Edinburgh, the Scottish capital once overlooked by luxury watch brands, has started attracting some of the industry’s biggest names. This summer, IWC Schaffhausen and Panerai, two Richemont-owned luxury brands, opened boutiques in the city center, shortly after Breitling unveiled an expanded store in the same area. And Omega is to follow with a new store location planned to open this fall.
City officials say the watch brands’ arrivals and expansions have come as international tourism has increased and Edinburgh’s luxury retail scene has been revitalized by shopping hubs such as St. James Quarter and Multrees Walk.
“Historically, Edinburgh has had a premium retail legacy,” said Susan Hewlett, the brand and marketing director for St. James Quarter, a mixed-use development that includes more than 100 stores and restaurants, residences and the W Edinburgh hotel. “Industries such as financial services, tech and whiskey have fueled the city’s economy for decades.”
She described the current growth as “more of a resurgence than a rise,” adding: “Retail hasn’t just arrived in Edinburgh, it’s being recognized again.”
Edinburgh has long been known as a relatively affluent city, with “Edinburgh by Numbers 2024,” the most recent annual report available from the city council, noting that its 19.33 pound ($26) median hourly pay rate in 2023 was the highest of any British city other than London. The report also said that its approximately 523,000 residents are among Britain’s most educated workforces — an echo of one of the city’s traditional nicknames, the Athens of the North, a nod to its intellectual leadership of the mid-18th century Scottish Enlightenment and its neo-Classical architecture. (The city’s best-known nickname, however, is Auld Reekie, or Old Smoky, said to refer to a time when residential fireplaces fouled the air.)
The same report said the 2.3 million visits to the city by international travelers in 2023 were an increase of nearly 30 percent over the 2022 numbers — largely credited to interest in the annual Edinburgh International Festival and its offshoot, the Festival Fringe. And those travelers’ visits produced £1.5 billion in spending.
Tourism growth, according to an email from Jane Meagher, the leader of the City of Edinburgh Council, has been fueled by strong links to wealthy markets such as North America, China and the Middle East. Several North American airlines offer nonstop flights to the city; the Chinese carrier Hainan Airlines now flies twice a week from Beijing; and both Qatar Airways and Emirates have direct flights to the city, too.
That kind of momentum also has been reflected in Edinburgh’s growing collector base. “The collector community in Scotland is fantastic and growing, especially in the two key demographics of Glasgow and Edinburgh,” Rikki Daman, co-host of the Scottish Watches podcast, said during a recent phone interview from Glasgow.
“It used to be more pigeonholed in Glasgow,” he said. “But Edinburgh has taken things to the next level in the last couple of years. RedBar even held its global meetup across from Edinburgh Castle in 2023, drawing collectors from as far as America and Australia.” (RedBar is known as the world’s largest watch enthusiast and collector community.)
Swiss watches, Mr. Daman said, also are increasingly visible in Edinburgh: “At boutique events and collector meets you see it. There’s a lot of Tudor and Omega, and then you’ll spot the outliers — a Moser, an MB&F, depending on how discerning the collector is. People still feel quite safe wearing watches in Edinburgh compared with London, where there’s concern over theft.”
High on the List
Edinburgh’s profile was among the reasons IWC Schaffhausen opened its first stand-alone boutique in Scotland in July on Princes Street, the city’s main shopping thoroughfare, in the shadow of Edinburgh Castle.
“We noticed a new generation of younger customers, incredibly knowledgeable about watches, seeking that direct interaction,” Christoph Grainger-Herr, IWC’s chief executive, said during a video interview from the brand’s headquarters in Schaffhausen, Switzerland. “This encouraged us to go beyond the top 50 luxury hubs and explore regional cities where people now live, work and shop more due to flexible working habits. Tourism patterns have shifted too — U.S. tourists are now a much bigger share compared to prepandemic years, when Asian tourism, especially from China, dominated. Cities like Dublin and Edinburgh have benefited from this change.
“Edinburgh has long been high on our list, and with the revitalization of Princes Street and the opportunity for a prime corner location just opposite Chisholm Hunter’s multibrand store, it made perfect sense.”
He was referring to the British jeweler and diamond brand Chisholm Hunter, a longstanding retailer partner of IWC, which collaborated with the brand on the new 721-square-foot store. It stocks IWC’s signature lines — including Pilot’s Watches, Portugieser, Portofino and Ingenieur — as well as boutique-exclusive models such as the 41.9-millimeter Pilot’s Watch Chronograph 41 Top Gun Miramar (Ref. IW389409), a light blue ceramic model limited to 1,000 pieces (£11,100, or in the United States $13,500).
