Tiffany & Co. has been a symbol of luxury and elegance for over 180 years. Founded in 1837 by Charles Lewis Tiffany and John B. Young, the company started as a small stationery and "fancy goods" store.
The first Tiffany store was located on 259 Broadway in New York City, and it quickly gained popularity for its high-quality goods and exceptional customer service. In 1853, Charles Tiffany bought out his partner and renamed the store Tiffany, Young and Ellis.
Tiffany & Co. has been a pioneer in the jewelry industry, introducing the first open six-prong setting in 1886. This innovative design allowed more light to pass through the diamond, making it appear larger and more brilliant.
History of Tiffany & Co.
Tiffany & Co. has a rich history that spans nearly 200 years. The company was founded in 1837 by Charles Lewis Tiffany and his partner J.B. Young as Tiffany & Young.
Its first store was a "fancy goods" store on Broadway in New York, with first-day sales totaling just $4.98. This modest beginning laid the groundwork for the brand's future success.
In 1845, Tiffany pioneered the first direct mail catalog, the iconic "Blue Book Collection", showcasing the brand's exquisite offerings to a wider audience. This innovative move helped the company reach a broader customer base.
Charles Lewis Tiffany assumed sole ownership in 1853, officially renaming the business Tiffany & Co. This marked the beginning of the company's rise as a global luxury powerhouse.
Tiffany made significant strides in jewelry innovation, introducing gold fashion jewelry in 1868.
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Establishment and Milestones
Tiffany & Co. was founded in 1837 by Charles Lewis Tiffany and John B. Young in New York City, with a $1,000 investment from Charles Tiffany's father, who financed the store with profits from a cotton mill.
The company initially operated as "Tiffany, Young and Ellis" at 259 Broadway in Lower Manhattan, selling a wide variety of stationery items. It wasn't until 1853 that Charles Tiffany took control and shortened the name to Tiffany & Company, establishing the firm's emphasis on jewelry.
Tiffany & Co. was known for its innovative business practices, including clearly marking prices on its goods to avoid haggling and only accepting cash payments, which was a departure from the social norms of the time.
Establishment
Tiffany & Co. was founded in 1837 by Charles Lewis Tiffany and John B. Young in New York City.
The store initially operated as "Tiffany, Young and Ellis" at 259 Broadway in Lower Manhattan, selling a wide variety of stationery items.
It was Charles Tiffany's father who financed the store for only $1,000 with profits from a cotton mill.
Tiffany clearly marked the prices on its goods to forestall any haggling over prices, a practice that was innovative for its time.
The company shortened its name to Tiffany & Company in 1853, when Charles Tiffany took control and established the firm's emphasis on jewelry.
Against the social norm at the time, Tiffany only accepted cash payments and did not allow purchases on credit.
This approach had first been introduced in 1750 by Palmer's of London Bridge, and it set Tiffany apart from other stores of the time.
Tiffany & Co. has since opened stores in major cities worldwide, expanding its reach and reputation.
The company's commitment to transparency and cash-only transactions has remained a hallmark of its business model.
20th Century
In 1905, the Manhattan flagship store was relocated to the corner of 37th Street and Fifth Avenue, where it would remain for 35 years.
The company made a significant revision to the Medal of Honor in 1919, creating the rare "Tiffany Cross" version, which was awarded only for combat.
The Navy established the Tiffany version for non-combat heroism in 1942, but later eliminated it in August of the same year.
Tiffany moved its flagship store to its current location at 727 Fifth Avenue in 1940, a building designed by Cross & Cross.
Tiffany's designs became synonymous with post-war jewelry innovations thanks to legendary designer Jean Schlumberger, who joined the company in 1956.
Schlumberger's iconic designs, such as the Bird on a Rock brooch, continue to be celebrated for their ability to blend nature and fantasy in high jewelry.
Lady Bird Johnson commissioned Tiffany to design a White House china-service in 1968, featuring 90 flowers.
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In 1978, Tiffany & Co. was sold to Avon Products, Inc for about US$104 million in stock.
By 1984, the Fifth Avenue Tiffany store was filled with inexpensive items on sale, much to the dismay of customers who complained about declining quality and service.
Tiffany went public again in 1987 and raised about $103.5 million from the sale of 4.5 million shares of common stock.
During the 1990-1991 recession, Tiffany emphasized mass merchandising and affordability, with diamond engagement rings starting at $850.
To maintain its luxury image, Tiffany continued to display high-style images in its stores, even as it targeted a broader market with its marketing efforts.
Locations
As we look back on the establishment and milestones of our company, it's worth noting that we have a strong presence in the US.
