Tiffany & Co. is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer whose principal merchandise offering is fine jewelry. It also sells timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories. Through Tiffany and other subsidiaries, the Company is engaged in product design, manufacturing and retailing activities. The Company operates in three segments: Americas, Asia-Pacific and Europe. Americas includes sales in TIFFANY & CO. stores in the United States, Canada and Latin/South America, as well as sales of TIFFANY & CO. products in certain of those markets through business-to-business, Internet, catalog and wholesale operations. Asia-Pacific includes sales in TIFFANY & CO. stores in the Asia-Pacific region. Europe includes sales in TIFFANY & CO. stores in Europe, as well as sales of TIFFANY & CO. products.