Tiffany & Co. facts for kids

Kids Encyclopedia Facts

Tiffany & Co.

Tiffany's flagship store on Fifth Avenue in 2022
Formerly	Tiffany, Young and Ellis (1837–1853)
Type	Subsidiary
Industry	Retail
Founded	September 18, 1837 (187 years ago) (1837-09-18) in Brooklyn, Connecticut, U.S.
Founders	Charles Lewis Tiffany John B. Young
Headquarters	200 Fifth Avenue New York, NY 10010 U.S.
Number of locations	326 stores (2020)
Area served	Worldwide
Key people	Anthony Ledru (CEO) Alexandre Arnault (EVP) Michael Burke (Chairman)
Products	Jewelry porcelain crystal stationery fragrances watches accessories leather goods
Revenue	US$4.44 billion (FY Jan. 31, 2019)
Operating income	$790.3 million (FY Jan. 31, 2019)
Net income	$586.4 million (FY Jan. 31, 2019)
Total assets	$5.33 billion (FY Jan. 31, 2019)
Total equity	$3.12 billion (FY Jan. 31, 2019)
Number of employees	14,200 (2019)
Parent	LVMH

Tiffany & Co. is a famous American company. It sells luxury jewelry and special designs. Its main office is on Fifth Avenue in Manhattan, New York City. Tiffany is well-known for its fancy items, especially its sterling silver and diamond jewelry. You can buy these items in Tiffany stores, online, and through other sales. The company also licenses its name for perfumes and eyeglasses.

Charles Lewis Tiffany founded Tiffany & Co. in 1837. It became very famous in the early 1900s. This was thanks to his son, Louis Comfort Tiffany, who was the art director. In 2018, the company made $4.44 billion in sales. As of 2023, Tiffany had over 300 stores around the world. These stores are in the United States, Japan, Canada, Europe, Latin America, and Asia-Pacific. The company also looks for chances to open stores in Africa. Tiffany sells fine jewelry, sterling silver, watches, porcelain, crystal, paper goods, perfumes, and leather items.

On January 7, 2021, a big company called LVMH Moët Hennessy Louis Vuitton bought most of Tiffany & Co. for $15.8 billion. Tiffany's stock was then removed from the New York Stock Exchange. It still has its main office in New York City. It now works as an independent part of LVMH.

History of Tiffany & Co.
Tiffany Stores Around the World
How Tiffany Advertises
Tiffany Products
Tiffany and Sports Awards
Helping Others: Philanthropy
Being a Responsible Company
Images for kids
See also

History of Tiffany & Co.

How Tiffany Started

Tiffany & Company, Union Square, Manhattan, storage area with porcelain, c. 1887

Tiffany & Co. began in 1837 in New York City. It was started by Charles Lewis Tiffany and John B. Young. It was first a "stationery and fancy goods emporium." Charles Tiffany's father helped by giving $1,000 from his cotton mill. The store first sold many kinds of paper items. In 1837, it was called "Tiffany, Young and Ellis." It was located at 259 Broadway in Lower Manhattan.

The name became Tiffany & Company in 1853. This happened when Charles Tiffany took charge. He decided the company would focus on jewelry. Since then, Tiffany has opened stores in big cities worldwide. Unlike other stores in the 1830s, Tiffany clearly showed prices. This meant customers could not argue about prices. Also, Tiffany only took cash payments. They did not allow people to buy things on credit.

The "Blue Book" and the Civil War Era

The first Tiffany mail order catalog was called the "Blue Book." It was printed in 1845 in the United States. Tiffany still publishes this catalog today. In 1862, Tiffany helped the Union Army during the American Civil War. They supplied swords, flags, and tools for surgery.

In 1867, Tiffany was the first U.S. company to win an award. They won for excellent silverware at the Exposition Universelle in Paris. In 1868, Tiffany became an official corporation.

The "Gilded Age" of Growth

In 1870, the company built a new store. It was at 15 Union Square West, Manhattan. The building cost $500,000. The New York Times called it a "palace of jewels." Tiffany stayed at this location until 1906.

In 1877, Tiffany made a police medal of honor. This medal had an insignia that became the New York Yankees "NY" logo. The Yankees started using this logo in 1909. In 1878, Tiffany won a gold medal for jewelry. They also won a grand prize for silverware at the Paris Exposition.

