Beginning early next year, Pandora will move its North American headquarters to New York City from its longtime headquarters in Baltimore.
The new headquarters will span more than 27,000 square feet on the 35th floor of 1540 Broadway in Times Square. The company signed a 15-year lease for the space, at a rent of $82 per square foot, sources told the New York Post.
Pandora opened a temporary location at 1540 Broadway, formerly called the Bertelsmann Building, in September.
Pandora plans to keep its current Baltimore corporate office at 250 W. Pratt Street through at least 2026. That office and the brand’s logistics center in Columbia, Md., “will remain integral to business operations,” the company said.
Pandora plans to add three new stores to its nine current locations in New York City. Pandora has 26 owned and operated stores in New York state, as well as six franchised stores.
Pandora’s U.S. business reached over $1 billion in sales in 2021.
The new office will create 133 new full-time jobs in New York City. Empire State Development, a corporation owned by the state of New York, will support the $6 million project with up to $1.5 million in performance-based Excelsior Jobs Program tax credits.
“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, president of Pandora North America, in a statement.
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