In 2013, Tiffany filed a complaint against Costco in U.S. District Court in New York, saying a Costco customer informed the company that Costco was selling “Tiffany” rings.
The complaint reads, “Unbeknownst to Tiffany, Costco had apparently bee selling different styles of rings for many years that it has falsely identified on in-store signage as ‘Tiffany.”
The complaint added, “There are now hundreds if not thousands of people who mistakenly believe they purchased and own a Tiffany engagement ring from Costco.”
Costco contends it was using ‘Tiffany” as a generic term in describing a ring’s setting.
Yesterday, U.S. District Judge Laura Taylor Swain ruled that Tiffany is entitled to $11.1 million (triple the loss incurred from Costco’s actions), plus interest, and $8.25 mil in punitive damages.
The only way Costco may now use the word “Tiffany”, if it’s followed by “setting”, “set” or “style.”
Buying in bulk, and now paying in bulk.
Write the check, Costco!