Sir Paul Smith’s fashion products are wholesaled in 66 countries around the world, but he still believes in getting personally involved in his growing company – both as designer and chairman.

He famously despises debt, and believes in growing his fashion business from its own resources. This principle has served him well during the downturn and allowed him to invest further in the business, including a £10 million warehouse and head office facilities in his native Nottingham and stores around the world. A new wholesale showroom has been built in Dusseldorf in Germany.

His fashion brand made a £31.4 million profit in the year to June 2012 – a slight dip on the previous years. Sales reached £202 million, with £70.2 million of that coming from the UK. He paid himself a £3.3 million dividend.

He is as well-known in Japan as he is in the UK, with more than 200 stores there. It seems they can’t get enough of his distinctive designs.

And in September he opened a new shop in the Mandarin Gallery in Singapore – his third shop in that country. A new womenswear shop in Paris opened in December and a flagship store on Albermarle Street in London is planned for the spring.

A collaboration with famous country clothing manufacturer Barbour has resulted in a new range of men’s and women’s clothing available from Paul Smith’s outlets.

He also has stores in Melbourne, Amsterdam, Kuwait, Bangalore, New York, Los Angeles, Antwerp, The Philippines, Istanbul, Hong Kong, Milan, St Petersburg and Red Square in Moscow – all part of a business worth well over £300 million. Sir Paul’s 57 per cent stake is worth at least £190 million. A share sale to Japanese licensee Itochu by his wife and other assets puts our valuation of the Smith wealth at £280 million.

Last year he was awarded the Medaille de la Ville de Paris award for his contribution to the richness of the French capital.

At the age of 16, with no career plans or qualifications, Paul Smith was propelled by his father into a menial job at a local warehouse in Nottingham where he lived. Ambitions to become a racing cyclist were crushed following a bad accident and so, inspired by conversations with students at the local art college, he moved into the world of fashion.

After managing a boutique, he poured his modest savings into a shop. At the same time he took evening classes in tailoring and enlisted the help of his then girlfriend Pauline Denyer (now Lady Smith).

That was in 1970. Now, more than 40 years later Paul Smith, art lover and enthusiastic blogger at the age of 66, is a global fashion icon.

Sir Paul continues to play an active part in the company which has 17 outlets in the UK. He also takes a detailed interest in the Japanese business, designing the clothes, choosing the fabrics and approving shop locations. He is an enthusiastic supporter of cycle sport, and is also an admirer of good design in bicycles. He can often be seen riding around London on his favourite Mercian.

He was awarded an honorary Fellowship of RIBA, the Royal Institute of British Architects. He was knighted in 2000.