EASTSIDER WALTER HOVING
Chairman of Tiffany & Company
12-22-79
When Walter Hoving took over as chairman of Tiffany and Company in 1955, he gave his designers one simple rule: "Design what you think is beautiful and don't worry about selling it." The rule applies as much to store's eye-catching Christmas display windows as to the three floors of jewelry, silver, china, and crystal at the corner of 5th Avenue and 57th Street. Hoving's unique combination of business wizardry and impeccable taste has paid off dramatically: since he joined the company, Tiffany's annual sales haver gone from $7 million to $73 million.
A tall, soft-spoken, former Brown University football star whose unlined forehead and vigorous appearance belie his 82 years, Hoving has a voice like Jimmy Stewart's and kindly yet authoritative manner. On his conservative gray suit is a tiny silver pin with the words "Try God." Leaning back in the comfortable desk chair at his vast, teakwood-paneled office at Tiffany's on a recent afternoon, he answers all questions thoroughly and unhesitatingly.
"We don't think in terms of price at all. Whatever we sell has got to be up to our standard in quality material, quality workmanship, and quality of design. … You see, you've got to have a point of view in this thing. That's all we've got is a point of view, and we stick to it."
What he calls a "point of view" others would simply define as "taste." And Hoving is well qualified to have strong opinions in this area. At the age of 30, three years after joining R.H. Macy and Company, he was already a vice president and merchandising director. At that point, says Hoving, "I realized that design was going to be a coming thing, and I really didn't know much about it. So I matriculated at New York University in their arts department, and I took courses on period furniture, old silver, historic textiles, color and design. It took me three years, twice a week at night. … Then, of course, I could learn by going into people's homes that were beautiful, in England and France, at museums — wherever I was. You learn if you have a basis. And so I advise anybody who comes into this business to get knowledgeable about decorative arts."
After leaving Macy's, he climbed steadily, becoming vice president of Montgomery Ward, president of Lord & Taylor, and president of Bonwit Teller. Upon arriving at Tiffany's, one of the first things he did was to discontinue selling anything that didn't conform to his esthetic standards, regardless of profit.
The current 180-page catalogue lists almost 100 items under $25, along with such unabashed luxuries as a porcelain dessert service for six priced at $4,200 and an unpriced "seashell" necklace of 18-carat gold with diamonds set in platinum. Tiffany's carries no synthetic gems because, according to Hoving, "everything here is real," and no men's diamond rings because "we think they're vulgar." He adds: "I dropped antique silver. I saw no reason why Tiffany should carry it. You can get antiques anyplace. Our job is to make antiques for the future."
Since 1963, Tiffany has opened branch stores in five other cities. Several floors in the Fifth Avenue headquarters house artists, engravers, clockmakers and jewelry craftsmen. There is also a Tiffany factory in New Jersey.
The author of two best-selling books, Your Career in Business and Tiffany's Table Manners for Teenagers, Hoving is a deeply religious man who has long been actively involved in charitable work. He is a co founder of the Salvation Army Association of New York, and gives his time to the United Negro College Fund, the United Service Organizations, and, most recently, a home for heroin-addicted girls in Garrison, New York, which has been named in his honor.
When a friend at St. Bartholomew's Church asked Hoving to make her a pin reading "Try God," he got the idea of selling the pin at Tiffany's and giving the proceeds to the Walter Hoving Home. So far, 600,000 have been sold.
Jane Pickens Hoving, his wife since 1977, is the founder and chairman of an organization known as Tune in New York, which matches volunteers to jobs best suited for their talents and interests. It is about to open a headquarters at 730 Fifth Avenue, across from Tiffany's.
His son Thomas Hoving served as commissioner of parks for New York
City and for many years was director of the Metropolitan Museum of Art.
He recently wrote a book on Tutankhamen and has another book in the
works.
An Eastsider for over 50 years, Walter Hoving walks more than three miles a day between his home and office. He frequently mixes with customers in the store, and one of his favorite anecdotes is about the time he spoke with a woman who was registering her daughter for wedding presents. "The woman said that she and her husband wanted everything to come from Tiffany's because they were sure if it was from Tiffany's it would be all right," relates Hoving. "I said, 'What does your husband do?' She said, 'He is a letter carrier.' Well, I felt better than if I had sold Mrs. Astorbilt a million-dollar diamond ring."