Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Cloud Pamela H
2. Date of Event Requiring Statement (Month/Day/Year)
01/22/2007
3. Issuer Name and Ticker or Trading Symbol
TIFFANY & CO [TIF]
(Last)
(First)
(Middle)
TIFFANY & CO., 727 FIFTH AVENUE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Vice President
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10022
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock $.01 par 5,606 (1)
D
 
Common Stock $.01 par 425
I
BY ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/14/1999(3) 01/14/2009 COMMON STOCK $.01 PAR 4,000 $ 9.4844 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/21/2000(3) 01/21/2009 COMMON STOCK $.01 PAR 4,000 $ 14.9766 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/20/2001(3) 01/20/2010 COMMON STOCK $.01 PAR 6,000 $ 42.0782 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/18/2002(3) 01/18/2011 COMMON STOCK $.01 PAR 5,000 $ 32.47 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/16/2003(3) 01/16/2012 COMMON STOCK $.01 PAR 7,000 $ 34.02 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/16/2004(3) 01/16/2013 COMMON STOCK $.01 PAR 7,000 $ 25.845 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/15/2005(3) 01/15/2014 COMMON STOCK $.01 PAR 7,000 $ 39.75 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 09/16/2005(3) 09/16/2014 COMMON STOCK $.01 PAR 10,000 $ 32.245 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/20/2006(3) 01/20/2015 COMMON STOCK $.01 PAR 5,920 $ 31.675 D  
NON-QUALIFIED STOCK OPTION (RIGHT TO BUY) (2) 01/18/2008(3) 01/20/2018 COMMON STOCK $.01 PAR 8,000 $ 40.15 D  
PERFORMANCE-BASED RESTRICTED STOCK UNIT   (1)(4)   (4) COMMON STOCK $.01 PAR 7,000 $ (1) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Cloud Pamela H
TIFFANY & CO.
727 FIFTH AVENUE
NEW YORK, NY 10022
      Senior Vice President  

Signatures

/s/ Patrick B. Dorsey, Attorney-in-Fact 01/23/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 4,617 shares in the total are shares underlying RSUs.
(2) Options Granted under 16(b)(3) Employee Stock Option Plan.
(3) Options become exercisable in four equal installments. Date represents date on which first installment becomes/became exercisable. Three remaining installments of 25% each become exercisable on subsequent anniversaries of the grant date.
(4) All or a percentage of the units will be converted to common stock if issuer satisfies financial performance criteria for the three-year performance period ending January 18, 2010. Performance-based restricted stock units not eligible for conversion at the end of the performance period will be canceled.

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