Pandora Aims to Advance US Growth with NY Hub

RAPAPORT... Pandora plans to set up an office in New York that will enable it to expand and manage its US business.The Danish jeweler will open a temporary hub in Manhattan this September, followed by a permanent space in the summer of 2023, it said last week. The location will house approximately 150 corporate employees."New York is the largest commercial market in the US and one of the largest commercial markets in the world, attracting leading talent that will strengthen our brand as we continue to deliver on our business strategy," explained Luciano Rodembusch, president of Pandora North America. "We are also committed to increasing our investment in the New York retail industry - adding to our existing business footprint, which includes nine store locations across Manhattan, Brooklyn, Queens and the Bronx."Pandora is aiming to increase market share and double revenue in the US compared to 2019, it noted. Last year, the company's sales in the US topped $1 billion.The jeweler's first North American hub and its logistics center, both located in Maryland, will remain open, Pandora continued. The company also launched a global digital center in London earlier this year, it added.Image: Pandora's New York charm. (Pandora)