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On September 21, 1837, Charles Lewis Tiffany and John P. Young opened a stationery and fancy goods store known as Tiffany & Young at 259 Broadway in New York City. Within ten years, jewelry 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 gemmologist George Frederick Kunz, propelled Tiffany & Co. to the forefront of the international jewelry world. From 1907, the firm manufactured and sold the jewelry 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 Schlumberger and Donald Claflin. In 1974, they added Elsa Peretti as 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 then chairman William R. Chaney, and a successful public offering of stock in 1987, the company has successfully expanded into key domestic and international markets. Today they comprise more than 100 locations worldwide.