TIFFANY & CO is a holding company, and conducts all business through its subsidiary
corporations.
TIFFANY & CO’s principal product categories are fine jewelry, timepieces,
sterling silver goods, china, crystal, stationery, fragrances and personal accessories.
TIFFANY & CO offers an extensive selection of TIFFANY & CO. brand jewelry
at a wide range of prices.
In addition to jewelry, the Company sells TIFFANY & CO. brand merchandise
in the following categories: timepieces and clocks; sterling silver merchandise,
including flatware, hollowware (tea and coffee services, bowls, cups and trays),
trophies, key holders, picture frames and desk accessories; stainless steel
flatware; crystal, glassware, china and other tableware; custom engraved stationery;
writing instruments; and fashion accessories. Fragrance products are sold under
the trademarks TIFFANY, PURE TIFFANY and TIFFANY FOR MEN. Tiffany also sells
other brands of timepieces and tableware in its U.S. stores.
U.S. Retail consists of retail sales transacted in Tiffany-operated stores
in the United States
Direct Marketing consists of U.S. business-to-business, direct mail catalog
and Internet sales
International Retail consists of both retail and wholesale sales to customers
located outside the United States, as well as a limited amount of business-to-business
sales and Internet sales; and
Specialty Retail consists of retail and wholesale sales transacted under non-TIFFANY
trademarks and trade names. It includes sales transacted in LITTLE SWITZERLAND
and TEMPLE ST. CLAIR stores and will include sales under other marks to be developed.
Merchandise offered for sale by the Company is supplied from Tiffany’s jewelry
and silver goods manufacturing facility in Cumberland, Rhode Island and Tiffany’s
workshops in New York City and Pelham, New York; Parsippany, New Jersey; Salem,
West Virginia; and Paris, France and through purchases and consignments from
others. It is TIFFANY & CO’s long-term objective to continue its expansion
of Tiffany’s internal manufacturing operations. However, it is not expected
that Tiffany will ever manufacture all of its needs.
Gems and precious metals used in making Tiffany’s jewelry may be purchased
from a variety of sources. For the most part, purchases of such materials are
from suppliers with which Tiffany enjoys long-standing relationships.
Competition
TIFFANY & CO encounters significant competition in all of its product lines
from other third-party providers, some of which specialize in just one area
in which the Company is active. Many of the Company’s competitors have established
reputations for style and expertise similar to that of the Company and compete
on the basis of reputation for high quality products and/or brand recognition.
Other jewelers and retailers compete primarily through advertised price promotion.
The Company competes on the basis of reputation for high quality products, brand
recognition, and distinctive value-priced merchandise and does not engage in
price promotional advertising.
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