• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Exclusive

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

Retailcounterfeit goods

Costco Now Has to Pay $8.25 Million in Punitive Damages for Selling Fake Tiffany Rings

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
October 5, 2016, 5:44 PM ET
Customers carry Tiffany & Co. shopping bags outside the company's flagship store in New York.
Photograph by Bloomberg — Bloomberg via Getty Images

A New York civil jury on Wednesday ordered Costco Warehouse (COST) to pay Tiffany & Co (TIF) $8.25 million in punitive damages for selling engagement rings with the “Tiffany” name on them just days after the bulk retailer was ordered to pay $5.5 million in compensatory damages.

Tiffany had sued Costco on Valentine’s Day in 2013, accusing its rival of selling inferior imitation rings. Last week, the jury awarded Tiffany $5.5 million in compensatory damages for Costco’ profits going back to 2007.

At issue in the Tiffany-Costco dispute was the sale of a mere 2,500 rings, net of those customers returned (Costco offered refunds), worth about only $10 million. But the real reason Tiffany has gone all out in this case has been to to defend what it calls its biggest asset: the value and cachet of its brand. That’s crucial for its engagement jewelry, a category that generates 30% of Tiffany’s company sales. The company holds 97 trademarks linked to its name, the first being used all the way back in 1868.

“The award validates the strength of the Tiffany trademark, the value of our brand, and most importantly, sends a clear and powerful message to Costco and others who infringe the Tiffany mark,” said Leigh Harlan, Tiffany’s general counsel. “It is critically important that the Tiffany name not be used to sell any engagement ring that is not its own.” Costco did not immediately return a request for comment.

In December 2012, a woman in California complained to Tiffany that she was disappointed to see Costco selling Tiffany diamond engagement rings. After looking into the matter, Tiffany found rings in a display case at the Huntington Beach Costco labeled with the word “Tiffany” and discovered that a salesperson at the store there referred to them as such.

Though Costco has argued that “Tiffany” is a generic term for a type of setting, citing among other things an entry in Webster’s New World dictionary, a U.S. District Court in Manhattan last year found that Costco knowingly infringed on Tiffany’s intellectual property.

Costco can still appeal the awards, and a judge could modify them.

The battle comes as discount chains like Costco and Wal-Mart Stores’ Sam’s Club claim a growing share of the U.S. fine jewelry market. Indeed, Costco is no slouch in the gem world: its engagement rings go for as much as $27,000, and it once even listed a $1 million 6.5-karat ring on its website. Meanwhile, Tiffany’s U.S. sales are feeling a pinch from lower spending by tourists.

About the Author
Phil Wahba
By Phil WahbaSenior Writer
LinkedIn iconTwitter icon

Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

See full bioRight Arrow Button Icon

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

‘This is what the consumer wants’: A new lawsuit about PFAS and other ‘forever chemicals’ is heating up the cookware industry
Big TechLawsuit
‘This is what the consumer wants’: A new lawsuit about PFAS and other ‘forever chemicals’ is heating up the cookware industry
By Catherina GioinoMay 19, 2026
2 hours ago
andic
LawBillionaires
Spanish police arrest son of retail billionaire who fell off a cliff and died. He was the only witness
By The Associated PressMay 19, 2026
5 hours ago
How Coach became Gen Z’s favorite affordable luxury handbag brand
RetailFortune 500
How Coach became Gen Z’s favorite affordable luxury handbag brand
By Phil WahbaMay 19, 2026
10 hours ago
delivery
Retailecommerce
Walmart’s upper hand over Amazon in the $1 trillion e-commerce race: 90% of Americans live within 10 miles of a superstore
By Anne D'Innocenzio and The Associated PressMay 16, 2026
3 days ago
gamestop
RetailM&A
‘Neither credible or attractive’: eBay slaps down GameStop’s $56 billion takeover bid
By Michelle Chapman and The Associated PressMay 12, 2026
7 days ago
amazon
RetailAmazon
Amazon’s promise of 30-minute delivery collides with memories of Domino’s drivers crashing in the late 1980s
By Anne D'Innocenzio and The Associated PressMay 12, 2026
7 days ago

Most Popular

While Trump insisted the Iran war would end ‘soon,’ an account in his name was buying millions in oil, defense and gold
Economy
While Trump insisted the Iran war would end ‘soon,’ an account in his name was buying millions in oil, defense and gold
By Eva RoytburgMay 18, 2026
23 hours ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
7 days ago
Current price of oil as of May 18, 2026
Personal Finance
Current price of oil as of May 18, 2026
By Joseph HostetlerMay 18, 2026
1 day ago
EXCLUSIVE: An hour in the Oval Office with the CEO-in-Chief, President Trump
Politics
EXCLUSIVE: An hour in the Oval Office with the CEO-in-Chief, President Trump
By Alyson ShontellMay 18, 2026
1 day ago
Current price of silver as of Monday, May 18, 2026
Personal Finance
Current price of silver as of Monday, May 18, 2026
By Joseph HostetlerMay 18, 2026
1 day ago
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
Travel & Leisure
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
By Rio Yamat and The Associated PressMay 18, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.