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Pandora to Relocate North American HQ to New York, Invest $6M

The move will support 133 new jobs.

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Jewelry manufacturer Pandora is relocating its North American headquarters to New York.

The company will operate in a 27,000-square-foot office spanning the 35th floor of 1540 Broadway in Times Square, according to a press release from the office of Gov. Kathy Hochul. Pandora’s current North American headquarters is in Baltimore.

“New York City is a gem in the retail industry, so it’s no surprise that the world’s largest jewelry brand has chosen to relocate its North American headquarters here,” 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.”

The relocation will amount to a $6 million investment and support 133 new jobs.

More from the release:

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 neighborhood 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.

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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