Tiffany & Company life in 1837 as Cheap Tiffany store & Young, named after founders Charles Tiffany and John Young. In the beginning, the store was located at 259 Broadway in New York City and dealt in stationery and fine goods. Tiffany & Young had an innovative (for the times) policy of giving each item a price tag and not bargaining over prices. That same year, Tiffany introduced the box in the distinctive shade of blue that would come to be known as "Tiffany jewelry store blue." Charles Tiffany took over the company in 1853 and renamed it Tiffany & Co. During this time period, Tiffany sale was known for its fine silver and even earned awards for the quality of its silverware. However, the jewelry portion of the business was gathering steam.