That Ring May Not Be What You Thought it Was
I thought this story was funny when I hear Steve & Meg talking about it this morning on The Steve Shannon Morning Show.
CNN claims Costco owes Tiffany & Co $19 million for selling counterfeit Tiffany's rings. Tiffany's says thousands of people purchased rings from Costco that aren't made by their company. Costco says the term 'Tiffany' is generic and used to describe the ring's setting.
Tiffany's won their lawsuit against Costco before releasing the following statement: The decision validates the strength of the Tiffany trademark and the value of our brand, and most importantly, sends a clear and powerful message to Costco and others who infringe the Tiffany mark. We brought this case because we felt a responsibility to protect the value of our customers' purchases," the company added. "It is critically important that the Tiffany name not be used to sell any engagement ring that is not our own."
Costco plans to appeal. They said; "This was not a case about counterfeiting in the common understanding of that word -- Costco was not selling imitation Tiffany & Co. rings.''
As Steve & Meg said, is it more embarrassing to admit the jewelry you bought is not from Tiffany or that you got it at Costco?