Tiffany & Co. is suing Costco for selling rings labeled “Tiffany” rings that are not the genuine item.
The report also indicated that the plaintiff claims that the world’s largest private buying club has been engaged in the practice for years. Tiffany’s legal counsel expressed its concerns about the lawsuit in a report by the Philadelphia Inquirer.
"We now know that there are at least hundreds if not thousands of Costco members who think they bought a Tiffany engagement ring at Costco, which they didn't," Jeffrey Mitchell, Tiffany's counsel in the case, said in a statement. "Costco knew what it was doing when it used the Tiffany trademark to sell rings that had nothing to do with Tiffany.