12/2022: Governor Kathy Hochul announced that global jewelry manufacturer Pandora, founded 1982 in Copenhagen, is relocating its North American headquarters to New York City. Pandora, the largest jewelry brand in the world, designs, manufactures, and markets hand-finished jewelry that is sold in more than 100 countries. 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.
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. 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.
“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,” 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.”
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.”