Madrid’s Golden Mile gets even more luxurious: Swiss watchmaker Richard Mille opens a boutique on Ortega y Gasset

The Swiss watchmaker Richard Mille has established itself on Madrid’s Golden Mile: on September 28 it opened the doors of its boutique at 10 Calle José Ortega y Gasset, a space of more than 400 square metres designed to distil the essence of the brand and its value proposition. 

“Spain has been part of Richard Mille’s history since the brand’s early years, and we have been keen to open a boutique in Madrid for over a decade. However, we were determined to wait until we found the right location: a place with the character, independence and proportions needed to create far more than a traditional retail environment,” said Peter Harrison, Richard Mille’s CEO for the EMEA region, in a statement.

The Swiss brand says it found some of its earliest customers and business partners in the Spanish market, helping to forge “a strong and lasting relationship” with the country. “As Richard Mille’s distribution model evolved towards mono-brand boutiques, Madrid became the natural choice for the brand’s first independent presence in Spain. The ambition was to create a space capable of fully embodying the brand’s identity whilst also connecting with the character of the city,” the company emphasises.

The boutique’s interior aims to capture “the spirit of Madrid through the materials, proportions and atmosphere,” drawing on natural textures, warm woods, bronze accents, tiles, illuminated arches, beamed and coffered ceilings, and locally sourced furniture and decorative pieces. 

The more than 400-square-metre space is arranged across two areas, linked by a circular glass-enclosed lift and a staircase. The upper level, dedicated to sales, features a polishing room that “places the brand’s technical ‘savoir-faire’ at the heart of the customer experience.” The lower level is devoted to hospitality and comprises lounges, a dining room, a bar and a wine cellar, along with a private lounge.

Richard Mille may not be one of the best-known brands among the general public, but it certainly is within the ultra-luxury segment. Headquartered in Les Breuleux, in the Swiss Jura region, it was founded in 2001 and has since climbed the ranks to become one of the leading names in high-end watchmaking. Its turnover, according to reports by Morgan Stanley and as reported by the business newspaper Expansión, is estimated at around €1.6 billion a year… with a production of just 6,000 watches.

Founded at the turn of the century by Dominique Guenat and Richard Mille, it is now led by the second generation: Alexandre and Amanda Mille (children of Richard Mille) and Cécile and Maxime Guenat (children of Dominique Guenat). Its product proposition is built on a blend of haute horlogerie techniques and cutting-edge, highly resilient materials, which is why it is a popular name among Formula 1 drivers, at golf tournaments and in regattas.

In a key step in its commercial strategy, Richard Mille decided in 2019 to sell its designs exclusively through its own boutiques, and it now operates around 40 worldwide (meaning that the number of watches available in each of its shops is around a hundred). On Calle Ortega y Gasset in Madrid, where it has just opened, it will share the area with luxury giants such as Dolce & Gabbana, Cartier and Hermès.