In 1879, Tiffany bought one of the world's largest yellow diamonds. It became known as the Tiffany Diamond. Only four people have ever worn this diamond. One was Audrey Hepburn for the movie Breakfast at Tiffany's. In 1887, Tiffany bought many pieces from the French Crown Jewels auction. This brought a lot of attention. It made Tiffany known for high-quality diamonds. The company also updated the Great Seal of the United States in 1885.

Tiffany in the 20th Century

"Tiffany Cross" version of the Medal of Honor

In 1902, Charles Lewis Tiffany passed away. His son, Louis Comfort Tiffany, became the company's first official design director. In 1905, the main store in Manhattan moved. It went to the corner of 37th Street and Fifth Avenue. It stayed there for 35 years.

In 1919, the company updated the Medal of Honor. This was for the United States Department of the Navy. This special "Tiffany Cross" was rare. It was only given for brave actions in battle. Later, the Navy stopped using the Tiffany Cross.

The company moved its main store again in 1940. It is now at the 727 Fifth Avenue building. This building was designed by Cross & Cross. In 1956, famous designer Jean Schlumberger joined Tiffany. Andy Warhol also worked with Tiffany. He helped create Tiffany holiday cards from 1956 to 1962. In 1968, Lady Bird Johnson, the First Lady, asked Tiffany to design a White House china set. It featured 90 different flowers.

In November 1978, Tiffany & Co. was sold to Avon Products, Inc. The sale was for about $104 million. In August 1984, Avon sold Tiffany to a group of investors. William R. Chaney led this group. The price was $135.5 million in cash. Tiffany became a public company again in 1987. They raised about $103.5 million by selling shares.

In the early 1990s, Tiffany started to focus on selling to more people. They launched a campaign to show that Tiffany could be affordable. For example, they advertised diamond engagement rings starting at $850. They sent "How to Buy a Diamond" brochures to 40,000 people. This helped them reach a wider audience. However, Tiffany still kept its image as a luxury brand.

Tiffany & Co. officially protected its special Tiffany Blue color in 1998. Three years later, they worked with Pantone. They made the color standard as "1837 Blue."

Tiffany in the 2000s and Beyond

Tiffany & Co. blue gift boxes

The Tiffany & Co. Foundation started in 2000. It gives money to groups that help the environment and arts. In 2002, Tiffany & Co. created Laurelton Diamonds. This company helps manage Tiffany's diamond supply around the world.

In 2009, Tiffany & Co. worked with SoftBank, a Japanese phone company. They designed a special cellphone. Only ten were made. Each phone had over 400 diamonds, weighing more than 20 carats. Each phone cost over 100 million yen (about £781,824). Also in 2009, the company launched its Tiffany Keys collection.

In 2014, the Tiffany T collection came out. It was designed by Francesca Amfitheatrof. In February 2017, Frederic Cumenal left his job as CEO. This was due to slow sales. Michael Kowalski, a former CEO, took over temporarily. Reed Krakoff became the new chief artistic officer. He aimed to make the brand feel fresh and new.

In April 2017, Tiffany launched its HardWear collection. In July 2017, Alessandro Bogliolo became the new CEO. He hoped to boost sales and attract younger customers. Tiffany & Co. opened the Blue Box Cafe in New York City in November 2017. They also launched their Home & Accessories line that month.

In March 2018, the company opened a new workshop. It is a 17,000-square-foot space for jewelry design. In May 2018, Tiffany launched its Paper Flowers Collection. Reed Krakoff designed it. In September 2018, this collection launched in Asia. That same month, Tiffany introduced a new engagement ring design. It was called the Tiffany True.

In August 2019, Tiffany launched its first jewelry collection for men. Reed Krakoff developed this line. In October 2019, Tiffany opened a new exhibition in Shanghai, China. It was called "Vision & Virtuosity." Tiffany opened its first store in New Delhi, India, on February 3, 2020. Tiffany has also committed to sourcing diamonds responsibly. They stopped buying diamonds from Russia directly after the conflict in Ukraine began.

Tiffany Joins LVMH

In November 2019, LVMH announced it would buy Tiffany & Co. for $16.2 billion. The deal was expected to finish by June 2020. In late October 2020, LVMH agreed to buy Tiffany & Co. for a slightly lower price. The new price was almost $16 billion. The deal closed on January 7, 2021. Tiffany's stock was then removed from the New York Stock Exchange. After LVMH bought Tiffany, some of Tiffany's top leaders were replaced. Alexandre Arnault, the son of LVMH's CEO, became an executive vice president.

