Hellmut Wempe established his first shop abroad, on Fifth Avenue in New York City, in 1980. This was a milestone for the company despite the worst recession since the end of World War II. The price of gold had risen by 150 percent, and the city that is home to Tiffany’s had no need for a new jeweller from Germany. Hellmut Wempe knew about the market very well and his expansion into the US was purely strategic; he had enough patience to be in it for the long run.