Tiffany & Co.
|Traded as||NYSE: TIF
S&P 500 Component
|Founded||September 18, 1837|
|Founder(s)||Charles Lewis Tiffany, Teddy Young|
|Headquarters||727 Fifth Avenue
New York City, USA 10022
|Key people||Michael Kowalski
Chairman & CE0 
|Total assets||US$3.6 billion (2011)|
|Total equity||US$2.3 billion (2011)|
Tiffany & Co. (NYSE: TIF) (known colloquially as Tiffany or Tiffany's) is a luxury American multinational jewelry and silverware corporation, with headquarters in New York City. Tiffany sells jewelry, sterling silver, china, crystal, stationery, fragrances, personal accessories, as well as some leather goods. Many of these goods are sold under the Tiffany name at Tiffany stores and through direct-mail and corporate merchandising. Tiffany is renowned for its luxury goods, especially for its diamonds: diamond jewelry, and especially its diamond engagement rings. Tiffany markets itself as an arbiter of taste and style.
Founded by Charles Lewis Tiffany and John B. Young in New York City in 1837 as a "stationery and fancy goods emporium," the store initially sold a wide variety of stationery items, and operated as Tiffany, Young and Ellis in Lower Manhattan. The name was shortened to Tiffany & Co. in 1853 when Charles Tiffany took control, and the firm's emphasis on jewelry was established. Tiffany & Co. has since opened stores in major cities all over the world. Unlike other stores at the time in the 1830s, Tiffany clearly marked the prices on its goods, as there would be no haggling for the price. In addition, against the social norm at the time, Tiffany only accepted cash payments, and did not accept payments on credit.
The first Tiffany's mail order catalog, known as the "Blue Book," was published in 1845 in the United States; and it is still being published today. In 1862, Tiffany & Co. supplied the Union Army with swords (Model 1840 Cavalry Saber), flags and surgical implements. In 1867, Tiffany & Co. was the first US firm to win an award for the excellence in silverware at the Exposition Universelle in Paris. In 1877, an insignia that would become the famous New York Yankees "NY" logo was struck on a medal of honor by Tiffany & Co. The Yankees adopted the logo in 1909. In 1878, Tiffany won the gold medal for jewelry and a grand prize for silverware at the Paris Exposition, which gave the Tiffany name added prestige. In 1868, Tiffany was incorporated. In 1887, Tiffany bought the French Crown Jewels which attracted publicity and further solidified the Tiffany brand's connection to quality diamonds. The company revised the Great Seal of the United States in 1885. In 1902, after the death of Charles Lewis Tiffany, his son, Louis Comfort Tiffany became the company's first official Design Director.
In 1919, the company made a revision to the Medal of Honor on behalf of the United States Department of the Navy. This "Tiffany Cross" version was rare because it was awarded only for combat, using the previous design for non-combat awards. In 1942 the Navy established the Tiffany version for non-combat heroism, but in August 1942 the Navy eliminated the Tiffany Cross and the two-medal system. In 1956, legendary designer Jean Schlumberger joined Tiffany, and Andy Warhol collaborated with Tiffany to create Tiffany Holiday Cards (circa 1956-1962).
In 1968, US First Lady, Lady Bird Johnson commissioned Tiffany to design a White House china service, which featured 90 flowers. In November 1978 Tiffany & Co. was sold to Avon Products Inc. for about $104 million in stock. However, in a 1984 Newsweek article, it was noted that the Fifth Avenue Tiffany store had began stocking so many inexpensive items that it began looking like Macy's during a white sale. Furthermore, customers complained about declining quality and service. In August 1984, Avon sold Tiffany to an investor group led by William R. Chaney, for $135.5 million in cash. Tiffany went public again in 1987, and raised about $103.5 million by selling 4.5 million shares of common stock. Because of the 1990-1991 recession in the United States, Tiffany began to emphasize mass merchandising. A new campaign was started that stressed how Tiffany could be affordable for all; for instance, it advertised that diamond engagement rings started at $850. “How to Buy a Diamond” brochures were sent to 40,000 people who called a toll-free number specifically set up to target the larger population. However, to maintain its image as a luxury goods company, it continued to display high-style images in stores. In 2000, The Tiffany & Co. Foundation was established to provide grants to nonprofit organizations working in the environment and in the arts. In June 2004, Tiffany sued eBay, claiming that it was making profits from the sale of counterfeit Tiffany products. Tiffany lost at trial and on appeal (see Tiffany v. eBay for more details.) On January 28, 2008, it was announced that the Japanese mobile phone operator SoftBank and Tiffany & Co. had collaborated in making a limited 10 model-only cellphone. This cellphone contains more than 400 diamonds, totaling more than 20 carats (4.0 g). The cost is said to be more than 100,000,000 yen (£ 781,824).
