The Brand Story of Tiffany & Co.

Starting with first day sales of $4.98 to now being established as a luxury brand synonymous with opulence, Tiffany & Co. has a story worth knowing.

It has created history, shaped modern jewelry and is continuing to add to its rattling and rich story.

Establishment

1837

Tiffany & Company was founded in 1837 by 25-year-old Charles Lewis Tiffany and John B. Young. Tiffany’s father financed the brand with an advance of $1000. Set up as a ‘stationery and fancy goods’ store, it then sold no jewelry. Jewelry became a part of their brand in the 1840s.

Courtesy : insider.com

They set the brand apart by discovering an ‘American style’, parting away from the European aesthetic. The major source of inspiration was the natural world which they interpreted and executed in their simplistic and harmonious designs.

1841

With the joining of a new partner, J.L. Ellis, the brand was renamed to ‘Tiffany, Young & Ellis’.

1845

The first direct mail catalogue to ever be published in the US was done by the brand in order to introduce Americans to the realm of luxury goods. This catalogue is now known as the Blue Book and is released annually, featuring the world’s rarest jewels.

This was the origin of the signature turquoise colour of the brand which has been carried on since then and is now colloquially called ‘Tiffany Blue’. It has become an integral part of the identity of the brand.

Courtesy : tiffany.com

1848

Charles Lewis Tiffany’s purchases of gemstones from European aristocrats made Tiffany the ultimate destination for the jewelry it’s now widely known for.

1853

Charles Lewis Tiffany parted ways with the other partners and acquired sole ownership of the brand his father once financed and supported. He renamed the brand to the now known, ‘Tiffany & Co’.

He unveiled a nine-foot-long Atlas clock above the Tiffany store which still stands above the entrance of the Fifth Avenue flagship store and has acquired the title of the oldest public clock in New York City.

Courtesy : Pinterest

1867

Tiffany & Co. was the first American company to employ the British silver standard – 92% pure, to produce its extravagant products. It was awarded the grand prize for silver craftsmanship at the 1867 Paris World’s Fair. This fetched the brand international recognition.

1878

Charles Lewis Tiffany purchased the world’s largest and finest yellow diamond. It was cut to 128.54 carats from 287.42 carats and named the ‘Tiffany Diamond’. It is on permanent display at the Fifth Avenue flagship store and attracts a plethora of visitors.

Courtesy : luxuryprojects.co

1886

Tiffany & Co. introduced the revolutionary Tiffany® Setting in rings. Previously diamonds in rings were set in bezels, but the Tiffany® Setting allowed the diamond to float above the band and at the same time also allowed light to reflect its unmatched beauty.

This design is still the most popular for engagement rings.

Courtesy : tiffany.com

Influence 

By the early 1900s Tiffany & Co. had carved its place in the world of jewelry. It had established itself in the world of high-society families, politicians and celebrities. Franklin Roosevelt had purchased a Tiffany engagement ring for Elanor Roosevelt in 1904. Even President Lincoln had purchased a seed pearl suite for his wife back in 1861.

Over the next few decades, Tiffany & Co. had earned itself the tag of ‘world’s diamond authority’ and had exerted its influence throughout the world. It had become ubiquitous; spotted on some of the nation’s most famous and influential people, and on a plenitude of models in magazines.

Courtesy : businessinsider.in

The US Government had contacted Tiffany & Co. for several designs. A few of them being – ceremonial swords for Civil War generals, the Congressional Medal of Honor and to redesign the Great Seal of the United Sates which appears on the one-dollar bill.

Courtesy : nytimes.com

Other professional organizations had also contacted the company for custom designs. In 1967, Tiffany & Co. had created their first NFL Vince Lombardi Super Bowl Trophy, weighing seven pounds. They have been creating the same every year since.

Courtesy : athlonsports.com

Tiffany & Co. had also created the NBA Championship Trophy in 1978; standing two feet tall and weighing approximately sixteen pounds.

Courtesy : tiffany.com

The brand has been of prominent significance in Hollywood as well. Even today a myriad of Hollywood personalities walk the red carpet in Tiffany designs.

Courtesy : redcarpet-fashionawards.com

POP CULTURE

The advent of Tiffany & Co. into popular culture was inevitable, owing to its popularity. The most iconic example of this is the brand’s cinematic debut in the classic, Breakfast at Tiffany’s. It was the first ever movie to be filmed at Tiffany’s flagship store and features several scenes both inside and outside the store along with their jewelry.

Courtesy : truefacet.com

Courtesy : tiffany.com

An interesting incident happened on the sets of this movie. Forty armed guards were employed to stop the possible theft of any of the Tiffany boxes as the brand had clear instructions to only give the iconic blue boxes along with purchased products. Charles Lewis Tiffany said in 1906, “Tiffany has one thing in stock that you cannot buy off him for as much money as you may offer, he will only give it to you. And that is one of his boxes.”

The movies Legally Blonde (2011) and its sequel (2013), feature the protagonist, Reese Witherspoon, wearing a Tiffany heart necklace.

Courtesy : Pinterest

Even Rosemary’s Baby (1967) and Sweet Home Alabama (2002) feature scenes from the store. However not only on movies, but Tiffany & Co. has also exerted its influence on television series and music. The popular series, Gossip Girl features several references to the brand. Moreover, the song Diamonds are a Girl’s Best Friend by Marilyn Monroe has two mentions of ‘Tiffany’s’.

Expansion

The diving of the brand into other arenas apart from jewelry such as: fragrances, tableware and luxury home goods, led to the expansion of its collection.
The brand expanded not only its collection, but also its stores. They spread to different parts of the world.
As of 27^th March, 2020; Tiffany & Co. operated 326 stores all across the world. The maximum being in the Unites States followed by the Asia-Pacific region.

Courtesy : tiffany.com

Expansion and growth of the brand have not stopped. They are continuing to open new stores to explore new areas. South Asia is one area they are attempting to strengthen their presence in.

Tiffany & Co. announced its plans to enter the Indian market through a joint venture with Reliance Brands Limited. They set their foot into India with the opening of a store in Delhi in January 2020 and plan on doing so in Mumbai as well.

Tiffany & Co.’s CEO, Alessandro Bogliolo, said, “As a global luxury jeweler with stores in many of the world’s most important cities, Tiffany’s emergence in New Delhi presents a unique opportunity, particularly given India’s growing luxury consumer base and passion for jewelry.”

The Delhi store of Tiffany & Co. at The Chanakya.

Courtesy : tiffany.com

Read More Brand Stories of Famous Luxury Brands Here

On 25^th November, 2019 the luxury giant LVMH declared the acquisition of the global luxury jeweler, Tiffany & Co for a whopping $16.2 billion! This deal is the largest in the history of the luxury sector, according to CNN Business, and is expected to be completed by the middle of 2020.

Such a deal is expected to prove beneficial to both parties. It would allow LVMH to establish a higher level of prominence in the domain of fine jewelry and Tiffany & Co. to freshen its products and further enhance its reputable name overseas.

Bernard Arnault, CEO and chairman of leading luxury group LVMH said, “We have an immense respect and admiration for Tiffany and intend to 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.”