LVMH plans to make Tiffany & Co. bigger in Europe and China. Asia-Pacific is a big market for luxury goods. Tiffany aims to grow more in this region.

Tiffany Stores Around the World

Tiffany's flagship store, interior

Tiffany & Co. at Phipps Plaza in Atlanta, Georgia

Since 1940, Tiffany's main store has been in New York City. It is at the corner of Fifth Avenue and 57th Street in Manhattan. The outside of the store is made of polished granite. It is famous for its beautiful window displays. The store has been in movies like Breakfast at Tiffany's and Sweet Home Alabama. Starting in 2019, the store went through a big renovation. It reopened on April 27, 2023. The American architect Peter Marino designed the project.

The old Tiffany and Company Building on 37th Street is a historic place in the U.S. When it opened in 1990, the Tiffany & Co. store in Tysons Corner, Virginia, was the largest outside New York City. It had 14,500 square feet of shopping space.

In France, Tiffany stores are in Rue de la Paix and the Avenue des Champs Elysées in Paris. The Champs Elysées store is the largest in Europe. In Australia, Tiffany's main store is on Collins Street in Melbourne. It opened in 1996. Tiffany has since opened eight more stores in Australia. These are in Melbourne, Sydney, Brisbane, Perth, Adelaide, and the Gold Coast.

On March 8, 2001, Tiffany opened its first store in Latin America. It was in São Paulo, Brazil. A second store opened in São Paulo on October 20, 2003. As of 2018, Tiffany had 93 stores in the U.S. and 321 stores worldwide. This included 55 stores in Japan and 85 in Asia-Pacific. Total sales in 2018 were $4.44 billion.

In December 2023, Tiffany opened a store in Shanghai Taikoo Li Qiantan. In April 2024, Tiffany & Co. opened its newest store at QueensPlaza in Brisbane.

How Tiffany Advertises

Tiffany & Co. at Central, Hong Kong

After the "Blue Book" catalog came out in 1845, Tiffany kept using catalogs to advertise. The Tiffany catalog was one of the first to be printed in full color. It was free until 1972. In 1994, Tiffany's mail-order catalogs reached 15 million people. Tiffany also makes a catalog for corporate gifts each year. Companies buy Tiffany products for business gifts and employee awards. As of 2013, Tiffany still makes a catalog for people who subscribe. However, its advertising is no longer mainly focused on the catalog.

Tiffany also advertises in many other places. These include bus stops, magazines, newspapers, and online. With new technology, Tiffany put ads in the New York Times' mobile app for the iPhone. Users could download the Tiffany app from there. In January 2015, Tiffany launched its first ad campaign featuring same-sex couples.

In 2017, Tiffany worked with pop star Lady Gaga for an ad campaign. It promoted the company's HardWear collection. The ad was shown during the Super Bowl before Lady Gaga's halftime show. In May 2018, Tiffany worked with Spotify. This was for the "Believe in Dreams" campaign and Paper Flowers collection. They released a cover of "Moon River" by Elle Fanning and rapper A$AP Ferg.

In 2019, Tiffany partnered with celebrity Kendall Jenner. She helped promote the company's spring fashion line. In 2021, Tiffany worked with American singer Beyoncé and rapper Jay-Z. This was for the "About Love" campaign. Beyoncé became the fourth woman, and first Black woman, to wear the Tiffany Yellow Diamond. The campaign also used Tiffany's recently bought painting, Equals Pi (1982), by Jean-Michel Basquiat.

In 2022, Tiffany worked with Curtis Kulig. He created love-themed messages like "Dare Me," "Know Me," and "Kiss Me." These were shown with the Tiffany HardWear, Tiffany Knot, and Tiffany T collections.

Tiffany Products

Diamonds

The Tiffany Yellow Diamond

Tiffany is famous for its luxury items. This includes its diamond and sterling silver jewelry. George Frederick Kunz, a Tiffany gemologist, helped make the metric carat a standard for weighing gems worldwide. The Tiffany Yellow Diamond (128.54 carats) is usually on display at the New York City main store.

In 1886, founder Charles Tiffany created the Tiffany Setting ring design. In this design, six prongs hold the diamond above the band. This makes the diamond stand out more. Tiffany has a strict rule about buying back diamonds. They do not repurchase diamonds sold from their stores.

In 2019, Tiffany CEO Alessandro Bogliolo announced a new plan. Starting in 2020, the company would be open about where its new diamonds come from. They would share the country or region of origin for each individually registered diamond.