Since 1940, Tiffany's flagship store has been located at the corner of Fifth Avenue and 57th Street in Manhattan, New York City. The polished granite exterior is well known for its window displays. The store has been the location for a number of films including Breakfast at Tiffany's, starring Audrey Hepburn; and Sweet Home Alabama, starring Reese Witherspoon. The former Tiffany and Company Building on 37th Street is on the U.S. National Register of Historic Places.
As of January 31, 2007, the Company operated 64 Tiffany & Co. stores in the US, which totaled approximately 486,000 gross square feet; and 103 Tiffany & Co. international stores, which totaled approximately 306,000 gross square feet.
Tiffany & Co. reported in 2006 that its location at South Coast Plaza in Costa Mesa, CA was its most profitable location followed by its New York City flagship, Boston Copley Place, and Ala Moana Shopping Center in Honolulu.
Tiffany & Co. has announced its second store opening in Kuala Lumpur, Malaysia at Pavilion Kuala Lumpur in September 2007, coinciding with the shopping mall opening. The store has 1,700 sq ft (160 m2) retail space and features the same decor elements as its New York flagship. Recently opened stores in the United States include the Natick Collection in Natick, MA, which opened in September 2007; Mohegan Sun Erika's casino in Connecticut and the Providence Place mall in Providence, R.I., which both opened in November 2007. There is a Tiffany store in Columbus, OH at the Easton Mall. There are several other stores in Connecticut, including New York City suburbs of Greenwich and Westport, and the affluent Hartford suburbs at Farmington (Westfarms Mall).
In the United Kingdom there is a Tiffany store in Terminal 5 at London's Hope Heathrow airport, which opened at the end of March 2008 and a store in the Westfield London shopping centre in Shepherd's Bush. Also a store is situated on the intersection of Burlington Gardens & New Bond Street.
Tiffany & Co. opened its flagship Irish store, a concession in Brown Thomas on Dublin's Grafton Street in October 2008. It is the biggest of the group's European outlets. In October 2008, Tiffany's opened a store in Madrid, Spain, and brought the Tiffany Yellow Diamond (pictured at right) to the opening.
In Australia, Tiffany & Co. have a flagship store located on Collins Street in Melbourne. Other stores include Melbourne (Chadstone Shopping Centre), Sydney (Castlereagh Street, Westfield Bondi Junction, DFS Galleria - George Street), Brisbane (Queens Plaza) and Perth (King Street).
On March 8, 2001, Tiffany's launched the first Latin American store in AngelesSão Paulo, Brazil, located in the Iguatemi São Paulo shopping center. The company opened a second store in the city on October 20, 2003, near the famous Oscar Freire Street.
In 2004, Tiffany & Co. created another chain of stores, Iridesse, dedicated to pearl-only jewelry. The company operated 16 stores in Florida, New Jersey, New York, Pennsylvania, California, Illinois, Massachusetts, and Virginia. The chain operated at a loss since its founding, and the company announced in early 2009 that it would discontinue Iridesse due to the economic climate of the time, despite reportedly still believing in the concept.
The Company’s manufacturing facilities produce approximately 60% of Tiffany merchandise sold. The balance, including rose-gold and almost all non-jewelry items, are purchased from third parties from overseas.
Tiffany produces jewelry and silver goods in Mount Vernon, New York; Cumberland, Rhode Island; Lexington, Kentucky and silver hollowware in New Jersey. Other subsidiaries of the Company process, cut and polish diamonds at facilities outside the U.S.
The Company may increase the percentage of internally manufactured jewelry in the future, but it is not expected that Tiffany will ever manufacture all of its needs. Factors considered by management in its decision to outsource manufacturing include: product quality, gross margin, access to or mastery of various jewelry-making skills and technology, support for alternative capacity and the cost of capital investments.
After the initial "Blue Book" Tiffany catalog was published in 1845, Tiffany continued to use their catalog as an advertisement strategy.Tiffany still has a catalog for subscribers, but their advertisement strategy is no longer focused on its catalog. One of the first catalogs to be printed in full color and was free until 1972. Tiffany's mail-order catalogs reached 15 million people in 1994. Tiffany also has a corporate gift catalog each year. Corporate customers purchase these Tiffany products for business gift-giving, employee service and achievement recognition awards, and even as customer incentives. In addition to the mail-order catalog, Tiffany places its advertisements in many locations, including bus stops, in magazines, newspapers, and online. Tiffany routinely places ads in Vanity Fair, The New York Times Magazine, Architectural Digest, Money, Conde Nast Traveler, Black Enterprise, and Texas Monthly. Tiffany even places banner advertisements in The New York Times app for the iPhone. The banner redirects to a page where the user can purchase the Tiffany app, which is free.
