I would like to point out that REAL Tiffany & Co. jewellery comes in both the 'draw-string pouch' AND the 'square envelope style pouch'.
I bought my Tiffany & Co. Heart Tag Charm necklace and bracelet from the Tiffany & Co. store in Harrods, Knightsbridge, London. When I bought them, each came with a draw-string pouch.
The clasp on my Tiffany & Co. Heart Tag Charm bracelet broke (after a number of years). So I returned it to the store in Harrods to be fixed. Once the clasp was repaired I went to collect my bracelet and it was returned to me in a 'square envelope style pouch'.
These pouches are the classic Tiffany & Co. aqua/blue colour and are made from a soft leathery/suede material and are the aqua/blue colour inside and out. Inside both the 'draw-string pouch' and the 'square envelope style pouch' there is a divider. The pouches are divided into two sections inside. Both styles have 'Tiffany & Co.' printed on the outside.
I have written this guide to point out that Tiffany & Co. jewellery is sold and/or repaired in both the 'draw-string pouch' and the 'square envelope style pouch'.