In August 14th, Laura Taylor Swain, a regional judge in the United States, ruled that Tiffany has the right to pay $11 million for two times the profit of Costco (good city), which is three times the loss of Costco. In addition, there are 8 million 250 thousand dollars in punitive damages.
Tiffany said in a statement that the judge’s decision proved the strength of the Tiffany brand and the value of the brand, and most importantly, a clear message of warning was delivered to the Costco and other people who violated the Tiffany trademark. ”
Tiffany added: “we filed a lawsuit to protect the interests of customers who buy Tiffany jewelry. More importantly, let the public know that no one can use Tiffany illegally to sell counterfeit products.
Tiffany’s chief lawyer, Jeffrey Mitchell, said: “defending Tiffany’s brand value and rights is a tough and protracted war.”
But Costco made a statement that it would appeal, and Costco said, “this is not a case related to the manufacture of counterfeit products, and Costco does not sell fake Tiffany rings.”
In 2013, Tiffany brought a lawsuit to Costco for the first time in New York’s local court, saying it had learned from clients that Costco was selling “Tiffany” rings, and the Tiffany complainant said, “we don’t know that Costco has been using the” Tiffany “logo to mislead different styles of rings for many years.”