Patek Philippe has opened its first standalone boutique in Spain, inaugurating a 350 square meter space across two floors at Calle Serrano 62 in Madrid, in partnership with Suarez, the Spanish luxury jeweler that has been the brand’s official retail partner since 1975. The opening, which took place on March 17, 2026, established what is now the largest street level high end watch boutique in the Spanish capital.
Over 160 Years in the Making
Patek Philippe‘s relationship with Spain stretches back to the 19th century. In 1866, royal watchmaker Matías Fernández Peña acquired a perpetual calendar timepiece from the Geneva Manufacture for the court of Queen Isabel II, establishing a bond between the brand and Spain that has endured for more than 160 years. It took three years of searching for the right location before the brand’s leadership found a space on Calle Serrano that matched their exacting standards, with the new boutique effectively taking over and expanding the existing Patek Philippe corner that previously sat inside the Suarez multi brand store at the same address.
Mario Giménez, General Manager of Patek Philippe Iberia, said, “This boutique reflects the bond that unites Patek Philippe with Madrid for more than 160 years. We have achieved a perfect balance between Swiss solemnity and the joy of the city, where our clients are the protagonists.”
Three Distinct Spaces for Three Kinds of Experience
The boutique is organized across three carefully differentiated environments, each serving a distinct purpose:
- Main floor: The heart of the boutique, with individual display counters where clients can explore the full collection in conversation with dedicated advisors, covering lines including Nautilus, Aquanaut, and Cubitus
- Three VIP rooms: Private spaces for the most discerning collectors, featuring artisanal reproductions of the brand’s Dome table clocks and a wood engraving sculpture inspired by Picasso‘s Guernica, created by French sculptor Thierry Martenon
- Upper salon: A grand private space with a large table seating 10 guests and a private bar, designed to host exclusive brand experiences and collector events
A Partnership Built Across Generations
For Suarez, the collaboration carries deep symbolic weight. Juan Suarez, CEO of Suarez, said, “The opening of this boutique at Serrano 62 symbolizes more than half a century of shared history between Patek Philippe and Suarez. A relationship built and passed down from generation to generation, which today is reflected in every detail of this space and in the experience we offer our clients.”
Suarez operates a second Patek Philippe point of sale in Bilbao, where the partnership first began in 1975, and the brand currently counts nine authorized points of sale across Spain, including locations in Barcelona, Alicante, Girona, Santander, Granada, Palma, and Vigo.
Madrid’s Luxury Watch Scene Just Got More Competitive
The Patek Philippe opening arrives at a moment when Madrid‘s luxury watch retail corridor is becoming increasingly competitive. Both Richard Mille and Audemars Piguet are also planning standalone boutique openings in the city in 2026 and 2027, signaling that Madrid‘s Calle Serrano and its surrounding streets are fast becoming one of Europe‘s most sought after luxury watchmaking destinations.
