Pandora Shifts North America Head Office to New York

Pandora has moved its North American headquarters to New York amid a push to expand its US business.

The permanent space at 1540 Broadway on Times Square, which replaces the head office in Baltimore, will open in early 2023, the Danish jewelry retailer said Tuesday. It will span 27,000 square feet on the building’s 35th floor.

The Manhattan location will support Pandora’s ambition to double revenue in the US compared with 2019. Sales in the market exceeded $1 billion in 2021, management added. It will benefit from $1.5 million in performance-related tax credits with the help of Empire State Development, a New York State authority that promotes the local economy.

“As Pandora enters our third decade of operation in the US market, a New York headquarters will bolster our long-term growth ambition, with the ability to recruit world-class talent and operate in one of the world’s largest commercial markets,” said Pandora North America president Luciano Rodembusch. “We look forward to establishing this new office with the support of New York State, as we continue to invest in the New York retail industry at large.”

Pandora currently has 26 owned-and-operated stores across the state in addition to six franchised stores. It will also add three new locations to its nine current ones across the New York boroughs of Manhattan, Brooklyn, Queens and the Bronx, it said.

Earlier this year, the company announced it was opening a temporary corporate hub in Manhattan ahead of securing a permanent home. Pandora’s Baltimore hub will remain open through at least 2026, the retailer said.

Image: A Pandora storefront in New York. (Pandora)