Brian Duffy was one of Ralph Lauren's senior lieutenants. He is now the boss and part-owner of the UK's leading luxury jewellers. Deputy Business Editor Tom Pegden spoke to him
Scudamore Road trading estate, off the A47, just outside Leicester, is a far cry from the sparkling new £17 million Watches of Switzerland store in Regent Street, London.
For that matter, it's a far cry from the Goldsmiths jewellery and watch store in Leicester's Highcross centre.
But here, in the shadow of the once great British Shoe Corporation building, are the headquarters of Aurum, the holding company of luxury retail brands Watches of Switzerland, Goldsmiths and the quintessentially and elegantly English Mappin and Webb.
It's here, just past the park and ride scheme and a stone's through from the Meynell's Gorse travellers camp, that a retail empire is based.
An empire which sees Harrods and Selfridges as the competition, and which is currently planning an assault on some of the high rent shopping capitals of the world.
Brian Duffy, a friendly, relaxed and focused 60-year-old Glaswegian took over as Aurum's chief executive at the turn of the year.
In that short time, he has overseen changes which include the recently announced acquisition of the online Watch Shop business, a market leader at the fashion end of the UK watch market.
Then there was the opening last month of the 17,000sq ft, three-storey Watches of Switzerland store at 155 Regent Street with a VIP party featuring the likes of footballer's wife Abbey Clancy, Mission: Impossible star Dougray Scott and Radio 1's Nick Grimshaw.
Brian said the new store has "blown everybody away".
He's also seen a string of rebranding and marketing exercises including a stylish, Hitchcock-themed publicity and window campaign for Watches of Switzerland.
Brian started his career in 1979 as a chartered accountant with KPMG, before moving on to Polaroid and Playtex.
He ran Courtalds in Nottingham and Pretty Polly in Sutton in Ashfield, building his expertise, knowledge and reputation at home and abroad.
Along the way, he even took time out to learn guitar at the Academy of Contemporary Music in Guildford, Surrey.
He then had 10 years at Polo Ralph Lauren – seven in Geneva and three back in London – which saw him promoted to European, Middle East and Africa president, overseeing prestigious projects such as flagship openings in Moscow and Boulevard Saint-Germain, in Paris.
Brian said: "I was almost 10 years with Ralph Lauren. I had a great time with them, and basically my reason for leaving was all the travelling I was having to do.
"I covered an area that was a third of the globe – a huge distance, with more than 3,000 people under me.
"The business had been very successful, growing from $400 million to $1.5 billion and had elevated in all markets – a five times rise in sales and a far greater multiple in terms of profits and returns.
"But fashion is very hands-on and needed lots of relationship building and travel around the world.
"I was president of a region, and the real management and control and power was in New York, and I simply decided I wanted to do something more UK-based."
Despite the decision to leave, Brian has nothing but praise for the global clothes giant and it's legendary founder
"Ralph Lauren is inspirational – unbelievably successful with a fantastically intuitive view of business and luxury fashion," he said.
"He's tough and demanding but also very warm and personal and very family orientated, and genuinely values his key management.
"He is a great guy to have learned from and to have been challenged by."
But after years living in cities such as Paris, New York and Geneva, Brian and his wife Helen wanted to be closer to their roots, finally settling in Richmond, Surrey.
When he left in 2012, he patiently waited until the right challenge came along – and a luxury brand he could really sink his teeth into.
That challenge was Aurum, where he replaced Justin Stead.
His week is split between Leicester and Aurum's office in London's Oxford Street.
He said: "I can't believe it's been half a year. It's been great. A lot of it is very familiar for me, but the category is new.
"We had a collaborative transition with Justin and there has been a tremendous welcome and support from the people here.
"The people are very committed and loyal, and hard-working and knowledgeable about their business and many are long-serving, which is testament to the company and its values.
"When this came along it was ideal. I was approached, and there were discussions about investing and that's what happened.
"I have always loved this market and watches, and have collected a few over the years as things of beauty and technology.
"I was drawn to the three brands under Aurum and their heritage. The youngest – Watches of Switzerland – is 90 years old this year, and the other two date back to the 18th century. I had already heard there was a great team here, well regarded in the market and the private equity firm behind Aurum, called Apollo, is an attractive shareholder, with ambitions and interest in growth."
Apollo Global Management bought Aurum in 2012 for around £175 million.
Aurum's accounts for the year to February 2013 showed a turnover of £318.2 million – and profits of £2 million – compared with a turnover of £301 million the year before and £248 million in 2009-10. The Watch Shop acquisition will inevitably add to that.
But Brian is keen to push for growth across the board, while exploiting the online experience of Watchshop.com among Aurum's existing brands.
He said: "Our existing e-commerce businesses have been doing very well recently, growing at 70 per cent year-on-year, ahead of expectations.
"The internet is important to us – we are underdeveloped in the category, playing catch-up, but we have been given a huge step up.
"There have been some aggressive transitions lately with things like tablets and click-and-collect – which has obviously been ideal for someone like Next – and click-and-collect can work for us because people can buy online then come into store where our sales staff can give them advice and assurance.
"Watch Shop offers value and fashion and dominates the watch market below £250 – so effectively we are now selling watches from £100 to £1 million."
Other changes under way include a Goldsmiths relaunch, centred on the concept of people shopping there to celebrate special occasions in life, with the tagline "It all starts at Goldsmiths".
The business is also growing the number of its premium Goldmiths stores from 30 to 60, while looking at the "huge" international potential of Mappin and Webb.
Brian said: "Despite having a historical presence overseas, Mappin and Webb is currently just in the UK so I would say a renewed international move will happen in the short to medium-term.
"We are really developing Mappin and Webb's position as a luxury jewellery brand, as the epitome of English beauty and charm and that ultimate style we think nobody else does.
"It's the same company that supplied the Russian royal family and supplied earrings to Marie Antoinette.
"We are currently the Crown jeweller and have a royal warrant from both the Queen and Prince Charles as silversmiths. There is already awareness and appreciation of what it stands for."
Despite all that glitz and glamour, Brian says there are no plans to move from the Braunstone Frith offices.
"It's very functional. It's where we built up a team that is loyal and full of expertise and hard-working. We've absolutely no reason to change that."
![Ex-Ralph Lauren boss looks to expand city jewellery chain Goldsmiths Ex-Ralph Lauren boss looks to expand city jewellery chain Goldsmiths]()