Tiffany & Co. was established in New York City by Charles Lewis Tiffany and Teddy Young, who sought to create a retail space that catered to a wealthy and fashionable clientele. Initially called Tiffany & Young, the store specialized in stationery and fancy goods, including a carefully curated selection of items that appealed to the affluent society of the time. This emporium was significant for its commitment to quality and refinement, setting the tone for what would later become a hallmark of Tiffany & Co.'s brand identity.

The founders had a vision that extended beyond merely selling merchandise; they wanted to redefine luxury retailing. By offering an upscale shopping experience, they were able to attract customers who sought not just products but also a sense of elegance and exclusivity. This approach was quite innovative for its time, as most retail establishments focused on a broader audience without a specific emphasis on luxury.

As the business evolved throughout the years, Tiffany & Co. expanded its product offerings and gained prominence as a dealer of fine jewelry, particularly known for its engagement rings. The brand developed its signature blue boxes, becoming an enduring symbol of luxury and sophistication. Charles Tiffany's insistence on quality and originality laid the groundwork for future innovations in both design and customer service, defining what luxury shopping would come to mean in the United States and beyond.