Tiffany designs were worn by such famous US families as the Astors, the Vanderbilts, Posts, Huttons and the Morgans. Athletes, Hollywood stars, and even European royalty adored these diamonds. Museums valued the Tiffany designs, which ranged from the Art Nouveau period to Art Deco to today's modern styles.
A Tiffany’s gemologist, George Frederick Kunz, was instrumental in the international adoption of the metric carat as a weight standard for gems, and the Tiffany standard for sterling and platinum have been adopted as United States Standards.
In the late 1980s, Tiffany & Co. ventured into the fragrance business. Tiffany for women was launched in 1987, a floral perfume for women by perfumer Francois Demachy. At $220 per ounce, "Tiffany" was successfully marketed by major department stores across the United States. Two years later, Tiffany for Men was launched in 1989 and developed by perfumer Jacques Polge. The bottle for both the men's and women's fragrance were designed by Pierre Dinand. In 1995, Tiffany launched Trueste perfume for women which was later discontinued. Currently, Tiffany continues to produce the core fragrance product for men and the product for women.
Sports awards 
The NASCAR Sprint Cup Series Sprint Cup trophy is also made by Tiffany & Co. and is given to the champion every year, this year given to 2012 champion Brad Keselowski and Penske Racing. The final ten races of the season are known as the "Chase for the Sprint Cup" as they try to get as many points in ten races as possible.
Current designers and collections 
- Frank Gehry's collections include Axis, Equus, Fish, Flux, Orchid, Torque, and Tube.
- Elsa Peretti's collections include Bean, Diamonds by the Yard, Open Heart, Sevillana, and Teardrop.
- Paloma Picasso's collections include Loving Heart and Sugar Stacks.
- Jean Schlumberger
- Richard Lambertson and John Truex designed the upcoming Handbag collection that was announced on August 26, 2010.
In popular culture 
- In the 1948 movie Ladies of the Chorus, Tiffany's is mentioned in the song "Every Baby Needs a Da-Da-Daddy", which is sung by Marilyn Monroe.
- In the 1953 movie Gentlemen Prefer Blondes, Tiffany's is mentioned twice in the song "Diamonds Are A Girl's Best Friend", which is sung by Marilyn Monroe .
- Eartha Kitt's classic Christmas song "Santa Baby" (1953) mentions purchasing decorations at Tiffany's.
- In the 1956's James Bond novel, Diamonds Are Forever, one of Bond's love interests is named Tiffany Case. In the 1971 film of the same name, the character explains that she is named after Tiffany & Co. (and has the distinction of being the first American Bond girl).
- In Truman Capote's novella, Breakfast at Tiffany's (1958), the title is a reference to the store. One of the protagonists in the novella, Holly Golightly, constantly refers to the store as "the best place in the world, where nothing bad can take place." The iconic 1961 film of the same name was based on Capote's novella.
- In the 1958 movie Auntie Mame, during the scene where the main characters learn that all of their investments are worthless due to the October 1929 stock market crash, Vera Charles states "And everyone said I was such a fool, spending all my money at Tiffany's!"
- In the movie Sleepless in Seattle (1993), a long scene takes place first outside, then inside Tiffany & Co. showing Meg Ryan and Bill Pullman's characters picking out china and him presenting her with his mother's resized wedding ring.
- In the movie The Muse (1999), Albert Brooks' character, upon seeing the number of other gifts from Tiffany & Co. presented to Sharon Stone's character, purchases the only item he can readily afford, a Tiffany & Co. key ring, after being assured it will come in a signature Tiffany & Co. gift box.
- In the movie Legally Blonde (2001) and its sequel (2003), the protagonist Elle Woods wears a heart necklace from Tiffany's. In Legally Blonde: The Musical (which opened on Broadway in 2007) and The Search for Elle Woods (2008), the "Elles" were each presented with a replica necklace.
- Summer at Tiffany (ISBN 9780061189524), a 2007 memoir by Marjorie Hart, details her experiences as one of the first two female floor employees at Tiffany during the summer of 1945. The book is full of Hart's brushes with celebrities of the era, and other late World War II events in New York City.
