Tiffany & essay

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ACCOUNTING PROJECT

Tiffany & Co.

Company Profile
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 (91% of net sales in fiscal 2011), 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 250 TIFFANY & CO. stores and boutiques serve customers around the world. The Company's operating segments are as follows: the Americas region (50% of fiscal 2011 sales) includes sales transacted in TIFFANY & CO. stores in the United States, Canada, Mexico and Brazil, 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 (21% of fiscal 2011 sales) consists of sales transacted in TIFFANY & CO. locations in Australia, China, Hong Kong, Korea, Macau, Malaysia, Singapore and Taiwan, as well as sales of TIFFANY & CO. products in certain of those markets through Internet, and wholesale operations; Japan (17% of fiscal 2011 sales) consists of sales transacted in Japanese department store boutiques and in freestanding stores, as well as sales of TIFFANY & CO. products through internet, business-to-business and wholesale operations; and Europe (12% of fiscal 2011 sales) consists of sales transacted in TIFFANY & CO. stores in Austria, Belgium, France, Germany, Ireland, Italy, The Netherlands, Spain, Switzerland, and the United Kingdom, as well as sales of TIFFANY & CO. products in certain of those markets through Internet, and wholesale operations. Other (1% of fiscal 2011 sales) consist primarily of wholesale sales of TIFFANY & CO. merchandise to independent distributors for resale in certain emerging markets (such as the Middle East and Russia) 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 licensing agreements. Tiffany & Co., through its subsidiaries, engages in the design, manufacture, and retail of fine jewelry worldwide. Its jewelry products include fine and solitaire jewelry; diamond engagement rings and wedding bands to brides and grooms; and non-gemstone, sterling silver, gold, and platinum jewelry. The company also provides timepieces, sterling silver goods, china, crystal, stationery, fragrances, personal accessories, and leather goods. Tiffany & Co. sells its products through retail sales, Internet and catalog sales, business-to-business sales, and wholesale distribution primarily in the Americas, the Asia-Pacific, Japan, and Europe. The company also sells its products through its stores, as well as through department store in Japan. The Company's key growth strategies are: to selectively expand its channels of distribution in important markets around the world without compromising the long-term value of the TIFFANY & CO. trademark; to increase sales in existing stores by developing new products; to increase its control over product supply and achieve improved profit margins through direct diamond sourcing and internal jewelry manufacturing; to enhance customer awareness through marketing and public relations programs; and to provide customer service that ensures a superior shopping experience. The Company's shares are traded on The New York Stock Exchange with the symbol TIF. Headquartered in New York, Tiffany has more than 9,000 employees around the world. STOCK INFORMATION

Tiffany & Co.NYSE: TIF - Jan 8 5:38pm ET62.60+1.50‎...
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