Sponsored by Tasha R
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
Three Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
Cynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
The auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
The four finalists will present their pieces at the 2025 JCK Las Vegas show.
This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
The “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
The money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
The event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
Local reports identified the woman as the wife of the jewelry store owner.
A collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
The Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
Hampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
The group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
The collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
This year’s theme asks designers to take inspiration from classic fairy tales.
Senior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
The latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
No. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
Sotheby’s sold the necklace, which potentially has ties to Marie-Antoinette, for $4.8 million to a woman bidding via phone.
Instead of its usual elaborate display, the store will illuminate its façade and frame the windows to highlight its flagship’s architecture.
The new Grand Seiko boutique is located in Honolulu’s Waikiki neighborhood.
Eleven spots are available for travelers to visit Northern Tanzania and Southern Kenya from July 25 to Aug. 4.