SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
FORM 8-K
CURRENT REPORT
-----------------------
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 19, 1999
TIFFANY & CO.
(Exact name of Registrant as specified in its charter)
Delaware 1-9494 13-3228013
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation) Identification Number)
727 Fifth Avenue, New York, New York 10022
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 755-8000
<PAGE>
Item 5. Other Events.
On July 19, 1999, Registrant issued the following press release announcing
that it will form a joint venture and enter into a diamond supply agreement with
Aber Resources Ltd.:
NEW YORK, July 19, 1999 - Tiffany & Co. (NYSE-TIF) announced that it
will form a joint venture and enter into a diamond supply agreement
with Aber Resources Ltd. (TSE-ABZ and NASDAQ-ABERF). It is expected
that this commercial relationship will enable Tiffany to secure a
considerable portion of its future diamond needs.
Aber, based in Vancouver, holds a 40 percent interest in the Diavik
Diamonds Project in Canada's Northwest Territories, an operation being
developed to mine substantial gem-quality diamond reserves. Production
is expected to commence in 2002.
Michael J. Kowalski, President and Chief Executive Officer, said, "We
are excited about this unique sourcing opportunity, which is consistent
with our vertical integration strategy. Diamond jewelry represents our
largest product category, and ongoing growth will require us to secure
an increasing quantity of the highest-quality diamonds. This agreement
with Aber is intended to ensure Tiffany a steady supply of diamonds at
competitive prices."
In addition, Tiffany announced that it is making a strategic investment
in Aber, by purchasing 8 million shares of its Common Stock at a cost
of approximately $72 million, representing approximately 14.9 percent
of Aber's outstanding shares. In connection with this investment, one
member of Tiffany's management will join Aber's Board of Directors.
Tiffany & Co. is the internationally renowned jewelry and specialty
retailer. Sales are made through TIFFANY & CO. stores and boutiques,
and to select retailers and distributors, in the Americas,
Asia-Pacific, Europe and the Middle East. Direct Marketing sales are
made through Tiffany's Corporate and Catalog divisions. Additional
information can be found on the Company's Web site at www.tiffany.com.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TIFFANY & CO.
BY: /s/ Patrick B. Dorsey
_____________________________________
Patrick B. Dorsey
Senior Vice President, General Counsel
Date: July 20, 1999 and Secretary
