The independent jeweler first opened its doors in 1888.
Costco Ordered to Pay $8M More in Tiffany Suit
The jury awarded the jeweler $8.25 million in punitive damages, though the total amount Costco will pay is ultimately up to the judge.
New York--Tiffany & Co. won $8.25 million in punitive damages in its case against Costco Wholesale Corp., which it sued back in 2013 after learning the wholesale club was selling rings labeled as “Tiffany” that were not made by Tiffany & Co.
A New York federal jury handed down the punitive damages portion of the verdict Tuesday, piling on to the $5.5 million in unlawful profits they ordered Costco to pay last week.
That potentially brings the total bill in the case for Costco to $13.75 million, though the judge has the final say on the jury’s verdicts.
Costco declined to comment on the outcome of the case, stating that “Because the jury’s verdicts will be subject to further consideration by the court, further comment is not appropriate at this time.”
Tiffany, meanwhile, shared this statement, attributed to Senior Vice President and General Counsel Leigh M. Harlan, “The award validates the strength of the Tiffany trademark, the value of our brand, and most importantly, sends a clear and powerful message to Costco and others who infringe the Tiffany mark.”
“Tiffany is much more than a name. It stands for responsible sourcing, exacting standards and exceptional craftsmanship. We felt a responsibility to protect the value of our customers’ purchases and to ensure that Costco‘s customers were not mislead about their purchases. It is critically important that the Tiffany name not be used to sell any engagement ring that is not its own.”
National Jeweler will follow up next week with an analysis column by Chicago-based intellectual property attorney Emily Miao, the same attorney who commented on the case when part one of the verdict came in late last week.
The Latest

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.


Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

The company also noted record sales in the United States and a strong performance in its jewelry category.