Driving force behind Mulberry to step down

Since joining in 2008, Ms Hill is credited with turning the Somerset-based firm from a trusted briefcase and wallet maker into an international fashion powerhouse with a clutch of celebrity fans.

Last year she was made a CBE.

Profits soared as its Alexa and Del Rey designs (named after TV presenter Alexa Chung and singer Lana del Rey) were picked up by A-list stars around the world.

But on Thursday it is expected to reveal its bottom-line has been hit by tougher markets in Asia, a post-Christmas fall in tourist spending and attempts to improve the quality of its distribution network.

Shares plunged 8 per cent in the wake of a short announcement by the company that Ms Hill was to quit.

It said: “Mulberry confirms that Emma has informed the company that she wishes to leave after a very successful period at Mulberry during which she has built a strong and talented creative team working for her.

“The timing of her departure is currently under discussion and has yet to be finalised.”