As Mulberry celebrates its 40th birthday, we take a look at a great British brand and speak to its creative director Emma Hill

THEY say life begins at 40. It's a bit of a cliché, perhaps; something convenient to put on a birthday card, like "Flirty at 30" or "Fabulous at 50". The phrase implies a certain confidence; a sense of self-knowledge that comes with advancing years.

That being the case, life has never looked better for Mulberry, the brand established in Somerset in 1971, whose bags are now seen on the most fashionable arms in the world.

Celebrating its 40th birthday this year with the publication of a sumptuously photographed coffee table book, come Thursday and the announcement of its full-year financial results, it should have even more reason to pop open the bubbly. In the six months to September 2010, its total revenue was up 38 per cent, to 44.7m. Autumn/winter orders were up 100 per cent. Profits before tax were up 207 per cent to 4.7m and new stores were planned for Hong Kong, Korea, Qatar and United Arab Emirates. So, no mid-life crisis, then? No rushing out to buy a motorbike or having an inappropriate affair with the office junior?

It almost goes without saying that all this is against the backdrop of a crippling recession that has seen lesser labels bite the dust. And at least some of that success must be down to Emma Hill. The brand's creative director, she joined Mulberry from Chlo in 2008, just as the financial crisis bit and It Bag fever – which had made style icons of the Fendi Baguette, the Dior Saddle and the Louis Vuitton Murakami – was dying a death. Did she ever fear she'd just made the biggest mistake of her life?

"I had such faith in the grass roots of Mulberry that it never really dawned on me the label would be in trouble during these times," she says now. "The luxury market seemed to remain unaffected so I continued as I would without any fear that things may change. We remained loyal to our identity, our heritage, our company ethics and it worked out well for us. The trend for vintage looks and British heritage increased. We were doing the right thing at the right time, I guess."

Indeed, the revival of Mulberry has coincided with that of other heritage brands, such as Burberry (under the inspired creative leadership of Christopher Bailey), Aquascutum, Crombie and Barbour. Even beyond fashion, the likes of MG and Mini are wooing a new generation of fans with their quintessentially British sense of style.

"I think whatever happens to our economy," Hill adds, "we still have a need for great quality craftsmanship and lasting design ... along with a healthy desire for all things gorgeous, of course."

Her first bag for the brand was the Mitzy, which she describes as "a great timeless investment bag", but she remains most famous for the Alexa, inspired, of course, by television presenter, model and style guru Alexa Chung. Almost an anti-It Bag, it is based on the classic Bayswater shape and echoes the simplicity of a school satchel. "You could be wearing it in 40 years and pass it on to your kid," says Hill.

Other muses include the Austrian-born actress Romy Schneider – "I love her effortless chic" – and Hill's own god-daughter Ena, who had a pair of shearling-lined boots named after her by the tender age of nine. "She's a new style icon in the making," boasts her proud godmother. "We also have lots of great friends of the brand, including Florence Welch, Kate Bosworth, Gemma Arterton, Fearne Cotton and Eliza Doolittle to name a few."

But she insists a star following is only part of the story. "Whether it's a celebrity or a real girl on the street, seeing them wear our products is the ultimate compliment."

THEY also say you can tell a lot about a woman from the things she carries in her handbag. Hill – who describes her own sense of style as "British country chic with a twist of fun" – empties her Bright Cabbage Taylor Satchel on request. It's a vivid green, butter soft leather with zip front which retails just shy of 900, and inside she carries Lucas papaw ointment – "OMG! It's absolutely fantastic; it fixes everything" – Miss Piggy's Guide To Life – "I carry it everywhere; its answers all my questions" – and her essential Ray-Ban Aviators.

She admits her personal bag collection is too hefty to count – and it's still growing. "I can see the Carter – a box-style, chain-handled bag in stores in autumn – is going to be my new timeless classic."