Connect with us

Headlines

Tiffany, Costco Settle 8-Year Lawsuit Over Counterfeit Rings

Resolution reached after jewelry maker’s $21 million judgment was thrown out by appeals court

mm

Published

on

Tiffany & Co. and Costco have settled a long-running dispute in which the fine jewelry maker sued the warehouse chain and accused it of selling generic diamond engagement rings bearing the “Tiffany” name, Yahoo Finance reports.

The settlement comes after a New York appeals court threw out a $21 million judgment that Tiffany won in 2017 following a jury trial. The court ruled that Costco was acting in good faith and that customers were smart enough to realize Tiffany didn’t make the retailer’s “Tiffany” rings.

The suit, which alleged trademark infringement and counterfeiting, was initially filed on Valentine’s Day of 2013 and has now been “amicably resolved,” a Costco lawyer told the outlet. Settlement terms were not disclosed.

Read more at Yahoo Finance.

Drawing on more than 120 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

Advertisement

SPONSORED VIDEO

Embracing Whole-Brained Thinking in the Design Journey

Strategy needs creative, and creative needs strategy—yep, having both is really the only way of unifying all disciplines with a common vernacular with an eye toward building a strong creative vision that is foundational to the processes. Hear from Bevan Bloemendaal, former VP, Global Environments & Creative Services at Timberland, how to connect the dots between disciplines, claiming and creating a clear differentiation for the brand and ensuring that any asset (experience, product, ad, store, office, home, video, game) is created with intention.

Promoted Headlines

Advertisement
Advertisement

Subscribe

Advertisement

Facebook

Most Popular