Tiffany & Co. is a holding company that operates through its subsidiary companies (the "Company"). The Company's principal subsidiary, Tiffany and Company, is a jeweler and specialty retailer, whose merchandise offerings include an extensive selection of jewelry (93% of net sales in fiscal 2015), as well as timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories. Through Tiffany and Company and other subsidiaries, the Company is engaged in product design, manufacturing and retailing activities.
Tiffany was founded in 1837 when Charles Lewis Tiffany opened a store in downtown Manhattan. Today, more than 300 TIFFANY & CO. stores serve customers around the world.
The Company's operating segments are as follows: the Americas region (47% of worldwide net sales in 2015) includes sales transacted in TIFFANY & CO. stores in the United States, Canada, Mexico, Brazil and Chile, as well as sales of TIFFANY & CO. products in certain of those markets through Internet, catalog, business-to-business and wholesale operations; the Asia-Pacific region (24% in 2015) consists of sales transacted in TIFFANY & CO. locations in Australia, China, Hong Kong, Korea, Macau, Malaysia, Singapore, Taiwan and Thailand, as well as sales of TIFFANY & CO. products in certain of those markets through Internet, and wholesale operations; Japan (13% in 2015) consists of sales transacted in Japanese department stores and in freestanding stores, as well as sales of TIFFANY & CO. products through Internet, business-to-business and wholesale operations; and Europe (12% in 2015) consists of sales transacted in TIFFANY & CO. stores in Austria, Belgium, Czech Republic, France, Germany, Ireland, Italy, The Netherlands, Russia, Spain, Switzerland, and the United Kingdom, as well as sales of TIFFANY & CO. products in certain of those markets through Internet operations. Other (3% in 2015) consist of retail sales transacted in Tiffany & Co. stores in the United Arab Emirates, wholesales sales of TIFFANY & CO. merchandise to independent distributors for resale in certain markets and wholesale sales of diamonds obtained through bulk purchases that are subsequently deemed not suitable for Tiffany's needs, as well as earnings received from a licensing agreement.The Company's key strategies are: