Lady V is out of fashion at Ajanta

Lady Victoria Hervey's latest foray into the fashion world has ended after her business partner announced today she had terminated their relationship.

The 25-year-old former It-girl had been employed as a consultant to upmarket London boutique Ajanta, which is owned by designer Sybil Stanislaus.

But today Ms Stanislaus announced that Ajanta had "terminated its relationship with Lady Victoria".

Lady Victoria previously owned Akademi, a boutique on the same site in Belgravia, south-west London. Akademi went bust after 15 months of trading - owing £350,000.

Ms Stanislaus said: "It is a great pity. At the beginning I had high hopes that Victoria would make a positive contribution to the boutique.

"I felt that she deserved a second chance after the failure of Akademi, and I was happy to help her get back on her feet. Unfortunately, things have not worked out as I would have wished."

Lady Victoria issued a statement confirming that she will no longer act as a consultant and that her company, Mogumbo, will relinquish its stake in the business.

She said: "I am sorry that Sybil and I will no longer be working together, and it is a great pity that things did not work out as we both would have wished. However, I wish Ajanta every success." Her statement said she had been in Los Angeles since before Easter "pursuing a number of new projects", adding: "I am really excited about the opportunities that have arisen during my visit to the States."

Ms Stanislaus gave no further details as to why the partnership ended.