Its location between the Old Town and the Centre commercial district has made it a landmark of the city.

[1] The clock was completed in 1924 and initially was called the Big Clock (Lielais pulkstenis), but began to carry the name of the Laima confectionery company in 1936.

[1] In 1999 the Laima Clock was fully reconstructed and its original design restored.

The new style clock designed by Arvis Sproģis was unveiled on December 29, 2017.

The reconstruction cost a total of 106,000 euros and was covered by Orkla Group as a gift for 100th Anniversary of the Latvian Republic.