Tiffany & Co. (colloquially known asTiffany's)[1] is an Americanluxury jewelry and specialty design house owned by the French conglomerateLVMH Moët Hennessy Louis Vuitton, and headquartered onFifth Avenue inManhattan.[2][3] Tiffany is known for its luxury goods, particularly itssterling silver anddiamond jewelry.[4] These goods are sold at Tiffany stores, online, and through corporate merchandising. Its name and branding are licensed toCoty for fragrances[5] and to the Franco-Italian companyEssilorLuxottica foreyewear.[6]
Tiffany & Co. was founded in 1837 by the jewelerCharles Lewis Tiffany and became famous in the early 20th century under the artistic direction of his sonLouis Comfort Tiffany. In 2018, net sales totaled US$4.44 billion.[7][8] As of 2023[update], Tiffany operated over 300 stores globally, in many countries including the United States, Japan, and Canada, as well as Europe, Latin America, and the collectiveAsia-Pacific region, and is exploring opportunities in Africa.[1] The company's product line features fine jewelry, sterling silver, watches,porcelain, crystal, stationery,haute couture fragrance and personal accessories, and leather goods.[9]
Tiffany & Co. was founded in 1837 byCharles Lewis Tiffany and John B. Young,[12] in New York City, as a "stationery andfancy goods emporium", with the help of Charles Tiffany's father, who financed the store for only $1,000 with profits from a cotton mill.[13] The store initially sold a wide variety of stationery items and, as of 1837, operated as "Tiffany, Young and Ellis" at 259Broadway inLower Manhattan.[14] The name was shortened to Tiffany & Company in 1853, when Charles Tiffany took control and established the firm's emphasis on jewelry.[15] The company has since opened stores in major cities worldwide. Unlike other stores at the time in the 1830s, Tiffany marked the prices on its goods to prevent any haggling over prices. In addition, though atypical for the time, Tiffany only accepted cash payments and did not allow purchases on credit.[16] Such practices (fixed prices for ready money) had first been introduced in 1750 by Palmer's of London Bridge.[17]
The first Tiffanymail order catalog, known as the "Blue Book", was published in 1845 in the United States (U.S.),[18] and publishing of the catalog continues in the 21st century. In 1862, Tiffany supplied theUnion Army with swords (Model 1840 Cavalry Saber), flags and surgical implements. In 1867, Tiffany was the first U.S. firm to win an award for excellence in silverware at theExposition Universelle in Paris. In 1868, Tiffany was incorporated.[4]
In 1870, the company built a new store building at15 Union Square West, Manhattan, which was designed byJohn Kellum and cost US$500,000. It was described byThe New York Times as a "palace of jewels."[19] Tiffany stayed at this site until 1906.[19]
In 1877, aninsignia that would become theNew York Yankees "NY" logo was struck on a police medal of honor by Tiffany; 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. In 1879, Tiffany purchased one of the world's largest yellow diamonds which became known as theTiffany Diamond. The Tiffany Diamond has only been worn by four people, one of whom wasAudrey Hepburn for the promotion ofBreakfast at Tiffany's.[20] In 1887, Tiffany bought a number of pieces at the auction of part of theFrench Crown Jewels, which attracted publicity and further solidified the Tiffany brand's association with high-quality diamonds.[21] In 1885 the company revised theGreat Seal of the United States.[22]
Known for his innovations in stained glass, Louis Comfort Tiffany also made significant contributions to Art Nouveau jewelry. His work with iridescent glass, opals, and enamel introduced new techniques in jewelry design by blending organic forms with vibrant colors.[23] Tiffany’s use of glass, enamel, and opals became a hallmark of his style, and are credited with growing the company's reputation during this period.[24]
In 1905, the Manhattan flagship store was relocated to the corner of 37th Street and Fifth Avenue, where it would remain for 35 years.[25]
In 1919, the company made a revision to theMedal of Honor on behalf of theUnited States Department of the Navy.[26] This "Tiffany Cross" version was rare because it was awarded only for combat, using the previous design for non-combat awards.[27] In 1942, the Navy established the Tiffany version fornon-combat heroism as well but, in August 1942, the Navy subsequently eliminated the Tiffany Cross and the two-medal system.[28]
The company moved its flagship store to its present-day727 Fifth Avenue building in 1940; the building was designed byCross & Cross.[29] In 1956, legendary designerJean Schlumberger joined Tiffany, andAndy Warhol collaborated with the company to create Tiffany holiday cards (circa 1956–1962).[18][30] Schlumberger's designs, such as the Bird on a Rock brooch, became synonymous with the company's post-war jewelry innovations.[31] In 1968,Lady Bird Johnson, First Lady of the U.S. at the time, commissioned Tiffany to design aWhite House china-service that featured 90 flowers.[32][33]
