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Beam Suntory has announced that it is relocating its global headquarters from Chicago to New York City in mid-2022.

The owner of brands such as Jim Beam and Courvoisier cognac will establish its new headquarters at 11 Madison Avenue in Manhattan, where it has entered into a long-term lease agreement for approximately 100,000 square feet of space.

The building will also serve as a joint office with Beam Suntory’s parent company, Suntory Holdings, an alcoholic and non-alcoholic beverages company based in Japan.

“As one of the world’s greatest global cities, New York will provide a unique environment to help us accelerate our premiumisation strategy and growth plans,” said Albert Baladi, president and CEO of Beam Suntory. 

“We see excellent opportunities to immerse our company and global brand building efforts more deeply in New York’s vibrant restaurant, bar and consumer environment, what we call the Gemba.”

As part of the move, the company will relocate most executive leadership team positions, its global brand house organisation and select global corporate function roles.

Meanwhile, Beam Suntory’s current headquarters in Chicago will remain its largest global office and home to its North America business unit and certain corporate positions.

Baladi added: “As we look to the future, we anticipate returning to office-based work to enable the kind of collaboration we need to reach our growth ambitions.

“Cities clearly have an important role to play in the future of work, and while we will surely offer a higher degree of workplace flexibility, we will continue to build a strong presence in the key global cities that are closest to consumer trends and our customers.” 

Beam Suntory expects to open the New York City office next year. The spirits company also has offices in global cities such as Tokyo, Shanghai, Singapore, Sydney, Madrid, Frankfurt, London, Delhi and Los Angeles.