Tiffany & Co.


Tiffany & Co.
"Tiffany's" redirects here. For other uses see Tiffany
Tiffany and Co.
Type Public (NYSE: TIF)
Industry Jewelers and silversmiths
Founded New York City, New York (September 18, 1837)
Headquarters New York City, New York US
Key people Michael J. Kowalski, Chairman & CEO
James E. Quinn, President
Charles Lewis Tiffany, Founder
John B. Young, Founder
Products Diamonds
Jewelry
Tableware
Gifts and Accessories
Silver items
Revenue increase US$2.86 Billion (FY 2009)[1]
Operating income increase US$375 Million (FY 2009)[1]
Net income increase US$220 Million (FY 2009)[1]
Total assets increase US$3.10 Billion (FY 2009) [2]
Total equity decrease US$1.59 Billion (FY 2009)[2]
Employees 9,000 (January 31, 2009) [3]
Website tiffany.com

Tiffany & Co. (NYSETIF) is an American jewelry and silverware company. As part of its branding, the company is strongly associated with its Tiffany Blue     , which is a registered trademark.

Contents

History

Tiffany & Co., Union Square, storage area with porcelain (about 1887)

Founded by Charles Lewis Tiffany and Teddy Young in New York City 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 & Co. in 1853 when Charles Tiffany took control, and the firm's emphasis on jewelry was established.[4] Tiffany & Co. has since opened stores in major cities all over the world.

Each year Tiffany & Co. creates a new Vince Lombardi Trophy, the award given to the NFL team that wins the Super Bowl that year.[5]

Tiffany & Co. also made the 2010 World Series Rings for the San Francisco Giants. [6]

"Tiffany Cross" version of the Medal of Honor

The first Tiffany catalog, known as the "Blue Book", was published in 1845. It is still being published today. In 1862 Tiffany & Co. 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 1877, an insignia that would become the famous New York Yankees "NY" logo was struck on a medal of honor by Tiffany & Co. and issued to the first NYC police officer shot in the line of duty. The Yankees adopted the logo in 1909. The company revised the Great Seal of the United States in 1885. In 1919, the company made a revision to the Medal of Honor on behalf of the United States Department of the Navy.[7] This "Tiffany Cross" version was rare because it was awarded only for combat, using the previous design for non-combat awards.[8] In 1942 the Navy established the Tiffany version for non-combat heroism, but it proved unpopular, perhaps due to its resemblance to the German Iron Cross. In August 1942 the Navy eliminated the Tiffany Cross and the two-medal system.[9] In 1968, US First Lady Lady Bird Johnson commissioned Tiffany to design a White House china service, which featured 90 flowers.[10][11] In June 2004, the jeweler Tiffany & Co. sued eBay, claiming that eBay profits from the sale of counterfeit Tiffany products.[12] Tiffany lost at trial and on appeal.[13] See Tiffany v. eBay for more details. On January 28, 2008, it was announced that the Japanese mobile phone operator SoftBank and Tiffany & Co. had collaborated in making a limited 10 model-only cellphone. This cellphone contains more than 400 diamonds, totaling more than 20 carats (4.0 g). The cost is said to be more than 100,000,000 yen (£ 781,824).[14]

Current designers and collections

  • Frank Gehry's collections include Axis, Equus, Fish, Flux, Orchid, Torque, and Tube.
  • Elsa Peretti's collections include Bean, Diamonds by the Yard, Open Heart, Sevillana, and Teardrop.
  • Paloma Picasso's collections include Loving Heart and Sugar Stacks.
  • Jean Schlumberger
  • Richard Lambertson and John Truex designed the upcoming Handbag collection that was announced on August 26, 2010.[15]

Stores

Tiffany and Co.'s flagship store

Tiffany's flagship store, since 1940, is located at the corner of Fifth Avenue and 57th Street in Manhattan, New York City. The polished granite exterior is well known for its tiny window displays. The store has been the location for a number of films including Breakfast at Tiffany's, starring Audrey Hepburn, and Sweet Home Alabama, starring Reese Witherspoon. The former Tiffany and Company Building on 38th Street is on the U.S. National Register of Historic Places.

