Laings moves into jewellers' row

The family-owned business has agreed terms for a George Street corner site, and will move out of one of its two adjacent units just across the road on Frederick Street, while maintaining its 'Watch Gallery' store.

Michael Laing, fifth generation director of the business founded in Glasgow in 1840, launched its first Edinburgh store in 1978.

He said: "This property is the perfect setting for us. We have been looking for the right location for Laing on George Street for many years now, but suitable properties don't often come onto the market.

"Most of the Georgian buildings have narrow shop fronts, while we needed a property with more presence, greater window space to display our luxury brands and diamond collections and give our customers more opportunity to browse."

Work on the refurbishment of the former Barclays Bank building will begin next month, and bring Laing onto the same street as royal jewellers Hamilton & Inches and more recent arrivals Lime Blue and Rox. The company's brands include Rolex, Cartier, Jaeger-LeCoultre, Breitling, TAG Heuer and Panerai and it is an acknowledged expert in diamonds and design.

Laings of Glasgow, which has three stores, is run by other members of the Laing family and is a separate business.

The company says the new showroom, designed by interiors group Skakel & Skakel, will include "state-of-the-art technology blended with sumptuous interiors based on a neutral palette of mink and soft cream". Two spacious floors will be connected by a sweeping cast iron and glass staircase with contemporary details and textiles throughout the building.

The premises will also house workshops for Laing's team of craftsmen and specialist designers as well as " a thriving service department, which caters to the city's consistent demand for jewellery and watch repairs," the business says.

Mr Laing added: "This is one of the most significant corner sites in the city - we see huge potential for this property as it's very much a blank canvas at the moment. It also gives us the opportunity to bring back some of the Georgian grandeur that you would expect in a World Heritage Site.

"We are opening a luxury store in a key location that will appeal to both international visitors and local customers, reinforcing Edinburgh's reputation as a leading shopping destination."

In addition to its Scottish branches, the Laing family also owns two stores under the established Parkhouse brand, in Cardiff and Southampton.

Mr Laing said: "We are currently looking at expansion possibilities throughout the UK, as well as expanding our digital store presence.

He added: "Our foundations are based on our history and generations of expertise. However, we're a business that continually looks forward, we have a dynamic and innovative culture and our new store better reflects where we want to be."

Laing was founded in 1840 as a manufacturers and clockmakers. The company expanded into jewellery in 1850 and moved into retail in 1939.

Its last accounts showed a 42per cent increase in profit, breaking the £1m barrier, with growth driven primarily by watch and diamond sales. A new e-commerce website was launched last year and Laing says there has been there has been "a continued investment in people, training and IT".