We have multiple locations, with the primary one being at 727 5th Ave in New York, New York 10022.
One of our other locations is in Parsippany, New Jersey, where you can find us at 15 Sylvan Way.
We also have a location in Chicago, Illinois, at 730 N Michigan Ave.
Our main office is located at 727 5th Ave, New York, NY 10022.
Here are our locations:
Acquisition and Expansion
Tiffany & Co. was acquired by LVMH in 2021 for $15.8 billion.
LVMH launched a star-studded ad campaign to honor Tiffany's rich heritage, featuring Beyoncé and Jay-Z alongside Jean-Michel Basquiat's painting Equals Pi.
The acquisition led to the replacement of several of Tiffany's senior leaders with executives from other sectors of LVMH.
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2000s
In the 2000s, Tiffany & Co. made significant strides in their expansion efforts. The Tiffany & Co. Foundation was established in 2000 to provide grants to nonprofit organizations working in the areas of the environment and the arts.
Tiffany & Co. faced a notable challenge in 2004 when they sued eBay, claiming that the latter was profiting from the sale of counterfeit Tiffany products. However, Tiffany lost the case at trial and on appeal.
To better manage their diamond supply chain, Tiffany & Co. established their subsidiary Laurelton Diamonds in 2002.
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2010s and 2020s
In 2017, Tiffany & Co. underwent significant leadership changes, with CEO Frédéric Cuménal being abruptly replaced by Michael Kowalski after just 22 months.
The company's efforts to refresh its image were led by Reed Krakoff, a former Coach designer appointed as chief artistic officer, despite having no prior experience in jewelry design.
Tiffany & Co. launched its Tiffany HardWear collection in April 2017, marking a new direction for the brand.
The company opened the Blue Box Cafe in New York City in November 2017, offering a unique dining experience.
Tiffany & Co. also launched its Home & Accessories line in November 2017, expanding its product offerings.
In March 2018, the company opened the Jewelry Design and Innovation Workshop, a 17,000-square-foot atelier.
The Paper Flowers Collection, designed by Reed Krakoff, was launched by Tiffany in May 2018.
Tiffany True, a new proprietary engagement ring design, was debuted by the company in September 2018.
The brand stopped purchasing diamonds from Russia after the country's invasion of Ukraine, but later continued to do so through intermediaries.
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Acquisition by LVMH
LVMH purchased Tiffany & Co for $16.2 billion in November 2019, but later cancelled the deal in September 2020 due to financial losses during the COVID-19 pandemic.
Tiffany was paying millions in dividends to shareholders despite the losses, with $70 million already paid and an additional $70 million to be paid in November 2020.
LVMH filed a counterclaim against Tiffany for its mismanagement during the pandemic.
The case was set aside after LVMH agreed to purchase Tiffany at a reduced price of almost $16 billion in October 2020.
Tiffany was delisted from the New York Stock Exchange when the deal closed in January 2021.
Several of Tiffany's senior leaders were replaced with executives from other sectors of LVMH after the acquisition.
Alexandre Arnault was given the role of executive vice president.
LVMH completed its acquisition of Tiffany & Co for $15.8 billion in 2021.
LVMH launched a star-studded ad campaign featuring Beyoncé and Jay-Z, along with Jean-Michel Basquiat's painting Equals Pi, which features a blue backdrop reminiscent of Tiffany’s signature Blue Box.
Beyoncé performed a soulful rendition of Moon River in the campaign, a song famously associated with Audrey Hepburn and the 1961 film Breakfast at Tiffany’s.
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Jewelry and Products
Tiffany & Co. is renowned for its exquisite diamond and sterling silver jewelry. The company's expertise in gemology is evident in its adoption of the metric carat as a weight standard for gems.
The Tiffany Yellow Diamond, weighing 128.54 carats, is a stunning example of the company's commitment to quality. This iconic diamond is usually on display in the New York City flagship store.
Tiffany's innovative designs have made it a leader in the industry. The Tiffany Setting ring design, conceived by founder Charles Tiffany in 1886, features six prongs that hold the diamond off the band, accentuating its beauty.
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Stores
Tiffany's flagship store has operated at the corner of Fifth Avenue and 57th Street in Manhattan, New York City since 1940.
The store has undergone an extensive renovation starting in 2019, concluding in 2023, and reopened to the public on April 27.
The former Tiffany and Company Building on 37th Street is on the U.S. National Register of Historic Places.
Tiffany's largest store outside of New York City is located at Fairfax Square in Tysons Corner, Virginia, with 14,500 sq ft of retail space.