Other locations

As of January 31, 2007, the Company operated 64 Tiffany & Co. stores in the US, which totaled approximately 486,000 gross square feet, and 103 Tiffany & Co. international stores, which totaled approximately 306,000 gross square feet.[16]

When it opened in 1990, the Tiffany & Co. store at Fairfax Square in Tysons Corner, VA became the largest outside of New York with 14,500 sq ft (1,350 m2) of retail space.[17]

Tiffany & Co. reported in 2006 that its location at South Coast Plaza in Costa Mesa, CA was its most profitable location followed by its New York City flagship, Boston Copley Place, and Ala Moana Shopping Center in Honolulu.

Tiffany & Co. has announced its second store opening in Kuala Lumpur, Malaysia at Pavilion Kuala Lumpur on September 2007, coinciding with the shopping mall opening. The store has 1,700 sq ft (160 m2). retail space and features the same decor elements as its New York flagship. Recently opened stores in the United States include one at The Natick Collection in Natick, MA which opened in September 2007, Mohegan Sun casino in Connecticut, and at the Providence Place mall in Providence, R.I., both opened in November 2007. There is a Tiffany store in Columbus, OH at the Easton Mall. There is a Tiffany store in Terminal 5 at London's Heathrow airport, which opened at the end of March 2008 and a store in the Westfield London shopping centre in Shepherd's Bush.

Tiffany & Co. opened its flagship Irish store, a concession in Brown Thomas on Dublin's Grafton Street in October 2008. It is the biggest of the group's European outlets. In October 2008, Tiffany's opened a store in Madrid, Spain, and brought the Tiffany Diamond to the opening.

In Australia, Tiffany & Co. have a flagship store located on Collins Street in Melbourne. Other stores include Melbourne - (Chadstone Shopping Centre), Sydney (Castlereagh Street, DFS Galleria - George Street), Surfers Paradise (DFS Galleria - Cavill Avenue), Brisbane (Queens Plaza) and Perth (King Street).

On March 8, 2001, Tiffany's launched the first Latin American store in São Paulo, Brazil, located in the Iguatemi São Paulo shopping center.[18] The company opened a second store in the city on October 20, 2003,[19] near the famous Oscar Freire Street.

In January 2010, Tiffany's opened their first store in Bogotá, Colombia in Hayuelos Shopping Mall.

Iridesse

Tiffany Yellow Diamond

In 2004, Tiffany & Co. created another chain of stores, Iridesse, dedicated to pearl-only jewelry. The company operated 16 stores in Florida, New Jersey, New York, Pennsylvania, California, Illinois, Massachusetts, and Virginia. The chain operated at a loss since its founding, and the company announced in early 2009 that it would discontinue Iridesse due to the economic climate of the time, despite reportedly still believing in the concept.[20]

Diamonds

Tiffany designs were worn by such famous US families as the Astors, the Vanderbilts, Posts, Huttons and the Morgans. Athletes, Hollywood stars, and even European royalty adored these diamonds. Museums valued the Tiffany designs, which ranged from the Art Nouveau period to Art Deco to today's modern styles.[citation needed]

A Tiffany’s gemologist, George Frederick Kunz, was instrumental in the international adoption of the metric carat as a weight standard for gems, and the Tiffany standard for sterling and platinum have been adopted as United States Standards.

The 128.54 carats (25.71 g) Fancy Yellow Tiffany Diamond is usually on display in the New York City flagship store.

Fragrances

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 perfumer Francois Demachy. At $220 per ounce, "Tiffany" was successfully marketed by major department stores across the United States.[21] Two years letter Tiffany for Men was launched in 1989 and developed by perfumer Jacques Polge. The bottle for both the men's and women's fragrance was designed by Pierre Dinand. In 1995, Tiffany launched Trueste perfume for women which was later discontinued. Tiffany continues to produce the core fragrance product for men and the product for women.

