SCOTLAND’S largest city’s pandemic-battered high street has been given a vote of confidence with the announcement of a £5 million investment by a venerable jeweller.
Family-run Laings has signed a 15-year lease to take over Rowan House, the landmark B-listed building on Buchanan Street in Glasgow, as the flagship of its six UK stores.
The independent plans to complete significant updates to the 34,468 square feet of outlet space by later this year.
Laings currently occupies the second and third floor office space, and is now to take the full stone-built five-storey building which has included Monsoon as a retail tenant.
The firm said the contract signals the latest milestone in its strategy which is set to to draw back the curtain on artisan craftspeople and enhance the overall retail experience.
Stuart McDowell, managing director of Laings, said the move is part of a multi-layer expansion.
He said: “The centrepiece of this investment plan is our new flagship showroom in Glasgow, where we’ll be bringing Laings to the forefront while creating unique, immersive experiences for our clients.
“With negotiations to secure Rowan House now complete, and a 15-year lease agreed, we’re excited to be able to announce our plans to deliver a new retail format that captures the imagination of our clients and further enhance the luxury shopping experience in Glasgow.”
It comes amid a time of flux for many retail businesses, with changes in shopping habits said to be partly behind plans to rethink the high street offering, and in Glasgow both Buchanan Galleries and St Enoch Centre being reimagined.
Edinburgh has seen the introduction of the St James Quarter and plans to virtually rebuild shopping centres like Ocean Terminal and Cameron Toll.
The Scottish capital also recently benefited from jeweller investment with Hamilton & Inches’ £3m refurbishment of its A-listed property on George Street.
Glasgow has been home to Laings since it was established in 1840 and the family business has continued to grow as an iconic brand, “offering an outstanding selection of luxury watches and jewellery”. Now stepping out onto the “style mile”, Laings is set to transform Rowan House with the redevelopment plan.
With retail space across the ground and first floors, Laings is set to bring the brands from across its three showrooms within the Argyll Arcade under one roof, as well as showcasing its own offering of fine jewellery and diamonds, with its team of experts all expected to be transitioned to the new unit.
The basement, third and fourth floors will provide office space, with an enhanced hospitality area on the fifth floor, while the second floor will host a new watch workshop.
Laings said the glass fronted workshop will create skilled job opportunities, expanding the aspirational workspaces for watchmakers and goldsmiths, “while inspiring the next generation of talent to train in the field”.
Work to restore the building’s art deco façade is also expected, with the artist impressions featuring corporate flags and retractable canopies as a nod to the original Rowan & Co outfitters.
Joe Walsh, Laings chief executive, said: “As we continue to innovate with our jewellery and watchmaking retail experiences, we’re looking to bring innovation to every area of the business, while never forgetting the deep-rooted heritage of Laings.
“The Argyll Arcade has been an important part of our story and we’re committed to ensuring the success of the arcade continues. Our three Glasgow showrooms have been invaluable as we’ve built our offering and presence in the city, but as we get ready for this next chapter, we’re open to enquiries about our existing retail units in the arcade.”
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