Charles Lewis Tiffany took sole control of the company in 1853.
Tiffany & Co. began in New York in 1837 as Tiffany and Young, a stationery and “fancy goods” shop founded by Charles Lewis Tiffany and John B. Young. The business later included partner J. L. Ellis, and its name changed as the partnership evolved. When Young and Ellis retired in 1853, Tiffany assumed control.
That transition also helped define the firm's future. Under Tiffany's direction, the company increasingly emphasized jewelry and precious gemstones rather than its earlier broad assortment of luxury goods. The name was shortened to Tiffany and Company, the form that developed into Tiffany & Co.
The year can be confused with other important dates in the firm's history. 1837 marks the founding, 1845 marks the first Blue Book catalog, and 1870 marks the move to Union Square. In 1853, Tiffany also relocated to a larger five-story building at 550 Broadway, reflecting the company's rapid growth.