Luxury goods retailer Asprey has appointed former Smythson chief executive Paddy Byng as managing director.

Byng will oversee global operations, starting on February 1, and report to Asprey chairman John Rigas.

Byng has previously held senior roles at Alfred Dunhill and Polo Ralph Lauren.

Rigas said: “We are pleased to have found a leader with a well established reputation, and experience in the luxury industry and an inherent understanding of the British marketplace.”

The luxury goods retailer’s losses worsened by 40% to £24m for the year to March 2010. Asprey made an operating loss of £12.9m and paid interest amounting to £11.2m against a turnover of £13.6m, according to The Mail on Sunday.