Exhibit (a)(1)(v)

OFFER TO PURCHASE FOR CASH
ALL OUTSTANDING SHARES OF COMMON STOCK
PAR VALUE $0.01 PER SHARE
OF

LITTLE SWITZERLAND, INC.
AT
$2.40 NET PER SHARE
BY

TSAC CORP.
AN INDIRECT WHOLLY OWNED SUBSIDIARY OF

TIFFANY & CO.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON
SEPTEMBER 13, 2002, WHICH DATE MAY BE EXTENDED.

August 15, 2002

To our Clients:

Enclosed for your consideration are the Offer to Purchase, dated August 15,
2002 (the "Offer to Purchase") and the related Letter of Transmittal (which,
together with any amendments or supplements thereto, collectively constitute the
"Offer") in connection with the offer by TSAC Corp., a Delaware corporation
("Purchaser") and an indirect wholly owned subsidiary of Tiffany & Co., a
Delaware corporation ("Tiffany"), to purchase all outstanding shares of common
stock, par value $0.01 per share (the "Shares"), of Little Switzerland, Inc., a
Delaware corporation ("Little Switzerland"), at $2.40 per Share, net to the
seller in cash, upon the terms and subject to the conditions set forth in the
Offer to Purchase.

WE ARE (OR OUR NOMINEE IS) THE HOLDER OF RECORD OF THE SHARES HELD FOR YOUR
ACCOUNT. A TENDER OF SUCH SHARES CAN BE MADE ONLY BY US AS THE HOLDER OF RECORD
AND PURSUANT TO YOUR INSTRUCTIONS. THE ENCLOSED LETTER OF TRANSMITTAL IS
FURNISHED TO YOU FOR YOUR INFORMATION ONLY AND CANNOT BE USED BY YOU TO TENDER
SHARES HELD BY US FOR YOUR ACCOUNT.

Accordingly, we request instructions as to whether you wish us to tender on
your behalf any or all of the Shares held by us for your account, upon the terms
and subject to the conditions set forth in the Offer to Purchase. Your attention
is directed to the following:

1. The tender price is $2.40 per Share, net to the seller in cash
without interest.

2. The Offer is being made for all outstanding Shares.

3. THE OFFER IS BEING MADE WITHOUT THE PRIOR APPROVAL OF THE LITTLE
SWITZERLAND BOARD OF DIRECTORS.

4. THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M. NEW YORK
CITY TIME, ON SEPTEMBER 13, 2002, WHICH DATE MAY BE EXTENDED.

5. The Offer is conditioned upon, among other things, there being
validly tendered and not withdrawn a sufficient number of Shares such that,
after the Shares are purchased pursuant to the

Offer, Tiffany and its subsidiaries would own at least 90% of the Shares on
a fully-diluted basis. The Offer is also subject to the other conditions
set forth in the Offer to Purchase. See Sections 1 and 11 of the Offer to
Purchase.

6. Tendering holders of Shares ("Holders") whose Shares are
registered in their own name and who tender directly to Mellon Investor
Services LLC, as depositary (the "Depositary"), will not be obligated to
pay brokerage fees or commissions or, except as set forth in Instruction 6
of the Letter of Transmittal, transfer taxes on the purchase of Shares by
Purchaser pursuant to the Offer. However, Federal income tax backup
withholding at a rate of 30% may be required, unless an exemption is
available or unless the required tax identification information is
provided. See Instruction 8 of the Letter of Transmittal.

7. Notwithstanding any other provision of the Offer, payment for
Shares accepted for payment pursuant to the Offer will in all cases be made
only after timely receipt by the Depositary of (a) certificates evidencing
such Shares (or a confirmation of a book-entry transfer of such Shares (a
"Book-Entry Confirmation") with respect to such Shares) into the
Depositary's account at The Depository Trust Company, (b) a Letter of
Transmittal properly completed and duly executed with any required
signature guarantees (or, in the case of a book-entry transfer, an Agent's
Message (as defined in Section 3 to the Offer to Purchase) in lieu of the
Letter of Transmittal) and (c) any other documents required by the Letter
of Transmittal. Accordingly, tendering Holders may be paid at different
times depending upon when certificates for Shares or Book-Entry
Confirmations with respect to Shares are actually received by the
Depositary. UNDER NO CIRCUMSTANCES WILL INTEREST ON THE PURCHASE PRICE OF
THE TENDERED SHARES BE PAID BY PURCHASER, REGARDLESS OF ANY EXTENSION OF
THE OFFER OR ANY DELAY IN MAKING SUCH PAYMENT.

The Offer is being made only by the Offer to Purchase and the related
Letter of Transmittal and any amendments or supplements thereto, and is being
made to all holders of the Shares. The Offer is not being made to (nor will
tenders be accepted from or on behalf of) holders of Shares in any jurisdiction
where the making of the Offer or the acceptance thereof would not be in
compliance with the laws of such jurisdiction.

If you wish to have us tender any or all of the Shares held by us for your
account, please so instruct us by completing, executing, detaching and returning
to us the instruction form set forth herein. If you authorize the tender of your
Shares, all such Shares will be tendered unless otherwise specified below. An
envelope to return your instructions to us is enclosed. YOUR INSTRUCTIONS SHOULD
BE FORWARDED TO US IN AMPLE TIME TO PERMIT US TO SUBMIT A TENDER ON YOUR BEHALF
PRIOR TO THE EXPIRATION DATE.

INSTRUCTIONS WITH RESPECT TO THE OFFER TO PURCHASE FOR CASH
ALL OUTSTANDING SHARES OF COMMON STOCK OF

LITTLE SWITZERLAND, INC.
BY
TSAC CORP.
AN INDIRECT WHOLLY OWNED SUBSIDIARY OF

TIFFANY & CO.

The undersigned acknowledge(s) receipt of your letter, the enclosed Offer
to Purchase, dated August 15, 2002, and the related Letter of Transmittal
(which, together with any amendments or supplements thereto, collectively
constitute the "Offer") in connection with the offer by TSAC Corp., a Delaware
corporation ("Purchaser") and an indirect wholly owned subsidiary of Tiffany &
Co., a Delaware corporation ("Tiffany"), to purchase all outstanding shares of
common stock, par value $0.01 per share (the "Shares"), of Little Switzerland,
Inc., a Delaware corporation ("Little Switzerland"), at $2.40 per Share, net to
the seller in cash, upon the terms and subject to the conditions set forth in
the Offer to Purchase, dated August 15, 2002.

This will instruct you to tender to Purchaser the number of Shares
indicated below (or, if no number is indicated below, all Shares) which are held
by you for the account of the undersigned, upon the terms and subject to the
conditions set forth in the offer.

<Table>

Number of Shares to
be Tendered* -------------------------------------- SIGN HERE --------------------------------------
Account No. --------------------------------------- Signatures ------------------------------------------
Dated: ---------------------------------------------- Print Name(s) -------------------------------------
Address(es) ----------------------------------------
Area Code and
Telephone Number --------------------------------
Tax Identification
or Social Security ----------------------------------
</Table>

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* Unless otherwise indicated, it will be assumed that all Shares held by us for
your account are to be tendered.