If you ever went to Costco and fell in love with some of the jewelry they have for sale, especially the engagement rings that they used to promote as the “Tiffany” brand, because obviously, who does not want to have a jewel of this prestigious company ?, I tell you that although the employees of said establishment have offered or sold you a ring claiming that it was from the prestigious jewelry store, in reality they told you a lie. It turns out that for years Costco has been selling engagement rings that supposedly belonged to that store and for that reason now it will have to pay several million.
A federal judge ruled in favor of Tiffany & Co., requiring Costco to pay the amount of the romiso they were "Tiffany" and when customers noticed and tried to return the merchandise, they were ignored.
In a statement Costco says that "Tiffany" is a common name to describe the style of a ring and that they were never shown in the famous turquoise box, much less with the name. The company plans to appeal the decision.
The lawsuit, which was filed in 2013, also prohibits Costco from using Tiffany's name to describe or name the engagement rings they have for sale.
If you bought or gave a Costco ring thinking it was from Tiffany, don't be discouraged, the important thing is the gesture, right?