$6 Million HQ Supports Pandora's Long-Term Growth Plans

New York Governor Kathy Hochul announced that global jewellery manufacturer Pandora is relocating its North American headquarters to New York City. Pandora, the largest jewellery brand in the world, designs, manufactures, and markets hand-finished jewellery that is sold in more than 100 countries. The company will operate its North American headquarters in a 27,000 square foot office spanning the 35th floor of 1540 Broadway in Times Square. The $6 million relocation will allow Pandora to operate in one of the largest commercial markets in the world.

"New York City is a gem in the retail industry, so it's no surprise that the world's largest jewellery brand has chosen to relocate its North American headquarters here," Governor Hochul said. "Pandora will benefit not only from having a foothold in one of the world's largest commercial markets, but from a talented workforce that is as distinctive as their charms. I look forward to welcoming the headquarters to our city, creating new jobs and economic opportunity for New Yorkers."

New York City is home to one of the world's premier shopping destinations in the United States. The retail sector is a vital part of New York City's economic landscape, from neighbourhood commercial areas to major retail corridors in Manhattan. The opening of Pandora's North American headquarters in New York City marks a strategic next chapter for Pandora as it looks to increase its market share and double its revenue in the United States. A New York City headquarters also enhances Pandora's ability to recruit the talent it needs to implement its plans for growth.

Empire State Development is supporting the project with up to $1.5 million in performance-based Excelsior Jobs Program tax credits. This will support the creation of 133 new full-time employees across various teams, including sales, merchandising, marketing, finance, human resources, digital and e-commerce, real estate, legal and operations. In the coming months, the company plans to add three new stores to its nine current locations across Manhattan, Brooklyn, Queens and the Bronx.

Empire State Development President, CEO and Commissioner Hope Knight said, "Pandora's move to New York City speaks to the strength and talent of the region's retail industry and workforce. New York's commercial market and diverse talent are vital links in ensuring a glittering future for Pandora. We are proud to support their new North American headquarters, which will add new jobs and economic energy to the retail capital of the world."

New York City Regional Economic Development Council Co-Chairs Winston Fisher, Partner at Fisher Brothers, and Félix V. Matos Rodríguez, City University of New York Chancellor, said, "New York City's talented workforce is one of our crown jewels, and we are confident that Pandora will shine thanks to the innovation and expertise they find here. We welcome partnering with this globally renowned company to grow opportunities for New Yorkers, who are at the heart of our regional economy."

New York City Mayor Eric Adams said, "New York City is not coming back — we ARE back. And Pandora choosing the heart of Midtown for its headquarters shows what we have been saying for months: People want to be in the greatest city in the world. I want to thank Governor Hochul for her work to bring quality jobs and economic opportunity to New York City."

President of Pandora North America Luciano Rodembusch said, "The Pandora New York Headquarters is a milestone for the brand as we continue our ambitious growth plans in the U.S. market. Pandora is proud to partner with Empire State Development to continue our investment in the New York retail industry, with the office joining over nine retail locations in New York City, as well as over 30 retail locations across New York State."

Founded in 1982 and headquartered in Copenhagen, Denmark, Pandora employs more than 26,000 people worldwide and is publicly listed on the Nasdaq Copenhagen stock exchange in Denmark. In 2021, Pandora surpassed $1 billion in sales and achieved 51 percent growth. In New York State, Pandora has 26 owned and operated stores and 6 franchised branded stores and presently employs nearly 500 retail workers.