This shop began as a modest buyer-seller of jewellery, founded by Felipe Sanz del Madrid y del Valle and located at number 36 Calle Montera. Felipe’s sons Juan and Luis took the company a step forward in 1912, when they moved to a new location at number 29. The brothers went their separate ways in 1918. Luis opened a prestigious jewellery shop in the Red de San Luis, and Juan kept the Sanz name and the store in Montera.

Sanz went on to become so successful that he became a supplier to the royal household. As an example of his work, Sanz created a short necklace with seven Colombian emeralds for Queen, Victoria Eugenia. The emeralds came from a crown made by the jeweler Fontenney for Eugenia de Montijo in 1858, who removed the seven stones as she went into exile. Upon her death in 1920, the emeralds were left to Queen Victoria Eugenia.

In 1945 the current store was opened at Gran Vía 7, in the former Casa Hispano Suiza. It is now the Carrera family, owner of the Carrera y Carrera jewellery firm, who runs this business, maintaining some of the brands with which Sanz worked.