On September 2, 1837, Charles Lewis Tiffany and John P.Young opened a stationary and fancy goods store known as Tiffany & Young, at 259 Broadway in New York City. Within ten years, jewellery and silver items were added to their stock. By 1853, Mr Tiffany had assumed complete ownership of the business and the name was changed to Tiffany & Co. During the 19th century, designers such as Edward C Moore and G.Paulding Farnham, as well as renowned gemologist George Frederick Kunz, propelled Tiffany and Co to the forefront of the international jewellery world. Beginning in 1907, the firm manufactured and sold the jewellery designs of Louis Comfort Tiffany, son of the founder. Upon taking over the management of Tiffany & Co. in 1955, Walter Hoving invited several talented designers to join the firm. Among them were Jean Sclumberger and Donald Claflin. In 1974, they added Elsa Peretti an exclusive designer, followed by Paloma Picasso in 1980. In 1979, Avon Products purchased Tiffany & Co. After the management-led buyout of Tiffany in 1984, headed by current chairman William R. Chaney, and a successful public offering of stock in May 1987, the company has successfully expanded into key domestic and international markets. Today they comprise more than 100 locations.