What Is Tiffany and Co

3916 words 16 pages
Incorporated: 1868
NAIC: 334518 Watch, Clock, and Part Manufacturing; 339911 Jewelry (except Costume) Manufacturing; 44831 Jewelry Stores
SIC: 3873 Watches, Clocks, Watchcases & Parts; 3911 Jewelry & Precious Metal; 5944 Jewelry Stores

Founded in 1837, Tiffany & Co. has long been renowned for its luxury goods, especially jewelry, and has sought to market itself as an arbiter of taste and style. Tiffany designs, manufactures, and sells jewelry, watches, and crystal glassware. It also sells other timepieces, sterling silverware, china, stationery, fragrances, and accessories. Many of these products are sold under the Tiffany name, at Tiffany stores throughout the world as well as through direct-mail, corporate merchandising, and the Tiffany
…show more content…

Tiffany's sales fell 45 percent to $8.4 million in 1930, dropped another 37 percent to $5.4 million in 1931, and yet another 45 percent to a rock bottom $2.9 million in 1932, when the federal government imposed an additional 10 percent on the excise tax for jewelry. There were staff layoffs in 1933, 1934, 1935, 1938, and 1939. The company lost about $1 million a year throughout the decade, but, dipping into its capital reserve, never stopped paying a dividend, although it fell to $5 a share in 1940. In that year $3.6 million had to be taken from the reserve just to stay in business, and the London store was closed.

Also in 1940, Tiffany moved uptown for the sixth and last time, to the southeast corner of Fifth Avenue and 57th Street, where it put up a $2.5 million Art Deco seven-story building. It was the first completely air-conditioned building in New York. Louis de B. Moore succeeded his father as president in that year. During World War II the Newark factory (which made surgical instruments during World War I) was chiefly given over to military production. It made precision parts for anti-aircraft guns (which it made again during the Korean War) and fitting blocks for airplanes.

Tiffany's fortunes revived somewhat in this period, but in 1949 earnings came to only $19,368. Net profits were a mere $14,787 in 1952, when the Paris store was closed, and $24,906 in 1953. The company's $7 million in 1955 sales was no more than it had taken in during


  • Tiffany Case Hbs
    1543 words | 7 pages
  • Inventory Systems Comparison
    1883 words | 8 pages
  • LeadingTeamsatWestCoastTransit
    1084 words | 5 pages
  • Week 4 Linking Questions
    982 words | 4 pages
  • The Silver Linings Playbook: Clinical Diagnosis of Pat Solitano
    2740 words | 11 pages
  • Luxury Brands: What Are They Doing About Social Responsibility?
    2482 words | 10 pages
  • Louis Vuitton Moet Hennessy Case
    6630 words | 27 pages
  • Human Effects and Involvement on Endangered and Extinct Species
    2971 words | 12 pages
  • Gluten Free
    5932 words | 24 pages
  • Leveraged Buyouts
    8220 words | 33 pages