“This is one of our newest-generation boutique concepts,” Mr. Grainger-Herr said. “It reflects IWC’s identity rooted in engineering with sharp lines, crisp black-and-white contrasts and a technical yet dynamic feel.” The store features IWC’s Engineering Wall, an interactive display showcasing its mechanisms, case materials and manufacturing process; a lounge and a strap customization studio, as well as a bespoke textile installation by the artist David Nott.
The brand said that the artwork — inspired by the IWC Ingenieur Automatic 42 in black ceramic (£16,800, or in the United States $20,600), introduced in April at the Watches and Wonders Geneva trade show — was woven from Scottish wool in a nod to the country’s textile heritage.
Panerai, an Italian luxury brand with its main factory in Neuchâtel, Switzerland, also partnered with Chisholm Hunter for its first boutique in the city, a Princes Street space that has internal access to the adjacent IWC shop.
“We already have about 30 points of sale in the U.K.” said Guillermo Del Nogal, Panerai’s chief commercial officer, via video call from its Milan headquarters. “We’re not looking to expand massively; instead, we’re focused on upgrading our presence in existing markets.
“If we see a high-potential location like Edinburgh, we want to elevate our presence from a multibrand point of sale to a full boutique.”
The split-level store, which totals 625 square feet, displays timepieces such as the 45-millimeter Radiomir Perpetual Calendar GMT Goldtech PAM01453 Automatic (£37,500, or in the United States $51,400) alongside a Watch Bar, for both sales and cocktails, and a large luminescent wall clock by Panerai. The deep blue carpets and upholstery, as well as some archival imagery, are nods to Panerai’s maritime heritage (The brand began in 1860 as a supplier of precision instruments to the Italian Navy.)
“We also showcase product stories throughout the year,” Mr. Del Nogal added. “Right now it’s the year of the Luminor, Panerai’s icon, so an important part of the store is dedicated to that collection.”
Construction has been continuing on Omega’s new store at Multrees Walk. Its opening date has not been announced, but the 200-square-foot space is to span two levels, with a lounge and bar area as well as displays of watches from the brand’s Constellation, Seamaster, Speedmaster and De Ville collections, plus accessories and fine jewelry.
“Edinburgh is a dynamic city rich in heritage, tradition and modern culture,” Raynald Aeschlimann, the brand’s president and chief executive, said in an email. “Those values are perfectly aligned with our own watchmaking, and it therefore feels like an authentic step to open our first Omega boutique in Multrees Walk.
“Naturally, this city is also a growing and popular destination for the U.K. tourist market,” he wrote, referring to both international and domestic visitors. “The store gives us a wider reach within the country and allows us to connect with valued local clients and also those from across the world.”
A Moment of Opportunity
In addition to the new watch shops coming to the city, another brand, Breitling, doubled the size of its Edinburgh boutique in June.
“We were already in St. James Quarter, and when the unit next door became available it seemed natural to take it,” said Gavin Murphy, the managing director of Breitling UK. “The original boutique, which opened in July 2021, was delivering good business but lacked a bit of theater.”
The new 948-square-foot corner store, in partnership with the Watches of Switzerland Group, features the brand’s industrial-loft store design with exposed brickwork, steel accents and walnut finishes. Additions included a bar and pool table, as well as displays of the Navitimer, Chronomat, Superocean, Premier and Top Time lines, including the 38-millimeter stainless steel Top Time B31 (£4,550 with a leather strap, £4,850 on an integrated bracelet; or in the United States, $5,600 with a leather strap, $5,900 on an integrated bracelet). There also are models sold only in Britain and limited-edition offers.
“We’re a domestic brand with strong national distribution, not London-centric,” Mr. Murphy said. “We have around 27 boutiques across the U.K., in major cities and strong secondary cities like Bath, Leeds, Newcastle and York.”
Other high-end watch brands with a presence in the city include Vacheron Constantin, which opened its first Scottish boutique in Edinburgh on Frederick Street in 2021, while last summer the luxury jewelry and watch retailer Mappin & Webb unveiled its largest showroom in Scotland on Multrees Walk, with dedicated areas for brands such as Cartier, Tudor, Breitling and Girard-Perregaux.
And in April, Swatch reopened its refurbished 53-square-meter store on Princes Street, where it has operated since 2015. It stocks the brand’s main collections alongside its Omega MoonSwatch and Blancpain collaborations.
Overall, city officials said, Edinburgh’s attractions and advantages have created a moment of opportunity global watch brands were eager to seize.
And now, said Roddy Smith, the chief executive of Essential Edinburgh, the city’s business improvement district, the city has to maintain its hold on them.
“Edinburgh is well placed to be a top year-round destination, thanks to its history, heritage, festivals and improving airport connectivity,” he said. “The building blocks are in place. The key is to invest appropriately and market the city effectively.”
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