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  • October 1987 (Revised July 1991)
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Tiffany & Co.

By: Samuel L. Hayes III
  • Format:Print
  • | Pages:26
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Abstract

This premier retail jewelry company was bought from its parent, Avon, by a group of investors led by its own management in 1984. The company was highly leveraged, financially, and had to scramble to meet the cash flow and earnings requirements laid down by its lenders. Management effected a turnaround and decided to "go public" to pay down its debt and provide further growth funds. Students must assess the company's relative appeal to investors and refine a pricing recommendation for the securities underwriting syndicate.

Keywords

Acquisition; Borrowing and Debt; Cash Flow; Price; Going Public; Apparel and Accessories Industry

Citation

Hayes, Samuel L., III. "Tiffany & Co." Harvard Business School Case 288-022, October 1987. (Revised July 1991.)
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About The Author

Samuel L. Hayes

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More from the Author
  • Dual Class Share Companies By: Samuel L. Hayes III, Lynn S. Paine and Christopher Bruner
  • The Impact of Recombining Commercial and Investment Banking By: Samuel L. Hayes III
  • The Impact of Recombining Commercial and Investment Banking By: Samuel Hayes
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