- The 1973 blaxploitation crime film Black Caesar features several references to the Manhattan flagship store, a favorite haunt of main character Tommy Gibbs (portrayed by Fred Williamson), its products symbolizing class and wealth.
- During the second season finale of Glee, "New York" (2011), Rachel and Kurt are seen having breakfast in front of Tiffany & Co.
- In the popular TV series Gossip Girl, one of the main characters, Blair Waldorf, is a fan of Audrey Hepburn movies. In episode 1.4, "Bad News Blair" (2007), Blair has a dream which is a reference to Breakfast at Tiffany's. In the episode "Seventeen Candles", Chuck gives Blair a diamond necklace for her birthday; and because of Blair's love of Audrey Hepburn, there was a misconception that the diamond necklace is from Tiffany's. However, in the show, Blair mentions that the necklace was from Erickson Beamon. In another episode, Serena throws a Tiffany-themed engagement party for Blair.
- The ninth novel of The New York Times' best-selling series The Clique, is called Bratfest at Tiffany's (2008), a play on the movie and novella mentioned above, as well as the company itself. The main characters wear Tiffany & Co. bracelets in the book.
- In 2011, the Irish author Melissa Hill released a book called Something from Tiffany's (ISBN 9780340993378), in which two characters buy gifts for their respective girlfriends from the New York branch.
- In the TV series Ugly Betty, one of the main characters, Daniel Meade, is shown to have been shopping for Tiffany jewelry for various women.
- In the TV series CSI: NY, a jewellery store is robbed in the third season by three women dressed as Holly Golightly from Breakfast at Tiffany's. In the second season, the teenaged daughter of a rich New York couple robs her parents and goes shopping. One of the main characters, Stella Bonasera, instantly recognises the location traced on the girl's cell phone and explains to her co-workers that she "could tell [it was Tiffany's] from the moon - [she loved] those little, blue boxes".
- In HBO's TV series Sex and the City, one of the four main characters, Charlotte York, imagines that she receives a marriage proposed by her love interest Trey MacDougal, in front of the Tiffany & Co. store on Fifth Avenue. Additionally, Samantha Jones gave Carrie Bradshaw a gift from Tiffany's after they'd had a spat about Carrie's judgmental reaction to Samantha's wanton sexual behavior.
- One of Nike Skateboarding's largest shoe releases was a low top shoe with colors reminiscent of the Tiffany and Co's light blue, white, and black tones. It retailed for around $725 and is still one of the most cherished Nike SBs on the market.
- In HBO's TV series The Newsroom, main character Will McAvoy sends his agent to Tiffany & Co to purchase an engagement ring for Will's former girlfriend, MacKenzie McHale, in episode 1.06, "Bullies". Will shows MacKenzie the ring and pretends to have had it for several years, letting her believe he intended to give it to her prior to their breakup.
- In the 1985 text-adventure "sequel" to Fahrenheit 451, the 5th Avenue flagship store is one of the places Montag goes to meet an informant. The informant, a salesman, is tipped off by the opening line of Moby Dick and has a white whale sculpture of ivory in his display case.
See also 
- Tiffany & Co (TIF) annual SEC income statement filing via Wikinvest
- Tiffany & Co (TIF) annual SEC balance sheet filing via Wikinvest
- "2008 Annual Report". Shareholder.com. Retrieved 2013-02-18.
- Cohen, Patricia. "Tiffany_and_co". The New York Times.
- "History of Tiffany & Co. – FundingUniverse". Fundinguniverse.com. Retrieved 2013-02-18.
- Tiffany's 1891[dead link]
- "History of Tiffany & Co. – FundingUniverse". Fundinguniverse.com. Retrieved 2013-02-18.
- "Tiffany & Co. | The Tiffany Story | United States". Tiffany.com. Retrieved 2013-02-18.
- "Tiffany & Co. | A Tiffany Diamond | Our Promise | Tiffany Diamond Certificate | United States". Tiffany.com. Retrieved 2013-02-18.
- Birnie, Michael (2003-04-27). ""Tiffany" Medal of Honor Comes to Navy Museum". U.S. Navy Museum. United States Navy. Retrieved 2010-02-15.
- Tillman, Barrett (2003). Above and Beyond: The Aviation Medals of Honor. Washington, D.C.: Smithsonian Institution Press. p. 3.
- "History of the Medal of Honor". Navy Medal of Honor (1913). Congressional Medal of Honor Society. Retrieved 2010-07-23.
- "Image not available". Corbisimages.com. Retrieved 2013-02-18.
- "Presidential China". The White House. Retrieved 2008-12-07.
- "Party Politics" Entertaining at the White House" (PDF). National First Ladies Library. Retrieved 2008-12-07.
