Supermarket giant Asda is waging a major price war against industry leaders by slashing the price of top-name perfumes.

Stores in Shoebury and Basildon are undercutting official stockists by 50 per cent in the run-up to Valentine's Day.

Around £1 million worth of fine fragrances have been bought by Asda from "grey market" suppliers - companies not controlled by manufacturers.

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