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Tiffany & Co.

17.11.2009

Since its foundation in 1837, Tiffany & Co. has been the world's premier jeweler and America's house of design. The company operates 86 Tiffany & Co. stores in the Americas, 96 Tiffany & Co.  stores in the Asia-Pacific region and 24 stores in Europe. Tiffany & Co. employs more than 8,000 people around the world.
The Company's Common Stock is traded on the New York Stock Exchange with the symbol TIF.
At present jewelry sales account about 87% of Tiffany’s net sales. 

The Company's headquarters are located at 727 Fifth Avenue, New York. In 1999, Tiffany purchased the land and 124,000 square foot building housing its flagship store at that address, which was constructed in 1940. Approximately 42,000 square feet of this 124,000 square foot building are devoted to retail selling purposes, with the balance devoted to executive and administrative offices, certain product services, jewelry manufacturing and storage.

Company’s principal subsidiaries:
Glassware Acquisition Inc.;
Societe Francaise pour le Developpement de la Porcelaine d'Art S.A.R.L. (France);
Tiffany and Co.;
Tiffany & Co. (U.K.);
Tiffany & Co. A.G. (Switzerland);
Tiffany & Co. ICT, Inc.;
Tiffany & Co. International;
Tiffany & Co. Japan Inc.;
Tiffany & Co. K.K. (Japan);
Tiffany & Co. of New York Limited (Hong Kong);
Tiffany & Co. (New York) Pty. Ltd. (Australia);
Tiffany & Co. Pte. LTD (Singapore);
Tiffany & Co. Watch Factory S.A. (Switzerland);
Tiffany-Faraone S.P.A. (Italy);
Tiffco Jewelry and Chain Crafts, Inc.

Company History:
Tiffany & Co. has long been renowned for its luxury goods, especially jewelry, and has sought to market itself as an arbiter of taste and style. Tiffany's designs, manufactures, and sells jewelry, watches, and crystal glassware.

In 1837 Charles Lewis Tiffany and John F. Young opened Tiffany & Young, with $1,000 in backing from Tiffany's father. Located on Broadway opposite Manhattan's City Hall Park, this store sold stationery and a variety of "fancy goods," including costume jewelry. Unlike other stores of the time, Tiffany featured plainly marked prices that were strictly adhered to, sparing the customer the usual practice of haggling with the proprietor. Tiffany also departed from the norm by insisting on cash payment rather than extending credit or accepting barter.

In 1841 Tiffany and Young took on another partner, J. L. Ellis, and the store became Tiffany, Young & Ellis. By 1845 the store was successful enough to discontinue paste and begin selling real jewelry, as well as the city's most complete line of stationery.
The new partner's capital enabled Young to go to Paris as a buyer, and he later established a branch store there. When the French monarchy was overthrown in 1848, Young purchased some of the crown jewels and also a bejeweled corset reputed to belong to Marie Antoinette.
Tiffany introduced sterling silver to the United States in 1852, a year after contracting John C. Moore to produce silverware exclusively for Tiffany's. In 1853 he bought out his partners, and the firm became Tiffany & Co.

Tiffany's prestige reached a new level when it won the gold medal for jewelry and grand prize for silverware at the Paris Exposition in 1878. Soon it was serving as a jeweler, goldsmith, and silversmith to most of the crowned heads of Europe. Its real clientele, however, came from the burgeoning ranks of America's wealthy, many with far more cash than taste.

In 1894 a factory was established in New Jersey in Forest Hill, which was later annexed by Newark, for the manufacture of silverware, stationery, and leather goods. Charles Tiffany died in 1902, leaving an estate estimated at $35 million. He was the only Tiffany to run the company. Louis Comfort Tiffany, his eldest son to survive childhood, was an accomplished artist who sometimes made jewelry for Tiffany's but was best known for his Art Nouveau stained glass windows and lamps. In 1905 the store had moved into quarters at Fifth Avenue and 37th Street designed by Stanford White in the form of a Venetian palazzo, and two years later John C. Moore, great-grandson of the silversmith, became president.

Throughout the 20th century Tiffany’s experienced series of ups and downs suffering from the consequences of the World Wars and creating a new standard of quality for Tiffany's products owing to involvement of experiences jewelry designers. The company went to public several times to rase funds and shifted its strategy under each new management.

Official website: www.tiffany.com

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