In popular culture

Marilyn Monroe performing "Diamonds Are a Girl's Best Friend", in which Tiffany is mentioned twice (1953)
Hooker Emerald Brooch commissioned by Tiffany in 1950
  • In the 1948 movie Ladies of the Chorus, Tiffany's is mentioned in the song "Every Baby Needs a Da-Da-Daddy", which is sung by Marilyn Monroe.
  • In the 1953 movie Gentlemen Prefer Blondes, Marilyn Monroe sings the song "Diamonds Are A Girl's Best Friend", which mentions Tiffany's twice.
  • Eartha Kitt's classic Christmas song "Santa Baby" mentions purchasing decorations at Tiffany's.
  • In the 1956 James Bond novel, Diamonds Are Forever, one of Bond's love interests is named Tiffany Case. In the 1971 film of the same name, the character explains that she is named after Tiffany & Co. (and has the distinction of being the first American Bond girl).
  • In Truman Capote's 1958 novella Breakfast at Tiffany's the title of which is a reference to the store, one of the protagonists, Holly Golightly, constantly refers to the store as "the best place in the world, where nothing bad can take place." The iconic 1961 film of the same name was based on Capote's novella.
  • In the 1958 movie "Auntie Mame" during the scene where the main characters learn that all of their investments are worthless due to the October 1929 stock market crash, Vera Charles states "And everyone said I was such a fool, spending all my money at Tiffany's!"
  • In The New York Times best-selling series, The Clique, the ninth novel is called Bratfest at Tiffany's, a play on the movie and novella mentioned above, as well as the company itself. The main characters wear Tiffany & Co. bracelets in the book.
  • In the TV series Ugly Betty one of the main characters Daniel Meade is shown to have been shopping for Tiffany jewelry for various women.
  • In the popular TV series Gossip Girl one of the main characters Blair Waldorf is a fan of Audrey Hepburn movies and Blair has a dream which is a reference to Breakfast at Tiffany's in the episode "Bad News Blair". In the episode "Seventeen Candles" Chuck gives Blair a diamond necklace for her birthday. Because of Blair's love of Audrey Hepburn, there is a misconception that the diamond necklace is from Tiffany's. However, in the show Blair mentioned that the necklace was from Erickson Beamon.
  • In the movie Legally Blonde and its sequel, the protagonist Elle Woods wears a heart necklace from Tiffany's. In The Search for Elle Woods, for Legally Blonde: The Musical, the "Elles" were each presented with a replica necklace.
  • Summer at Tiffany, a 2007 memoir by Marjorie Hart, details her experiences as one of the first two female floor employees at Tiffany during the summer of 1945. The book is full of Hart's brushes with celebrities of the era, and other late WWII events in New York City.
  • During the second season finale of Glee, "New York", Rachel and Kurt are seen having breakfast in front of Tiffany & Co.
  • In 2011 the Irish author Melissa Hill released a book called "Something from Tiffany's", in which two characters buy gifts for their respective girlfriends from the New York branch.