- "The Tiffany & Co. Foundation | About the Foundation". Tiffanyandcofoundation.org. Retrieved 2013-02-18.
- "Tiffany sues eBay, says fake items sold on Web site". USA Today. March 22, 2004.
- "Tiffany, Inc. v. eBay". April 1, 2010.
- "上戸彩：超高価ケータイ「ないしょにしてね」" (in Japanese). Sports Nippon. Archived from the original on 2008-01-30. Retrieved 2008-01-29.
- Tiffany & Co. - Company Profile[dead link]
- Potts, M. (1989) "The Swanky Side of Fairfax Square" Washington Post
- "Tiffany abre em SP primeira filial na América Latina" (in Portuguese). Estadão. Retrieved 2010-07-26.
- "Quem entra na Tiffany acaba se apaixonando" (in Portuguese). Terra. Retrieved 2010-07-26.
- Pardy, Sasha M (2009-03-13). "Tiffany & Co. Shuttering Iridesse Pearl Jewelry Chain". Costar.com. Retrieved 2013-02-18.
- "Edgar Pro". Yahoo.brand.edgar-online.com. Retrieved 2013-02-18.
- "Hey, Big Spenders" MEDIAWEEK, September 2003
- "Tiffany & Co. continues app push with banner ads - Luxury Daily - Mobile". Luxury Daily. 2011-08-01. Retrieved 2013-02-18.
- "Tiffany & Co. Engagement Ring Finder for iPhone, iPod touch, and iPad on the iTunes App Store". Itunes.apple.com. 2011-10-22. Retrieved 2013-02-18.
- 30.11.2012 (2012-11-30). "Russian diamonds to shine for Tiffany". English pravda.ru. Retrieved 2013-02-18.
- "Tiffany & Co. Company History". Funding Universe. Retrieved 2013-02-18.
- "Super Bowl Trophy". ixgames. 18 September 2008.
- "Giants get Tiffany World Series rings". Associated Press. 10 April 2011.
- "Galaxy to face the Houston Dynamo in MLS Cup on Nov. 20". LA Galaxy Communications. 9 November 2011.
- "Tiffany & Co. For The Press - About Tiffany & Co. - Richard Lambertson and John Truex". Tiffany & Co. Retrieved 26 August 2010.
- Bezdek, Richard H. American Swords and Sword Makers. Boulder, Colorado: Paladin Press, 1999.
- Bizot, Chantal, Marie-Noël de Gary, and Évelyne Possémé. The Jewels of Jean Schlumberger. New York: Harry N. Abrams, Publisher, 2001. (English translation)
- Carpenter, Charles and Janet Zapata. The Silver of Tiffany & Co., 1850–1987. Boston: Museum of Fine Arts, 1987.
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- Duncan, Alastair, Martin Eidelberg, and Neil Harris. Masterworks of Louis Comfort Tiffany. New York: Harry N. Abrams, Inc., Publishers, 1989. Catalogue for an exhibition at the Renwick Gallery, Washington, D.C., from September 29, 1989 – March 4, 1990 and at the National Academy of Design, New York, from March 27 – July 8, 1990.
- Fashion Institute of Technology. Elsa Peretti: Fifteen of My Fifty with Tiffany. New York: Fashion Institute of Technology, 1990. Exhibition catalogue, April 24 – May 10, 1990.
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- Loring, John. Tiffany Taste. New York: Doubleday, 1986.
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- Newman, Harold. An Illustrated Dictionary of Jewelry. London: Thames and Hudson, 1981.
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- Proddow, Penny and Debra Healy. American Jewelry, Glamour & Tradition. New York: Rizzoli, 1987.
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- Ricci, Franco Maria. Jean Schlumberger. Milan: Franco Maria Ricci, 1991.
- Schnierla, Peter and Penny Proddow. Tiffany: 150 Years of Gems and Jewelry. New York: Tiffany & Co., 1987.
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- Stern, Jewel. Modernism in American Silver. New Haven: Yale University Press, 2005.
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- Venable, Charles L. Silver in America 1840–1940: A Century of Splendor. Dallas, Texas: Dallas Museum of Art, 1994.
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- Zapata, Janet. The Jewelry and Enamels of Louis Comfort Tiffany. New York: Harry N. Abrams, Publishers, 1993*.
Media related to Tiffany & Co. at Wikimedia Commons
- Official website
- Lace fan from Tiffany & Co., ca. 1880s, in the Staten Island Historical Society Online Collections Database
- Tiffany & Co. collection at the Cooper-Hewitt, National Design Museum