Tiffany & Co. is a holding company of subsidiaries that engage in the retail and wholesale sale of its products. Tiffany & Co. has operations divided into five market segments: the Americas, Asia-Pacific, Europe, Japan and Other markets. The company has wholesale operations in each of these market segments.
Tiffany & Co. sells its products on a wholesale basis to independent distributors located offshore for resale in emerging foreign markets, primarily the Middle East and Russia. These markets comprise the other market segment. The company also purchases wholesale lots of diamonds through its subsidiaries located in Belgium, Botswana, Mauritius and Namibia that purchase, sort, cut and polish the stones, and then resells those that are not up to the company’s standards or do not suit its needs.