Gallery

See also

Notes

  1. ^ a b c Tiffany & Co (TIF) annual SEC income statement filing via Wikinvest
  2. ^ a b Tiffany & Co (TIF) annual SEC balance sheet filing via Wikinvest
  3. ^ http://www.shareholder.com/visitors/dynamicdoc/document.cfm?documentid=2545&companyid=TIF&Pin=&Zoom=1x&page=23
  4. ^ Tiffany's 1891
  5. ^ http://wiki.answers.com/Q/What_company_makes_the_trophy_for_the_Super_Bowl
  6. ^ http://sports.espn.go.com/mlb/news/story?id=6318744
  7. ^ Birnie, Michael (2003-04-27). ""Tiffany" Medal of Honor Comes to Navy Museum". U.S. Navy Museum. United States Navy. http://www.news.navy.mil/search/display.asp?story_id=7048. Retrieved 2010-02-15. 
  8. ^ Tillman, Barrett (2003). Above and Beyond: The Aviation Medals of Honor. Washington, D.C.: Smithsonian Institution Press. pp. 3. 
  9. ^ "History of the Medal of Honor". Navy Medal of Honor (1913). Congressional Medal of Honor Society. http://www.cmohs.org/medal-history.php. Retrieved 2010-07-23. 
  10. ^ "Presidential China". The White House. http://www.whitehouse.gov/history/whtour/china/johnson.html. Retrieved 2008-12-07. 
  11. ^ "Party Politics" Entertaining at the White House" (PDF). National First Ladies Library. http://www.firstladies.org/documents/PartyPoliticsbrochure-webcompress.pdf. Retrieved 2008-12-07. 
  12. ^ "Tiffany sues eBay, says fake items sold on Web site". USA Today. March 22, 2004. http://www.usatoday.com/tech/news/2004-06-22-tiffany-ebay_x.htm. 
  13. ^ "Tiffany, Inc. v. eBay". April 1, 2010. http://www.ca2.uscourts.gov/decisions/isysquery/65a5a693-7086-4d06-a0d2-13e6c9981866/2/doc/08-3947-cv_opn.pdf. 
  14. ^ "上戸彩:超高価ケータイ「ないしょにしてね」" (in Japanese). Sports Nippon. Archived from the original on 2008-01-30. http://web.archive.org/web/20080130125848/http://mainichi.jp/enta/geinou/news/20080129spn00m200016000c.html. Retrieved 2008-01-29. 
  15. ^ "Tiffany & Co. For The Press - About Tiffany & Co. - Richard Lambertson and John Truex". Tiffany & Co.. http://press.tiffany.com/About/Designers/LambertsonTruex.aspx. Retrieved 26 August 2010. 
  16. ^ Tiffany & Co. - Company Profile
  17. ^ Potts, M. (1989) "The Swanky Side of Fairfax Square" Washington Post
  18. ^ "Tiffany abre em SP primeira filial na América Latina" (in Portuguese). Estadão. http://www.estadao.com.br/arquivo/arteelazer/2001/not20010509p4667.htm. Retrieved 2010-07-26. 
  19. ^ "Quem entra na Tiffany acaba se apaixonando" (in Portuguese). Terra. http://www.terra.com.br/istoegente/222/entrevista/index.htm. Retrieved 2010-07-26. 
  20. ^ Tiffany & Co. Shuttering Iridesse Pearl Jewelry Chain
  21. ^ Tiffany & Co. Company History - Funding Universe

