer for British fashion e-commerce retailer Asos back in December with a retail analyst telling Just Style it would be in much a better position today if the offer had been accepted.

Zara owner Inditex reported 13% sales growth during its first quarter to reach EUR7.6bn, despite consumer spending pressures taking its toll on the fashion industry.

H&M Group signs circularity Memorandum of Understanding (MOU) with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and describes the country as one of its primary production locations since 1982.

The average Circular Fashion Index score for the 200 global brands analysed this year has stagnated below three (2.97) on a circularity scale going up to 10, according to consulting firm Kearney.

Mayors from ten European cities have signed a Slow Fashion Declaration, calling on the EU, the G7 and the OECD to impose regulations that will level the playing field between slow fashion entrepreneurs and fast fashion multinationals.