Looks like the megastore, Costco, got caught selling fake engagement rings to customers who thought they were real Tiffany & Co. jewels! Mmmohmygawdd..!
Welp Tiffany’s is now suing Costco because they believe “hundreds, if not thousands, of Costco members bought engagement rings they wrongly believed were authentic Tiffany products.”
Don’t know who to be mad at more Costco for stealing the name or people really thinking Tiffany rings would be sold at Costco?
But anyways, TMZ reports that they “infringed Tiffany’s trademarks by selling engagement rings” and apparently “confused” customers by using “Tiffany” in their display cases.
Costo was claiming that they were using the word “Tiffany” as a generic description of a ring setting so the official trademarks are invalid and shouldn’t prevent others from using “Tiffany”; but a Manhattan federal court Judge wasn’t buying it.
Judge Laura Taylor Swain said, “Despite Costco’s arguments to the contrary, the court finds that, based on the record evidence, no rational finder of fact could conclude that Costco acted in good faith in adopting the Tiffany mark.”
Fortunately for the jewelry company, the judge’s ruling is allowing them to take Costco before a jury and seek damages which can potentially include the profits from Costco’s diamond ring sales and punitive damages.
Although the original lawsuit was filed back in February of 2013, they aren’t set to appear in court until Oct. 30.
Representatives for Costco have yet to respond.
Source: NY Post, http://nypost.com/2015/
TSR intern: Chantel P. Instagram: @_POPchanny | Twitter: @POPchanny