In November 1978, Tiffany & Co. was sold toAvon Products, Inc for about US$104 million in stock.[34] However, in a 1984Newsweek article, theFifth Avenue Tiffany store was likened to theMacy's department store during awhite sale, due to the high number of inexpensive items on sale;[16] 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. Tiffanywent public again in 1987 and raised about $103.5 million from the sale of 4.5 million shares ofcommon stock.[16]
Due to the1990–1991 recession in the United States, Tiffany emphasizedmass merchandising. A new campaign was launched that advertised how Tiffany could be affordable for all. One such example is that the company advertised the price of diamond engagement rings started at $850, and "How to Buy a Diamond" brochures were sent to 40,000 people, who called a toll-free number specifically set up to target the broader population.[16] However, to maintain its image as aluxury goods company, high-style images remained on display in Tiffany stores.[16]
On September 4, 1994, a jewelry heist occurred at the store in New York City, in which six men stole $1.9 million of jewelry. During the incident, no shots were fired and no vandalism occurred. Two weeks after the robbery, the six men were arrested and the jewelry was recovered.[35]
Tiffany & Co. trademarked their signatureTiffany Blue color in 1998. Three years later they partnered withPantone to standardize the color as "1837 Blue".[36]
The Tiffany & Co. Foundation was established in 2000 to provide grants to nonprofit organizations working in the areas of the environment and the arts.[37] In June 2004, Tiffany suedeBay, claiming that the latter was making profits from the sale of counterfeit Tiffany products;[38] however, Tiffany lost both attrial and on appeal.[39]
Tiffany & Co. established their subsidiary Laurelton Diamonds in 2002 to manage Tiffany's worldwide diamond supply chain.[40]
In 2009, a collaboration between the Japanese mobile-phone operatorSoftBank and Tiffany & Co. was announced. The two companies designed a cellphone, limited to ten copies, and containing more than 400 diamonds, totaling more than 20 carats (4.0 g). Each cellphone cost more than 100 million yen ($672,687).[41]
Also in 2009, the company launched their Tiffany Keys collection.[42]
In early July 2013, former Tiffany & Co. vice president Ingrid Lederhaas-Okun was arrested and charged with stealing and re-selling more than $1.3 million of diamond bracelets, drop earrings, and other jewelry.[43] Lederhaas-Okun plead guilty to theft[44] and was sentenced to one year in federal prison.[45]
In February 2017, the company announced thatCEOFrédéric Cuménal was fired, after only 22 months, blaming weak sales results. He was replaced on aninterim basis by the company's longtime former CEO,Michael Kowalski.[47] Shortly before his departure, Cuménal had appointed formerCoach designerReed Krakoff as the company's new chief artistic officer. Although Krakoff had no previous experience with jewellery design, his previous success with Coach and "deep understanding of iconic American design" led to his appointment, with the hopes that Krakoff would be able to refresh the image of the brand.[48][49]
In April 2017, the company launched their Tiffany HardWear collection.[50]
In July 2017, it was announced thatBulgari veteran Alessandro Bogliolo would be taking over as CEO. Under his leadership, it was hoped that Tiffany & Co. could turn around slumping sales and capture a younger audience.[51]
Tiffany & Co. opened the Blue Box Cafe in New York City in November 2017.[52] Also in November 2017, the company launched their Home & Accessories line.[53]
In March 2018, the company opened the Jewelry Design and Innovation Workshop, a new 17,000-square-footatelier.[52]
In May 2018, Tiffany launched their Paper Flowers Collection, designed by Reed Krakoff.[54]
In September 2018, Tiffany launched their Paper Flowers collection in Asia.[55] That same month, the company debuted a new proprietary engagement ring design called the Tiffany True.[56]
In August 2019, Tiffany launched their first men's jewelry collection in October of the same year.[57] The line was developed by Reed Krakoff.[58]
In October 2019, Tiffany opened a new brand exhibition inShanghai, China called "Vision & Virtuosity".[59]
Tiffany opened its first store inNew Delhi, India on 3 February 2020.[60]
After the start of Russia's full-scale invasion of Ukraine, the brand announced that it was stopping purchasing diamonds from Russia. However, it was later revealed that they continued to purchase through intermediaries, including the UAE.[61]
