Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Tiffany Sues Costco Over Counterfeit Diamond Rings

Details

  • Description

    FBN's Lauren Simonetti breaks down details of the Tiffany vs. Costco case.

  • Duration 2:18
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Today this is another red -- this story earlier -- -- kind of strange to see these two companies mentioned together.

In a lawsuit but doesn't Tiffany engagement ring from Costco sound too good to be true.

The out luxury good jewelry retailer says yes it is too good to be sure the go to court to defend the reputation Lawrence -- -- looking into the story for us and joins us now what's going on here.

Hi Connell well it's the blue box vs the big box Tiffany suing costs go for selling fake Tiffany diamond engagement rings alleging trademark infringement counter fitting.

And injury to their business reputation so this started last year when a woman in California alerted Tiffany -- -- Tiffany diamond signs seen in her local costs go.

An investigation was launched -- out Tiffany not only ceiling but it also wants -- go to stop selling the state -- using its name.

Forfeit profits from the sale and pay damages of two million dollars per infringement.

Tiffany's council says in his statement quote we know.

That there are at least hundreds if not thousands of costs -- members who dink -- -- a Tiffany engage during at Costco which they did it so.

-- you know if it Tiffany diamond is.

Tiffany diamond while it's inscribed it will typically have about nine characters both numbers and letters in this don't.

And also really honestly use plain old common sense and -- he tells me they're dining these hearings are sold only in their stores buying Tiffany's sales people and I put this quote up on the screen because.

It's a simple it's funny.

If one thinks a deal is too good to be true through another seller it probably it is and the item is likely counterfeit.

And by the way a one carry it Tiffany setting diamond engagement ring.

-- platinum begins act guess -- take -- guess.

-- -- 8000 dollars 111000 dollars for.

The one parent that's one pack that is so I was critical -- but the thing it's somebody guys watching get.

Get away with this to get the blue box the whole -- -- -- this threat would -- us.

At David's Bridal did a survey for Valentine's Day and they said that more than half the women said that they would change their rain and the biggest reason why would be for a bigger sound.

Yes so if you're dropping eleven G on -- one -- don't I don't care if it's Tiffany you're probably getting in trouble they don't.

Good insights from you Lauren I was kind of thing hello out there to help me out now.

Load More