The company was founded in 1837 by Charles Lewis Tiffany and John B. Young,[13] in Brooklyn, Connecticut, as a \"stationery and fancy goods emporium\", with the help of Charles Tiffany\'s father, who financed the store for only $1,000 with profits from a cotton mill.[14] The store initially sold a wide variety of stationery items and, as of 1838, operated as \"Tiffany, Young and Ellis\" at 259 Broadway in Lower Manhattan.[15][full citation needed] The name was shortened to Tiffany & Company in 1853, when Charles Tiffany took control and established the firm\'s emphasis on jewelry.[16] The company has since opened stores in major cities worldwide. Unlike other stores at the time in the 1830s, Tiffany clearly marked the prices on its goods to forestall any haggling over prices. In addition, against the social norm at the time, Tiffany only accepted cash payments, and did not allow purchases on credit.[17] Such practices (fixed prices for ready money) had first been introduced in 1750 by Palmer\'s of London Bridge.[18] \"Blue Book\" and the Civil War The first Tiffany mail order catalog, known as the \"Blue Book\", was published in 1845 in the United States (U.S.),[19] and publishing of the catalog continues in the 21st century. In 1862, Tiffany supplied the Union Army with swords (Model 1840 Cavalry Saber), flags and surgical implements. In 1867, Tiffany was the first U.S. firm to win an award for excellence in silverware at the Exposition Universelle in Paris. In 1868, Tiffany was incorporated.[9] \"Gilded Age\" In 1870, the company built a new store building at 15 Union Square West, Manhattan, which was designed by John Kellum and cost $500,000. It was described by The New York Times as a \"palace of jewels.\"[20] Tiffany stayed at this site until 1906.[20] In 1877, an insignia that would become the New York Yankees \"NY\" logo was struck on a police medal of honor by Tiffany; the Yankees adopted the logo in 1909. In 1878, Tiffany won the gold medal for jewelry and a grand prize for silverware at the Paris Exposition. In 1879, Tiffany purchased one of the world\'s largest yellow diamonds which became known as the Tiffany Diamond. The Tiffany Diamond has only been worn by four people, one of whom was Audrey Hepburn for the promotion of \"Breakfast at Tiffany\'s\".[21] In 1887, Tiffany bought a number of pieces at the auction of part of the French Crown Jewels, which attracted publicity and further solidified the Tiffany brand\'s association with high-quality diamonds.[22] The company revised the Great Seal of the United States in 1885.[citation needed] 1900?1999 \"Tiffany Cross\" version of the Medal of Honor In 1902, after the death of Charles Lewis Tiffany, his son, Louis Comfort Tiffany, became the company\'s first official design director.[19] In 1905, the Manhattan flagship store was relocated to the corner of 37th Street and Fifth Avenue, where it would remain for 35 years.[23] In 1919, the company made a revision to the Medal of Honor on behalf of the United States Department of the Navy.[24] This \"Tiffany Cross\" version was rare because it was awarded only for combat, using the previous design for non-combat awards.[25] In 1942, the Navy established the Tiffany version for non-combat heroism as well but, in August 1942, the Navy subsequently eliminated the Tiffany Cross and the two-medal system.[26] The company moved its flagship store to its present-day 727 Fifth Avenue building in 1940; the building was designed by Cross & Cross.[27] In 1956, legendary designer Jean Schlumberger joined Tiffany, and Andy Warhol collaborated with the company to create Tiffany holiday cards (circa 1956?1962).[19][28] In 1968, Lady Bird Johnson, First Lady of the U.S. at the time, commissioned Tiffany to design a White House china-service that featured 90 flowers.[29][30] In November 1978, Tiffany & Co. was sold to Avon Products, Inc for about US$104 million in stock.[31] However, in a 1984 Newsweek article, the Fifth Avenue Tiffany store was likened to the Macy\'s department store during a white sale, due to the high number of inexpensive items on sale;[17] furthermore, customers complained about declining quality and service. In August 1984, Avon sold Tiffany to an investor group led by William R. Chaney for $135.5 million in cash. Tiffany went public again in 1987 and raised about $103.5 million from the sale of 4.5 million shares of common stock.[17] Due to the 1990?1991 recession in the United States, Tiffany commenced an emphasis upon mass merchandising. A new campaign was launched that stressed how Tiffany could be affordable for all; for example, the company advertised that the price of diamond engagement rings started at $850. \"How to Buy a Diamond\" brochures were sent to 40,000 people, who called a toll-free number specifically set up to target the broader population.[17] However, to maintain its image as a luxury goods company, high-style images remained on display in Tiffany stores.[17] On September 4, 1994, a jewelry heist occurred at the store in New York City, in which six men stole $1.9 million of jewelry. During the incident, no shots were fired and no vandalism occurred. Two weeks after the robbery, the six men were arrested and the jewelry was recovered.[32]