Pandora Will Relocate North American HQ to NYC from Baltimore
The company confirmed the move Tuesday and will occupy more than 27,000 square feet in a Times Square office building.
Slated to open in early 2023, the brand’s new North American headquarters will span more than 27,000 square feet on the 35th floor at 1540 Broadway in Times Square, bringing Pandora headquarters to the largest city in its largest market.
Pandora’s U.S. sales topped $1 billion in 2021, a 55 percent year-over-year increase.
“As Pandora enters our third decade of operation in the U.S. 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 Luciano Rodembusch, the former Tiffany executive whom Pandora hired to head its North America division last year.
Pandora said the move will cost $6 million, but it is slated to receive as much as $1.5 million in performance-based Excelsior Jobs Program tax credits from Empire State Development.
Empire State Development is the arm of state government tasked with attracting businesses and creating jobs in New York.
Pandora’s relocation will create 133 full-time positions in sales, merchandising, marketing, finance, human resources, digital and e-commerce, real estate, legal, and operations.
Rodembusch also said the company will continue to invest in the New York retail industry, with plans to open three new New York City stores, all company owned and operated locations, in the coming months. The additions will bring its NYC store count to 12.
Pandora currently has 26 owned and operated stores and six franchise stores across New York state and employs about 500 retail workers.
Reports first surfaced about Pandora potentially decamping from downtown Baltimore in July 2021 when the Baltimore Business Journal reported the company was looking for a subleaser for the five floors of Inner Harbor office space it’s occupied since 2015.
The company has had some operations in New York City since July when it opened a temporary office at 1540 Broadway. At that time, the company said it planned to make the move permanent by summer 2023.
Pandora said Tuesday that its Baltimore corporate office and logistics center in nearby Columbia, Maryland, will remain “open and integral” to business operations.
The company still has a lease at its Baltimore office, located at 250 W. Pratt St., and will remain there through the lease, until “at least” 2026, a Pandora spokesperson said, while there are no plans to close the logistics center.
The office will still house all departments—sales, marketing, legal, e-commerce, etc.—and the spokesperson said Pandora does not know at this time how many employees will relocate to New York from Baltimore.
The Latest
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”