In 1838, Charles Lewis Tiffany and his business partner J. B. Young broke ground on Tiffany & Young, a "fancy goods" shop in New York City. The store was located in a prime spot on Broadway, and was met with quick success, easily establishing itself as the ideal spot for fashionable women to find jewels, timepieces, and stationary. By the 1840's, Tiffany had selected the infamous blue color of its boxes and branding.

Tiffany & Young became renowned for being the first American company to use the British standard for silver, exclusively crafting their pieces with metal that was 92% pure. In 1867, Tiffany became internationally acclaimed for winning the grand prize in silver craftsmanship at the World's Fair in Paris. In 1878, the company obtained a hefty 287.42 carat rough Fancy yellow diamond from the Kimberley diamond mines in South Africa.

The diamond was cut and polished into a 128.54 carat stone with eighty-two facets, and established the company's name as the categorical standard for luxury gemstones and jewelry. The diamond can still be seen today at the Tiffany New York City flagship store.

Charles Lewis Tiffany earned himself the name "The King of Diamonds" in 1887, when he broke headlines buying a third of the French Crown Jewels. Since the late 1800's, Tiffany & Co. has been synonymous with romance and marriage, setting the standard for engagement rings, diamonds, and luxury gifts.