Shein, the online fast-fashion retailer, has reported a 26% increase in its UK sales last year, reaching £2.58bn. This growth has allowed the company to overtake its British competitor, Asos.
According to accounts filed at Companies House, Shein's pre-tax profits in the UK also rose by 18% to £45.2m. The company's UK workforce, primarily in sales and marketing, expanded from 91 to 113 employees.
The retailer attributed its strong sales to marketing partnerships with music festivals, a pop-up shop on London's Oxford Street, and Christmas gift events held in various UK cities.
These figures are expected to intensify calls for the government to review the "de minimis" rule, which permits cheap parcels to enter the country duty-free. Former UK chancellor Rachel Reeves had previously stated an intention to remove this rule, which allows goods valued at £135 or less to be sent to British shoppers without customs duty, by 2028.