At first, they started selling expensive stationary, and unique items they'd find around the world, but Charles' passion was jewelry. Before even starting the company, he became a gemologist, so he'd be prepared to start selling them. He was extraordinary in knowing what would sell and for what price. It was WAY more difficult figuring that out back then.
The first Tiffany mail order catalog, known as the "Blue Book", was published in 1845 in the United States and is still being published to this day, 186 years later. In 1862, Tiffany supplied the Union Army with swords, flags, and surgical implements. In 1867, Tiffany was the first U.S. firm to win an award for excellence in silverware at the Exposition Universelle in Paris. It's a big thing. Me, you can find at the Plastic Cutlery Expose. 😎
In January of 2021, Tiffany & Co., was sold to an investment firm for $15.8 billion. Their goal is to increase their brand shares in China and Europe using the connections they already have with some of the other companies they own like Louis Vuitton which first opened its doors in 1854.
An interesting note is that the deal to purchase Tiffany & Co., almost was nixed because the purchasing company said they didn't like that the management team gave out bonuses during COVID when the company was losing money. This kind of move impacts a stock's value. They ended up lowering their offer by around $200 million to offset the possibilities of a stock decline after they purchased the company. Nothing bad happened.
A few notes and then I'll call it quits:
1. Tiffany & Co. now owns 326 retail stores while Louis Vuitton has 460.
2. Typically, all the major championships (i.e., Super Bowl Trophy, Stanley Cup, etc.,) use Tiffany's to create their trophies, along with championship rings for the coaches and players.
3. Tiffany's has been providing Wimbledon's women's trophy since 1886.
4. Charles was married to Harriet Olivia Avery Young for 80 years. After she passed away, Charles lived five more years and died at the age of 90. They had six children together. One of their sons (he was Charles Jr.,) died at the age of five. Years later they attempted to place Charles' name on another son, and he died around the age of one.
5. The company has always had a strong push for helping people in need around the world. Now that the family is out of the picture, I don't know if they'll keep up the aggressive philanthropy.
There you have it. I love companies who have been around a long time like Macy's, Louie Vuitton, and Tiffany's. They had to have been doing something right all these years.
The humble abode below belonged to Charles. The next picture is of one of their retail stores in 1873. I don't know about you but there's no way my mom would've taken us four kids to a Tiffany's. You break it, you buy it. Scary! Lastly, is a picture of Charles Tiffany.