Today, one of the most successful companies in the jewelry industry is Tiffany & Co. Founded in 1837 by Charles Lewis Tiffany and John F. Young, the store originally called Tiffany & Young, was created to sell costume jewelry and stationary. In 1853, Tiffany bought out his partner, deeming his company Tiffany & Co. Throughout the years, the company greatly expanded, adding timepieces, silverware, perfumes, and many other luxury items to their sales, with its primary customers being wealthy Americans.
By 1919, the company had made nearly $18 million and, with the death of Charles Lewis Tiffany in 1902, had been taken over by his heirs where the company's shares were sold to Hoving Corporation. In 1940, the store was moved to its present Fifth Avenue location in Manhattan, New York. The Hoving Corporation expanded Tiffany & Co., adding numerous store locations including Houston and San Francisco. By 1987, with the owner of the company now being William Chaney, the company went public, adding over 30 retail locations worldwide.
Over time, Tiffany &Co. flourished. Its high quality products allow the company to continue to expand and profit. According to the company's website, Tiffany & Co.'s mission is to be the world's most respected jewelry retailer, with one of its mission statements saying, "Tiffany & Co. ensures the highest quality of diamonds, ethical sourcing, lifetime warranty, affordable price options, and that they'll always be there for you." While maintaining a personal connections with its customers, Tiffany & Co. has established itself in the industry as the one of the most prestigious jewelry companies known today.
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