MajorsMar 24, 2021
The Tiffany v. Costco Battle Wages On MajorsJul 21, 2021
Tiffany, Costco Settle Long-Standing Lawsuit
The contentious battle over the term “Tiffany Setting” has come to a close via a settlement.
Tiffany & Co. reached a settlement agreement with Costco following a years-long trademark infringement lawsuit. (Image courtesy of Tiffany & Co.)
New York—The contentious, 8-year-long legal battle between Tiffany & Co. and Costco Wholesale Corp. has come to an anticlimactic end.
The companies have reached a settlement, the terms of which have not been disclosed, and the case has been dismissed with prejudice, meaning Tiffany cannot sue Costco again on the same grounds.
In a statement to National Jeweler, a lawyer representing Costco said the parties have “amicably resolved their dispute.”
Tiffany declined to comment.
The saga began Valentine’s Day of 2013 when Tiffany took Costco to court, suing the big-box retailer in New York federal court for trademark infringement, counterfeiting and unfair business practices for selling “Tiffany” rings that were not made by Tiffany.
An estimated 3,349 customers bought “Tiffany” rings at Costco during the period covered by the lawsuit, according to court documents.
Related stories will be right here …
The companies have reached a settlement, the terms of which have not been disclosed, and the case has been dismissed with prejudice, meaning Tiffany cannot sue Costco again on the same grounds.
In a statement to National Jeweler, a lawyer representing Costco said the parties have “amicably resolved their dispute.”
Tiffany declined to comment.
The saga began Valentine’s Day of 2013 when Tiffany took Costco to court, suing the big-box retailer in New York federal court for trademark infringement, counterfeiting and unfair business practices for selling “Tiffany” rings that were not made by Tiffany.
An estimated 3,349 customers bought “Tiffany” rings at Costco during the period covered by the lawsuit, according to court documents.
In a countersuit, Costco said the term “Tiffany” setting had become genericized and could be used by any company to mean a ring with multiple, slender prongs holding a single stone.
In 2015, a federal judge ruled in Tiffany’s favor and granted the jeweler’s motion for summary judgment (a judgment entered by the court without a full trial) in the case.
A jury ordered Costco to pay Tiffany $5.5 million for unlawful profits, including $3.7 million in direct profits and $1.8 million in additional benefits from the ring sales, and $8.25 million in punitive damages.
The judge trebled the $3.7 million to $11 million, for grand total of $21 million Costco was to pay Tiffany.
In August 2020, the Second Circuit Court of Appeals vacated the summary judgment on appeal from Costco.
A unanimous ruling found that if a jury had heard the case, jurors likely wouldn’t be confused by Costco’s use of the word “Tiffany” or believe the rings were made or endorsed by Tiffany & Co.
The appeals court sent the case back down to the district court to hash out the issues of punitive damages and a jury.
The case dragged on, with Costco filing a motion to prevent a jury trial and stop Tiffany from seeking punitive damages, which Tiffany disputed based on prior court rulings.
An in-person trial was possible for July, but a settlement remained on the table, as per court documents. The companies had discussed one prior to going to trial in 2016.
Tiffany v. Costco was filed in the U.S. District Court for the Southern District of New York.
Editors' Picks
Sponsored by
More on Majors
The Latest
Lab-GrownNov 10, 2026
GIA Examines Pink Lab-Grown Diamond Made to Look NaturalThe 6-carat CVD-grown pink diamond was “deliberately modified” to mimic the appearance of a natural rough diamond, the lab said.
SourcingNov 10, 2026
Botswana in Line to Take Controlling Stake in De Beers, President Says If the Global Diamond Consortium emerges as the top bidder for De Beers, Botswana’s stake will double to 30 percent, Duma Boko said Monday.
ColumnistsNov 10, 2026
Who Checks the Facts When AI Writes Your Jewelry Copy?An incorrect AI-generated ad or product description can cost your store valuable consumer trust.
Brought to you by
DSF Antique Jewelry: Fine Jewelry, Signed Designers, and a World of Rare DiscoveriesWith over 50 years experience in the trade, DSF Antique Jewelry offers quality, craftsmanship, condition, and remarkable variety.
Events & AwardsNov 09, 2026
Here Are the 2027 Gem Award NomineesThese nine individuals and brands are up for a Gem Award in the Jewelry Design, Media Excellence, and Retail Innovation categories.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeNov 09, 2026
Jeweler Pistol-Whipped, $900K in Jewelry Stolen During Home Invasion The incident, which happened in Miami-Dade County, serves as a reminder to jewelers of the dangers of selling and storing jewelry at home.
GradingNov 09, 2026
GIA Acquires Thousands of Gem Specimens With ‘Extraordinary’ InclusionsGIA Analytical Microscopist John Koivula curated the collection of 2,665 crystals, gems, and minerals over a 60-year span.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
CollectionsNov 09, 2026
Bibi van der Velden’s Alligators Become High JewelryThe “Eclipse” collection, the brand’s first high jewelry line, centers its alligator motif in diamond and spinel jewels.
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