Colored Gemstones

Tiffany also sells jewelry with many different colored gemstones. They helped make some gems popular, like tsavorite, kunzite, and morganite. In February 2015, Cate Blanchett wore a turquoise and aquamarine necklace by Tiffany. She wore it to the 2015 Academy Awards. It looked great compared to the white-diamond jewelry worn by other stars.

Fragrances

Original 1989 sample bottle of "Tiffany for Men" fragrance

In the late 1980s, Tiffany & Co. started making perfumes. "Tiffany" for women came out in 1987. It was a floral perfume by François Demachy. It cost $220 per ounce. Major department stores across the U.S. sold it well. Two years later, "Tiffany for Men" was launched in 1989. Jacques Polge developed it. Pierre Dinand designed the bottles for both men's and women's perfumes. In 1995, Tiffany launched "Trueste" perfume for women, but it was later stopped.

In October 2019, Tiffany launched a new perfume line called Tiffany & Love.

Tiffany and Sports Awards

Tiffany & Co. makes many famous sports trophies. They create the Vince Lombardi Trophy for the winner of the NFL Super Bowl. Since 1977, Tiffany & Co. has made the Larry O'Brien Championship Trophy. This trophy goes to the winner of the NBA Finals.

Tiffany also makes and designed the World Baseball Classic Trophy. They make the Commissioner's Trophy each year. This is given to the winner of the World Series. Tiffany & Co. made the 2010 and 2012 World Series rings for the San Francisco Giants.

Since 1987, Tiffany silversmiths have made the US Open trophies for the United States Tennis Association. Tiffany & Co. makes the PGA Tour FedEx Cup Trophy every year since 2007. The MLS championship trophy was also made by Tiffany & Co. A £10,000 Rugby League World Cup trophy was made by Tiffany's. This was to celebrate 100 years of Rugby league.

In 2021, Tiffany & Co. joined the LCK as a sponsor. They noticed the league was growing fast. Tiffany & Co. would give championship rings to the winners of the LCK finals for three years. This started with the Summer Split of 2021. In LPL, Tiffany and Co. designed a trophy. It was for the new Silver Dragon Cup. This celebrated 10 years of LoL in China.

From the 2022 League of Legends World Championship onwards, Tiffany & Co. officially makes the new Summoner's Cup. This cup was first given to DRX after they won against T1.

Helping Others: Philanthropy

In 2000, The Tiffany & Co. Foundation gave its first grant. It was to help protect coral and marine life. So far, the foundation has given over $20 million to help save coral and oceans.

In 2008, The Tiffany & Co. Foundation gave $2 million to the University of Pennsylvania. This was to build an HIV/AIDS treatment center in Botswana. In 2010, Tiffany gave $1 million to the Trust for Public Land. This money helped their effort to save Cahuenga Peak.

Tiffany launched its Save the Wild Collection in 2017. This line helps protect endangered animals. Save the Wild was part of the #KnotOnMyPlanet campaign. In 2018, Tiffany promised about $1.4 million to Australia. This money helps protect and save the Great Barrier Reef.

Being a Responsible Company

Tiffany has bought gold that is mined ethically since 1992. The company also follows the Kimberley certification process when getting diamonds. This helps ensure diamonds are not from conflict zones.

Tiffany stopped selling coral jewelry in 2004. This was because ocean health was declining. In 2005, Tiffany joined Earthwork's No Dirty Gold campaign. They were the first jewelry company to follow Earthwork's Golden Rules for responsible mining.

In 2006, Tiffany & Co. joined Microsoft and others to start the Initiative for Responsible Mining Assurance (IRMA). In 2011, Tiffany joined the United Nations Global Compact. This helps companies work towards global goals for sustainability and human rights.

In 2015, Anisa Costa became Tiffany's first Chief Sustainability Officer. That same year, Tiffany promised to have zero greenhouse gas emissions by 2050. The company also supported the U.S. staying in the Paris Agreement.

Images for kids

Silver tea pot
White House china service for Lady Bird Johnson
Tea set, c. 1877, held at the Birmingham Museum of Art
Carved frog for display at the Exposition Universelle (1900) in Paris
Diamond necklace, c. 1904
Hooker Emerald Brooch, commissioned by Tiffany in 1950
Tray or Waiter, displayed at World's Columbian Exposition, 1893, Brooklyn Museum