Tiffanys
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Formerly called
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Tiffany, Young and Ellis (1837-1853) |
|---|---|
| Public | |
| Traded as | : TIF S&P 500 Component |
| Industry | Retail |
| Founded | September 18, 1837 |
| Founder | |
| Headquarters | 727 Fifth Avenue New York City, New York, U.S. 10022 |
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Area served
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Worldwide |
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Key people
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| Total assets |
 US$3.79 billion (2013) |
| Total equity |
US$2.32 billion (2013) |
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Number of employees
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10,600 (2014) |
| Website | tiffany.com |
Tiffany & Company (known colloquially as Tiffany or Tiffany's) is an American luxury jewelry and specialty retailer, headquartered in New York City.
Tiffany sells jewelry, sterling silver, china, crystal, stationery, fragrances, water bottles, watches, personal accessories, as well as some leather goods. Many of these goods are sold at Tiffany stores, as well as through direct-mail and corporate merchandising. Tiffany is renowned for its luxury goods and is particularly known for its diamond and sterling silver jewelry. Tiffany markets itself as an arbiter of taste and style, and was once a purveyor to the Russian imperial family.
Founded by Charles Lewis Tiffany and John B. Young in Brooklyn, Connecticut 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 & Company in 1853 when Charles Tiffany took control and established the firm's emphasis on jewelry. Tiffany & Company 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 to forestall any haggling over prices. In addition, against the social norm at the time, Tiffany only accepted cash payments, and did not accept payments on credit. Such practices, fixed prices for ready money, were first introduced by Palmer's of London Bridge in 1750, who employed the young Robert Owen, the later social reformer.
The first Tiffany's mail order catalog, known as the "Blue Book," was published in 1845 in the United States (U.S.); and publishing of the catalog continues in the 21st century. In 1862, Tiffany & Company 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 1868, Tiffany was incorporated.
In 1870, the company built a new store building at 15 Union Square West, Manhattan, designed by John Kellum and costing $500,000. It was described by The New York Times as a "palace of jewels". Tiffany stayed at this site until 1906.
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Wikipedia