Ring row sees Costco pay $8.2 million to Tiffany
While at The Trademarkoom we always promote unique and distinguishable businesses, many still think a good way of making money is to ride on the coattails of a famous brand.
And that is just what Costco have done, and they have certainly paid the price for it.
Tiffany, the famous luxury jewellery brand, made a claim against the wholesalers alleging they had been producing rings with the Tiffany trade marks on and selling them at a low price to attract customers.
Tiffany claimed that this caused confusion amongst customers who though the low priced low-quality products had originated from Tiffany themselves.
It seems the judge agreed with the claim as Costco has been ordered to pay $8.2 million for unlawfully using Tiffany’s trade marks on rings. An injunction has also been granted preventing Costco from using the marks again.
It seems that there is more bad news for Costco who could have to cough up another $3.7 million to account for the profits made on the counterfeit products.
The battle is not over yet, as Costco are still denying wrongdoing and intend to appeal against the decision. This may be one to watch, Costco may have to pay a hefty price for trying to use another brand to draw customers in.
For more information on how you can protect your brand, contact The Trademarkroom team today.
By Ellis Sweetenham