The Avenue des Champs Elysées in Paris is home to Tiffany's largest European store.
Tiffany's flagship store in Australia is located on Collins Street in Melbourne, first established in 1996.
As of 2018, Tiffany operated 93 stores in the US and 321 stores worldwide.
In 2018, net sales totaled US$4.44 billion.
Tiffany opened a store in Shanghai Taikoo Li Qiantan in December 2023, with a facade designed by MVRDV.
Tiffany & Co. opened their newest store at QueensPlaza in Brisbane in April 2024.
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Luxury Goods & Jewelry
Tiffany is known for its luxury goods, particularly its diamond and sterling silver jewelry. The company has a long history of creating exquisite pieces that are highly prized by collectors and connoisseurs.
In 1886, founder Charles Tiffany conceived of the Tiffany Setting ring design, which features six prongs that hold the diamond off the band to better accentuate the gemstone. This design has become a classic of luxury jewelry.
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Tiffany has a strict policy against the repurchasing of diamonds sold from its stores, which means that once you buy a diamond from them, you can't sell it back. This policy has been in place for many years and is a testament to the company's commitment to the integrity of its products.
The Tiffany Yellow Diamond, which weighs 128.54 carats, is usually on display in the New York City flagship store and is one of the world's largest and most renowned fancy yellow diamonds. This stunning gemstone is a symbol of the brand's enduring legacy of excellence and innovation in the world of fine jewelry.
Tiffany offers jewelry incorporating a wide variety of colored gemstones, including tsavorite, kunzite, and morganite. These gemstones are highly prized for their unique beauty and rarity.
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Fragrances
Tiffany & Co. ventured into the fragrance business in the late 1980s.
Their first fragrance for women, "Tiffany", was launched in 1987 and was a floral perfume developed by perfumer François Demachy. It was successfully marketed by major department stores across the United States at a price of $220 per ounce.
The men's fragrance, "Tiffany for Men", was launched two years later in 1989 and was developed by perfumer Jacques Polge.
The bottles for both the men's and women's fragrances were designed by Pierre Dinand.
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Iconic Designers and Collections
Tiffany & Co. has had the privilege of collaborating with some of the most talented designers in the industry. One of the most notable is Jean Schlumberger, who joined the company in 1956 as Vice President.
Jean Schlumberger's designs are a masterclass in imaginative and nature-inspired creations. His iconic Bird on a Rock brooch, featuring vibrant gemstones and intricate goldwork, is a timeless classic.
His signature paillonné enamel bangles, crafted using a 19th-century technique, are still worn by collectors today. One of these bangles was famously worn by Jackie Kennedy Onassis.
Paloma Picasso, daughter of Pablo Picasso, has also left her mark on Tiffany & Co. She joined the company in 1979 and launched her iconic Paloma’s Graffiti collection, inspired by New York street art.
Paloma Picasso's designs epitomized the bold glamour of the 1980s, often incorporating vibrant and overlooked gemstones. Her "X" motif became a signature element in her designs.
In 1985, Paloma created a one-of-a-kind necklace for Tiffany & Co., which was sold at Sotheby's in 2015 for $478,000.
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Legendary Legacy Exhibition in Bangkok
The Legendary Legacy Exhibition in Bangkok is a must-visit for anyone interested in Tiffany & Co.'s rich history and design heritage.
Tiffany & Co. has brought its latest exhibition, "Legendary Legacy", to Bangkok, marking the brand's first exhibition in Thailand. The exhibition offers an exploration of Tiffany & Co.'s design heritage through the lens of legendary designer Jean Schlumberger.
The exhibition is set across five rooms, each telling a story of design, creativity, and heritage. Guests are treated to a unique selection of over 50 objects from the Tiffany Archives.
The experience begins with "Guadeloupe: An Island of Inspiration", which offers insight into how Schlumberger drew from the rich natural beauty of the Caribbean Island of Guadeloupe to inform his creative vision.
In "Garden of Imagination", guests will explore Schlumberger's fascination with creatures, plants, and landscapes of the natural world reinterpreted with surreal beauty.
The "Depths of Beauty" follows, featuring creations inspired by Schlumberger's deep passion for the sea. The exhibition then moves into "Wings: Symbols of the Soul", a space dedicated to flight and transformation.
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The exhibition concludes with the 128.54-carat Tiffany Diamond, the cornerstone of Tiffany & Co., which is being exhibited in its fifth and latest setting. The current design draws inspiration from the iconic Bird on a Rock brooch, one of the Tiffany Diamond's previous settings.
"Legendary Legacy" is open to the public at One Bangkok, Tower 4, until September 7.
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