Luxury jeweller Tiffany has filed a multi-million dollar lawsuit
against Costco - for selling what it claims to be bargain-priced
imitation engagement rings bearing the iconic name.
The suit was filed in the United States District Court in Manhattan,
claiming Costco violated counterfeiting laws by selling the fake
rings.
Tiffany is seeking to establish the exact number of counterfeit
rings Costco sold and the source of the jewellery and damages,
according to the Wall Street Journal.
One of the rings was determined counterfeit as the stone lacked the
microscopic laser inscription Tiffany uses to sign its diamonds.
According to the lawsuit Costco had been selling the counterfeit
rings for ‘many years’.
‘When we discovered it was not a one-time rogue event at one store,
we knew we had a big problem that had to be dealt with,’ Tiffany’s
lawyer, Jeffrey Mitchell told the Wall Street Journal.
Some questions I have
How did Tiffany find out the rings were fake?
Why would Tiffany sell to Costco?
If Tiffany sold to Costco what does that say about high end
jewellery?
How long did it take Tiffany to work out that Costco was selling
fakes?
Will this bring a class action lawsuit by purchasers?
Was it made in China as is so much fake Tiffany jewellery?
Why do people knowingly buy fake name brands?
Don’t they know it is crap and will not wear like the original?
Richard
How did Tiffany find out the rings were fake? Richard, I saw a TV
news story on this issue. They said that someone who had purchased
one of the Cosco rings brought it to Tiffany’s. They did not say if
it was brought in for repair, polishing or appraisal.
Debby
Why do people knowingly buy fake name brands? Don't they know it is
crap and will not wear like the original?
I can answer this one.
I saw a documentary about the rife bootlegging going on in China.
All of the band name stuff is made in China anyway, the knock-offs
are coming out of the legit factories, so there is no physical
difference between the products. (Jewellery may be different).
The main difference is that the knock-offs (that aren’t really
knock-offs), cost a lot less.
I don’t condone the practice, but companies like Reebok etc. when
questioned about it are silent, if they piss of the Chinese
factories, they have to make their products themselves.
Regards Charles A.
Details are scarce on this. From what I understand there was never
any corporate literature or corporate printed advertisements for
Tiffany at any Costco. (please correct me if I’m wrong.). The entire
case is built upon afew individual stores, (or the single one in
California where a person in the jewelry business happen to see a
hand made sign or sign that was printed by uninformed employees of
that individual store who used the Tiffany name to mention the style.
Definitely illegal for that store to use the name butI don’t
understand how every Costco in the country can be sued for a billion
dollars. Perhaps I have not heard enough of the facts.
Rick Powell
How did Tiffany find out the rings were fake?
According to Costco, they never claimed the rings were Tiffany, but
did advertise them as having “Tiffany settings"or"Tiffany mounts.” As
all you jewelers know, this is a common description for prong
mounting, as opposed to the old bezel mounts used before 1886. I
wonder if Tiffany will have more success in their lawsuit than Xerox
did in the same situation. Popular brand names often become generic.
“Make a xerox copy”, or “hand me a kleenex.”
Al Balmer
Pine City, NY