While businesses such as Quiz and Footasylum have woefully underdelivered on the promises made by management at the time of their respective floats, Duffy points to the track record of the jewellery group he helms, which includes Mappin & Webb, Goldsmiths and Watch Shop in addition to Watches of Switzerland.

“We are not going to the market with new plans and asking people to believe us – we have a strong track record,” he says.

“We are in a great category and we lead that category. We have a proven formula and strategy and we have been in the market for a long time.”