Shein outsells British rival Asos as UK revenue hits £2.58bn

Online retailer's 26% jump sharpens focus on exemption letting cheap parcels into the country duty-free

Shein, the online fast-fashion retailer founded in China, increased sales in the UK by just over a quarter last year, overtaking its British rival Asos.

The company, whose global parent group listed on the Hong Kong stock exchange valued at just over $26bn (19.6bn) last month, increased sales at its UK division by 26% to 2.58bn, according to accounts filed at Companies House.