In November 2019,LVMH announced its purchase of Tiffany & Co for $16.2 billion, $135 per share.[62][63] LVMH cancelled the pending purchase in September 2020, with Tiffany filing a lawsuit asking the court to compel the purchase or to assess damages against LVMH.[64] The same month,Forbes reported that LVMH had cancelled the deal because Tiffany was paying millions in dividends to shareholders despite financial losses during theCOVID-19 pandemic. Some US$70 million had already been paid by Tiffany, with an additional US$70 million to be paid in November 2020.[65] LVMH filed a counterclaim against Tiffany for its mismanagement during the pandemic.[66]
The case was set aside after LVMH agreed to purchase Tiffany at a reduced price of almost $16 billion in October 2020.[67][68] The $15.8 billion deal was approved by shareholders in December 2020.[69] Tiffany was delisted from theNew York Stock Exchange when the deal closed in January 2021.[70][11] After LVMH's acquisition, several of Tiffany's senior leaders were replaced with executives from other sectors of LVMH.[71][72] Alexandre Arnault was given the role of executive vice president.[73]
Since 1940, Tiffany'sflagship store has operated at the corner ofFifth Avenue and57th Street inManhattan, New York City. The polished granite exterior is well known for its window displays, and the store has been the location for a number of films, includingBreakfast at Tiffany's, starringAudrey Hepburn, andSweet Home Alabama, starringReese Witherspoon. Beginning in 2019, the store underwent an extensive renovation, concluding in 2023 and reopening to the public on April 27. The project was designed by American architectPeter Marino.[74]
When it opened in 1990, the Tiffany & Co. store atFairfax Square inTysons Corner, Virginia, became the largest store outside of New York City, with 14,500 sq ft (1,350 m2) of retail space.[76]
In 2004, Tiffany created "Iridesse", a chain of stores dedicated to pearl-only jewelry. The company operated 16 stores inFlorida,New Jersey,New York,Pennsylvania,California,Illinois,Massachusetts, andVirginia. However, the chain operated at a loss since its founding and the company announced in early 2009 that, despite its continued belief in the concept, it would discontinue Iridesse due to theGreat Recession.[82]
As of 2018, Tiffany operated 93 stores in the US and 321 stores worldwide, including (as of 31 January 2017) 55 locations in Japan and 85 in the Asia-Pacific region. Net sales in 2018 totaled US$4.44 billion.[83][8]
In December 2023, Tiffany opened a store in Shanghai Taikoo Li Qiantan,[84] with the facade designed byMVRDV. This opening followed earlier work between the two companies at Singapore'sChangi Airport for which MVRDV created a 3-D printed facade using recycled ocean plastic.[85]
After the initial publication of the "Blue Book" Tiffany catalog in 1845, Tiffany continued to use its catalog as part of its advertisement strategy. The Tiffany catalog, one of the first catalogs printed in full color,[citation needed] remained free until 1972. Tiffany's mail-order catalogs reached 15 million people in 1994. Tiffany also produces a corporate-gift catalog each year. As of 2013 Tiffany still produces a catalog for subscribers, but its advertisement strategy no longer focuses primarily on its catalog.[4]
In addition to the mail-order catalog, Tiffany displays its advertisements in many locations, including at bus stops, in magazines and newspapers, and online.[87] In January 2015, Tiffany launched its first ever same-sex couple campaign.
In 2017, Tiffany partnered with American pop starLady Gaga for an ad campaign promoting the company's HardWear collection.[88] The announcement came as aSuper Bowl ad prior to Lady Gaga'sSuper Bowl LI halftime show performance.[89]
In May 2018, Tiffany partnered withSpotify for the launch of Tiffany's "Believe in Dreams" campaign and Paper Flowers collection, releasing a cover of the song "Moon River" byElle Fanning and rapperA$AP Ferg on the music streaming service.[90]
In 2019, Tiffany partnered with American celebrityKendall Jenner to promote the company's spring fashion line.[91]
In 2021, Tiffany partnered with American singerBeyoncé and rapperJay-Z to promote the company's "About Love" campaign.[92] Beyoncé became the fourth woman, and first Black woman, to wear the Tiffany Yellow Diamond.[93] The campaign incorporated Tiffany's recently acquiredrobin egg blue painting,Equals Pi (1982), by American artistJean-Michel Basquiat.[92]
In 2022, Tiffany partnered withCurtis Kulig while retaining his original "Love Me" concept, Kulig also created other love-themed messages such as: "Dare Me," "Know Me," and "Kiss Me" to be displayed alongside the Tiffany HardWear, Tiffany Knot and Tiffany T collections.[94]
