Brian Duffy said it was the perfect time for the specialist retailer to float and that the American market presented the best potential to grow “as it’s a bigger market [than the UK] and we start there with a smaller share”.

He said Watches of Switzerland “have our hands full” with projects in the US already, having recently acquired 15 stores in Florida under the Mayors brand name and two stores in Las Vegas, which will open under the Watches of Switzerland fascia.

Duffy also said the retailer would be opening new stores in the next few months, including two in New York, one in Boston and one in New Jersey.