Exhibit 99.1
TIFFANY & CO.
NEWS RELEASE

Fifth Avenue & 57th Street Contacts:
New York, N.Y. 10022 ---------
James N. Fernandez
(212)230-5315
Mark L. Aaron
(212)230-5301

TIFFANY'S HOLIDAY SALES INCREASE 15%
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New York, N.Y., January 10, 2007 - Tiffany & Co. (NYSE: TIF) today reported
geographically broad-based sales growth in its holiday period from November 1 -
December 31, 2006.

Net sales increased 15% to $818,087,000, due to strong growth in the U.S. and
most international markets. On a constant-exchange-rate basis which excludes the
effect of translating foreign-currency-denominated sales into U.S. dollars (see
attached "Non-GAAP Measures" schedule), net sales rose 14% and worldwide
comparable store sales increased 7%. These results are based on unaudited sales.

Sales by channel of distribution were as follows:

o U.S. Retail sales increased 12% to $432,430,000. Comparable store
sales rose 8%, due to sales growth of 15% in Tiffany's New York
flagship store and 7% in comparable branch stores, resulting from
increases both in the number of transactions and in the average amount
spent per transaction. Five new U.S. stores opened in 2006 also
meaningfully contributed to sales growth.

o International Retail sales increased 18% to $283,549,000. On a
constant-exchange-rate basis, sales rose 14% and comparable store
sales rose 6%. Strong sales growth was achieved in most international
markets, which more than offset a comparable store sales decline in
Japan. Detailed sales results by geographical region are noted on the
attached "Non-GAAP Measures" schedule.

o Direct Marketing sales rose 10% to $69,738,000, due to increases in
both the number of orders and in the amounts spent per order.

o Other sales rose 51% to $32,370,000. The increase was largely due to
increased wholesale sales of diamonds, as well as increased specialty
retail sales in IRIDESSE and LITTLE SWITZERLAND stores.

Michael J. Kowalski, chairman and chief executive officer, said "We are
delighted to report such strong overall sales growth for the holiday season
which exceeded our expectations. We saw healthy sales increases in many product
categories ranging from diamonds to silver jewelry. Based on these results and
no meaningful change in sales or margin trends in the rest of the fiscal year
ending January 31st, our full year expectation calls for 11-12% growth in
earnings before income taxes and net earnings in a range of $1.82 - $1.85 per
diluted share."

Mr. Kowalski added, "Based on the success of new stores and numerous
opportunities, our plans for 2007 include accelerating the pace of TIFFANY & CO.
store openings to 5-7 in the U.S. and 10 internationally. We will also introduce
a wide range of new products. We are still engaged in our financial planning,
but our preliminary expectation for 2007 calls for low-double-digit net sales
growth and approximately 13-15% growth in earnings per diluted share. We will
elaborate further when we report our full year 2006 results."

Today's Conference Call
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The Company will host a conference call today at 8:30 a.m. (EST) to review these
results and its outlook. Investors may listen to the call at www.tiffany.com
(click on "About Tiffany," "Shareholder Information," "Conference Call") and
www.streetevents.com.

Next Scheduled Announcement
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The Company intends to report its fourth quarter and full year results on March
26, 2007 with a conference call at 8:30 a.m. (EST) that day, to be broadcast at
www.tiffany.com and www.streetevents.com. To receive future notifications of
conference calls and news release alerts, please register at www.tiffany.com
(click on "About Tiffany," "Shareholder Information," "Calendar of Events" and
"News by E-Mail").

Company Description
- -------------------
Tiffany & Co. operates jewelry and specialty retail stores and manufactures
products through its subsidiary corporations. Its principal subsidiary is
Tiffany and Company. The Company operates TIFFANY & CO. retail stores and
boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling
through Internet, catalog and business gift operations. Other operations include
consolidated results from ventures operated under trademarks or tradenames other
than TIFFANY & CO. For additional information, please visit www.tiffany.com or
call our shareholder information line at 800-TIF-0110.

This document contains certain "forward-looking" statements concerning the
Company's objectives and expectations with respect to sales, store openings,
gross margins, expenses and earnings. Actual results might differ materially
from those projected in the forward-looking statements. Information concerning
risk factors that could cause actual results to differ materially is set forth
in the Company's 2005 Annual Report on Form 10-K and in other reports filed with
the Securities and Exchange Commission. The Company undertakes no obligation to
update or revise any forward-looking statements to reflect subsequent events or
circumstances.
# # #

TIFFANY & CO. AND SUBSIDIARIES
(Unaudited)

NON-GAAP MEASURES
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The Company reports information in accordance with U.S. Generally Accepted
Accounting Principles ("GAAP"). Internally, management monitors the sales
performance of its international stores and boutiques on a non-GAAP basis that
eliminates the positive or negative effects that result from translating
international sales into U.S. dollars ("constant-exchange-rate basis").
Management believes this constant-exchange-rate measure is a more representative
assessment of the sales performance of its international stores and boutiques
and provides better comparability between reporting periods.

The Company's management does not, nor does it suggest that investors should,
consider such non-GAAP financial measures in isolation from, or as a substitute
for, financial information prepared in accordance with GAAP. The Company
presents such non-GAAP financial measures in reporting its financial results to
provide investors with an additional tool to evaluate the Company's operating
results.

The following tables reconcile sales percentage increases (decreases), versus
the prior year, from the GAAP to the non-GAAP basis:

Two Months Ended
December 31, 2006
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Constant-
GAAP Translation Exchange-Rate
Reported Effect Basis
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Net Sales:
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Worldwide 15% 1% 14%
U.S. Retail 12% - 12%

International
Retail 18% 4% 14%
Japan Retail 1% 1% -

Other Asia-
Pacific 29% 4% 25%
Europe 37% 13% 24%

Comparable Store Sales:
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Worldwide 9% 2% 7%
U.S. Retail 8% - 8%

International
Retail 10% 4% 6%
Japan Retail (4%) - (4%)

Other Asia-
Pacific 28% 5% 23%
Europe 32% 13% 19%