In 2023, actressAnya Taylor-Joy became the face of Tiffany's fine jewelry campaign. She features prominently in the 2023 Blue Book collection.[95]
George Frederick Kunz (1856–1932), a Tiffanygemologist, became instrumental in the international adoption of the metriccarat as a weight standard for gems. The Tiffany Yellow Diamond (128.54 carats (25.708 g)) is usually on display in the New York City flagship store.[100]
In 1886, founder Charles Tiffany conceived of the Tiffany Setting ring design, in which six prongs hold the diamond off of the band, in order to better accentuate the diamond.[101]
Like other similar diamond retailers, Tiffany enacts a strict policy against the repurchasing of diamonds sold from its stores. In 1978, a woman in New York City was denied after she attempted to sell back a diamond ring she had bought from Tiffany two years earlier for $100,000.[102]
In 2019, Tiffany CEO Alessandro Bogliolo announced that in 2020 the company would become transparent regarding the country or region of origin of the company's newly sourced and individually registered diamonds.[103]
Tiffany offers jewelry incorporating a wide variety of colored gemstones, including gems it played a role in popularizing, such astsavorite,[104]kunzite, andmorganite. In February 2015 aturquoise andaquamarine bib designed by Francesca Amfitheatrof, Tiffany's design director, and worn byCate Blanchett at the2015 Academy Awards, contrasted favorably with the white–diamond encrusted jewelry worn by other stars, according to Guy Trebay of theNew York Times.[105] In 2025, Tiffany & Co. announced the acquisition of a 7,500-carat rough kunzite gemstone, intended as the centerpiece of a special capsule collection celebrating the 60th anniversary of its iconic Bird on a Rock brooch design. The gemstone, notable for its size—approximately that of a paperback book—clarity, and vivid purplish-pink color, was originally discovered in Mozambique over 25 years ago and purchased earlier that year from a gemstone dealer in Bangkok.[106]
Original 1989 sample bottle of "Tiffany for Men" fragrance
In the late 1980s, Tiffany & Co. ventured into the fragrance business. "Tiffany" for women was launched in 1987, a floral perfume for women by perfumerFrançois Demachy. At $220 per ounce, "Tiffany" was marketed by major department stores across the United States.[107] Two years later, "Tiffany for Men" was launched in 1989 and developed by perfumerJacques Polge. The bottles for both the men's and women's fragrance were designed by Pierre Dinand.[108] In 1995, Tiffany launched "Trueste" perfume for women, which was later discontinued.[citation needed]
In October 2019, Tiffany launched a new fragrance line, Tiffany & Love.[109]
In 2021, Tiffany & Co. joined theLCK sponsorship team after noticing the league's rapid growth. Tiffany & Co. would award championship rings to the winners of theLCK finals for the next three years beginning with the Summer Split of 2021.[115] InLPL, a trophy was designed by Tiffany and Co. for the new Silver Dragon Cup to commemorateLoL's tenth anniversary in China.[116]
From the2022 League of Legends World Championship onwards, Tiffany & Co. are the official makers of the newly redesigned Summoner's Cup, which was first awarded toDRX after their 3-2 victory overT1.
Since 2023, Tiffany & Co. has manufactured theNBA Cup and Cup MVP trophies, awarded to the winning team and most valuable player of the NBA's annual In-Season Tournament.[117]
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^"History of the Medal of Honor".Navy Medal of Honor (1913). Congressional Medal of Honor Society.Archived from the original on August 28, 2011. RetrievedJuly 23, 2010.
^Kent, Sarah; Guilbault, Laure (November 25, 2019)."LVMH Buys Tiffany in $16 Billion Deal".www.businessoffashion.com.Archived from the original on November 2, 2020. RetrievedNovember 25, 2019.
^"LVMH Acquires Tiffany & Co. For $16.2 Billion".Forbes. November 26, 2019.Archived from the original on August 3, 2020. RetrievedNovember 30, 2019.LVMH will "develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons. We will be proud to have Tiffany sit alongside our iconic brands and look forward to ensuring that Tiffany continues to thrive for centuries to come"
^"Tiffany & Co.TIF". Reuters. November 29, 2019. Archived fromthe original on November 6, 2019. RetrievedNovember 30, 2019.the Company's segments include Americas, Asia-Pacific, Japan, Europe and Other
^Guy Trebay (April 14, 2015)."At Tiffany, Something New Inside the Blue Box".The New York Times.Archived from the original on April 16, 2015. RetrievedApril 16, 2015.[...] the scene-stealing bib had the commercially desirable effect of making the million-dollar gems on other entertainers look like so much borrowed ice.
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US$4.42 billion (2020)
US$6.66 billion (2020)
