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Aspinals founder, Iain Burton, described Ms Montague as "the perfect person to take Aspinal on the next stage of its journey. If you cut her wrists, she bleeds handbags." Ms Rotheram, who came from upmarket fragrance company Penhaglion's, is understood to be returning to the beauty sector. The management changes comes shortly after Mr Burton sold a 20pc stake to family investment officeFour

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Seasons earlierthis year. The investmentwill allow the company to open more shops in the Middle East and fund a roll-out of more shops in the UK. Mr Burton, who started the business in 2001, said that the company was also eyeing opportunities in Asia. View photos Michelle Dockery for Aspinal More Last year Mr Burton instructed advisers at PwC to explore a stake sale of the business amid hopes that Aspinal would attract a valuation of around 75m . Mr Burton confirmed that the process was now over following Four Seasons investment. Aspinal, which recently launched a line of accessories inspired by Downton Abbey actress Michelle Dockeryincluding a 1,195 crocodile skin handbag, made sales of 23.7m last financial year. Mr Burton said that the business is on track to record sales of around 28m this year on the back of tourist shoppers and a 40pc surge in online sales. The leather goods brand also has announced plans to open a UK flagship shop this summerin St James's, London,adding to its existing ten standalone shops. View photos Aspinal shop More Mr Burton said that the brand had benefitted from overseas shoppers visiting London who had taken advantage of the weaker pound.

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