References

  • Bezdek, Richard H. American Swords and Sword Makers. Boulder, Colorado: Paladin Press, 1999.
  • Bizot, Chantal, Marie-Noël de Gary, and Évelyne Possémé. The Jewels of Jean Schlumberger. New York: Harry N. Abrams, Publisher, 2001. (English translation)
  • Carpenter, Charles and Janet Zapata. The Silver of Tiffany & Co., 1850–1987. Boston: Museum of Fine Arts, 1987.
  • Dietz, Ulysses Grant, Jenna Weissman Joselit, and Kevin J. Smead. The Glitter and the Gold: Fashioning America’s Jewelry. Newark: The National Endowment for the Humanities, 1997.
  • Duncan, Alastair, Martin Eidelberg, and Neil Harris. Masterworks of Louis Comfort Tiffany. New York: Harry N. Abrams, Inc., Publishers, 1989. Catalogue for an exhibition at the Renwick Gallery, Washington, D.C., from September 29, 1989 – March 4, 1990 and at the National Academy of Design, New York, from March 27 – July 8, 1990.
  • Fashion Institute of Technology. Elsa Peretti: Fifteen of My Fifty with Tiffany. New York: Fashion Institute of Technology, 1990. Exhibition catalogue, April 24 – May 10, 1990.
  • Frelinghuysen, Alice Cooney. Louis Comfort Tiffany and Laurelton Hall. New Haven, Connecticut: Yale University Press, 2006.
  • Green, Annette and Linda Dyett. Secrets of Aromatic Jewelry. Paris: Flammarion, 1998.
  • Hood, William P., with Roslyn Berlin and Edward Wawrynek. Tiffany Silver Flatware 1845–1905: When Dining was an Art. Suffolk, England: Antique Collectors Club, 1999.
  • Loring, John. Tiffany Colored Gems. New York: Abrams, 2007. (Available Fall 2007)
  • Loring, John. Greetings from Andy Warhol: Christmas at Tiffany's. New York: Abrams, 2004.
  • Loring, John. Louis Comfort Tiffany at Tiffany & Co. New York: Abrams, 2002.
  • Loring, John. Magnificent Tiffany Silver. New York: Abrams, 2001.
  • Loring, John. The New Tiffany Tablesettings. New York: Doubleday, 1981.
  • Loring, John. Paulding Farnham: Tiffany's Lost Genius. New York: Abrams, 2000.
  • Loring, John. A Tiffany Christmas. New York: Doubleday, 1996.
  • Loring, John. Tiffany Diamonds. New York: Abrams, 2005.
  • Loring, John. Tiffany in Fashion. New York: Abrams, 2003.
  • Loring, John. Tiffany Flora and Fauna. New York: Abrams, 2003.
  • Loring, John. The Tiffany Gourmet Cookbook. New York: Doubleday, 1992.
  • Loring, John. Tiffany Jewels. New York: Abrams, 1999.
  • Loring, John. Tiffany's 150 Years. New York: Doubleday, 1987.
  • Loring, John. Tiffany's Palm Beach. New York: Abrams, 2005.
  • Loring, John. Tiffany Parties. New York: Doubleday, 1989.
  • Loring, John. Tiffany Pearls. New York: Abrams, 2006.
  • Loring, John. Tiffany Taste. New York: Doubleday, 1986.
  • Loring, John. Tiffany Timepieces. New York: Abrams, 2004.
  • Loring, John. Tiffany's 20th Century: A Portrait of American Style. New York: Abrams, 1997.
  • Loring, John. The Tiffany Wedding. New York: Doubleday, 1988.
  • Newman, Harold. An Illustrated Dictionary of Jewelry. London: Thames and Hudson, 1981.
  • Phillips, Clare. Bejewelled by Tiffany: 1837–1987. New Haven and London: Yale University Press, 2006.
  • Proddow, Penny and Debra Healy. American Jewelry, Glamour & Tradition. New York: Rizzoli, 1987.
  • Proddow, Penny and Debra Healy. Diamonds: A Century of Spectacular Jewels. New York: Abrams, 1996.
  • Purtell, Joseph. The Tiffany Touch. New York: Random House, 1971.
  • Ricci, Franco Maria. Jean Schlumberger. Milan: Franco Maria Ricci, 1991.
  • Schnierla, Peter and Penny Proddow. Tiffany: 150 Years of Gems and Jewelry. New York: Tiffany & Co., 1987.
  • Snowman, Kenneth A. The Master Jewelers. New York: Abrams, 1990.
  • Stern, Jewel. Modernism in American Silver. New Haven: Yale University Press, 2005.
  • Tiffany Retrospective: Designs from Tiffany and Co., 1837–1999. Tokyo and New York: APT, 1999.
  • Un Diamant Dans La Ville: Jean Schlumberger 1907–1987 Bijoux - Objets. Paris: Musee des Arts decoratifs: 1995.
  • Venable, Charles L. Silver in America 1840–1940: A Century of Splendor. Dallas, Texas: Dallas Museum of Art, 1994.
  • Warren, David B. et al. Marks of Achievement: Four Centuries of American Presentation Silver. Houston: Museum of Fine Arts, in association with Harry N. Abrams, Inc., 1987.
  • Zapata, Janet. The Jewelry and Enamels of Louis Comfort Tiffany. New York: Harry N. Abrams, Publishers, 1993*.

External links

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