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 8%
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New York, N.Y., January 11, 2008 - Tiffany & Co. (NYSE: TIF) today reported that
its worldwide sales for the November 1 - December 31, 2007 holiday period
increased 8% over the prior year to $867,262,000. On a constant-exchange-rate
basis that excludes the effect of translating foreign-currency-denominated sales
into U.S. dollars, net sales rose 6% and worldwide comparable store sales rose
1%. Results are based on unaudited sales.

Sales by channel of distribution were as follows:

o U.S. Retail sales increased 4% to $449,080,000, as increased spending
per transaction was partly offset by a decline in the number of
transactions. Comparable store sales declined 2%.

o International Retail sales rose 18% to $334,766,000. On a
constant-exchange-rate basis, sales rose 12% and comparable store
sales rose 5% due to growth in most countries. Detailed sales results
by geographical region are noted on the attached "Non-GAAP Measures"
schedule.

o Direct Marketing sales of $69,937,000 were equal to the prior year.

o Other sales declined 20% to $13,479,000 due to a reduction in
wholesale sales of diamonds (which declined $2.9 million).

Michael J. Kowalski, chairman and chief executive officer, said, "Tiffany's
holiday sales results were mixed but we still expect to achieve strong earnings
growth in the fourth quarter ending January 31. While we were delighted with
continued strong sales growth across Europe and the Asia-Pacific region outside
Japan, U.S. sales softened after robust growth for much of the year. In
addition, a 10% increase in New York flagship store sales

in the holiday period was driven by foreign tourist spending. We believe a
recent pullback in U.S. spending likely reflected a more cautious attitude among
customers about the near-term direction of the economy and related factors. From
a product perspective, we saw healthy sales growth in the engagement jewelry and
silver jewelry categories."

Assuming no material change in trends through the end of the fiscal year on
January 31, the Company's financial performance expectations for fiscal 2007
call for (i) net sales growth of approximately 14% and (ii) net earnings from
continuing operations per diluted share in a range of $2.60 - $2.63 which
includes (a) a $0.48 per diluted share after-tax gain from the sale and
leaseback of Tiffany's Tokyo flagship store and (b) a $0.04 per diluted share
after-tax contribution to The Tiffany & Co. Foundation, both of which were
recorded in the third quarter, and (c) a pre-tax charge of approximately $20
million, or $0.09 cents per diluted share after tax, to be recorded in the
fourth quarter and related to the discontinuance of certain watches as a result
of the Company's recent agreement with The Swatch Group Ltd. to expand
distribution of watches. Excluding those three items, it equates to $2.25 -
$2.28 per diluted share and compares with a previous expectation of $2.25 -
$2.30 per diluted share. Net earnings, which include a charge related to the
sale of Little Switzerland and its losses from operations, are expected to be in
a range of $2.40 - $2.43 per diluted share.

The Company has made loans to Tahera Diamond Corporation which, combined with
accrued interest, total approximately $50 million. Tahera is currently
attempting to raise additional capital necessary for continued operation of its
Jericho mine. If their efforts are not successful or the expectations of the
mine's operations change, the ability for Tahera to continue operations and the
development of the mine project may be at risk. As a result, the fair value and
collection of the loan receivable may be affected and could result in an
impairment charge, which is not included in the above earnings projections.

Mr. Kowalski added, "Despite soft U.S. sales, we are still projecting the strong
fourth quarter earnings growth (excluding one-time charges) that we expected
prior to the holiday season due to substantially better gross margins and
expense savings. It is also noteworthy that, excluding the various one-time
factors, earnings per diluted share for the year should exceed the 15% growth
objective we established at the start of 2007. In addition, we have been active
in our share repurchase program this year, and in the current quarter through
December 31 have spent $321 million to repurchase 6.9 million shares at an
average price of $46.73 per share."

He continued, "Tiffany has aggressive plans for 2008, which include adding
stores in the U.S. and in a greater number of international markets which, in
total, will increase our store base by 12-15%; introducing a wide range of new
products; and further expanding awareness among design-and quality-conscious
customers, all of which will benefit overall results. We are still engaged in
our planning process and, in light of these holiday sales results and
uncertainty about near-term trends in U.S. consumer spending, we are further
analyzing our sales and earnings growth objectives for 2008. We will provide
guidance to investors when we report fourth quarter and full year results on
March 24."

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
http://investor.tiffany.com (click on "Events and Presentations").

Next Scheduled Announcement
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The Company expects to report its fourth quarter and full year results on March
24, 2008 with a conference call at 8:30 a.m. (EST) that day. To receive
notifications of conference calls and news release alerts, please register at
http://investor.tiffany.com (click on "E-Mail Alerts").

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,
operating margin 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 2006 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
- -----------------
The Company's reported sales reflect either a translation-related benefit from
strengthening foreign currencies or a detriment from a strengthening U.S.
dollar.

The Company reports information in accordance with U.S. Generally Accepted
Accounting Principles ("GAAP"). Internally, management monitors its
international sales performance 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 provides a more representative assessment of the
sales performance 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) from the
GAAP to the non-GAAP basis:

Two Months Ended
December 31, 2007
------------------------------------------------------------

Constant-
GAAP Translation Exchange-Rate
Reported Effect Basis
------------------------------------------------------------
Net Sales:
- ----------
Worldwide 8% 2% 6%
U.S. Retail 4% - 4%
International Retail 18% 6% 12%
Japan Retail 4% 5% (1)%
Other Asia-Pacific 35% 5% 30%
Europe 26% 8% 18%

Comparable Store Sales:
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Worldwide 3% 2% 1%
U.S. Retail (2)% - (2)%
International Retail 11% 6% 5%
Japan Retail (1)% 4% (5)%
Other Asia-Pacific 29% 5% 24%
Europe 15% 8% 7%