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Tiffany & Co's History
Tiffany & Co. has long been legendary for its premium goods, especially jewelry. The popularity of the Tiffany & Co’s jewelry is well known for his design and quality. Tiffany's designs, manufactures, and sells jewelry, watches, and crystal glassware. One of the Tiffany & Co’s designs is the toggle bracelet. Tiffany & Co’s goods are also sold at wholesale price to third-party distributors. Jewelry accounted for two-thirds of Tiffany & Co’s sales volume in fiscal year 1994. Other products are lamp, bags and etc.
In the year 1837 , founder Charles Lewis Tiffany and John F. Young opened Tiffany & Young (now known as Tiffany & Co), with $1,000 borrowed from Tiffany's father. They started at a broadway opposite
Manhattan 's City Hall Park. They start selling stationery and a variety of "fancy goods," including costume jewelry. Unlike other stores of the time, Tiffany featured plainly marked prices that were strictly adhered to, sparing the customer the usual practice of haggling with the proprietor. This made Tiffany & Co branding as a prestige product in the market. Tiffany also departed from the norm by insisting on cash payment rather than extending credit or accepting barter.
In 1841 Tiffany and Young took on another partner, J. L. Ellis, and the store became Tiffany, Young & Ellis. (Now known as Tiffany & Co) By 1845 the store was successful enough to discontinue paste and begin selling real jewelry, as well as the city's most complete line of stationery. Silverware was added in 1847. In addition to these main items, Tiffany's also start selling watches and clocks, a variety of ornaments and bronzes, perfumes, preparations for the skin and hair, dinner sets, cuspidors, moccasins, belts, and numerous other sundries, including Chinese bric-a-brac and horse and dog whips.
With such a simple concept and attitude in selling silver products, Tiffany & Co made their way to the world and thus creating a prestige brand name of Tiffany & Co today.
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