Costco (COST) Sells Tiffany Rings? No, Says Tiffany (TIF) in New Lawsuit

February 15, 2013 8:55 AM EST
So, you're shopping through your local Costco Wholesale (Nasdaq: COST) supercenter one afternoon, looking for a hilariously oversized tub of mayonnaise or a good deal on a dozen softball-sized muffins, when you come across something unusual.

When did Tiffany & Co. (NYSE: TIF) start selling its wares at Costco?

According to a lawsuit filed Thursday, Tiffany didn't. Though Costco is approved to sell genuine items from the likes of Chanel, Movado, Cartier, and others, Tiffany never entered into such a deal.

The complaint alleges that Costco had been selling different styles of rings for many years, with in-store signs falsifying some as "Tiffany" brand. Tiffany alleges that sales of the discounted rings "unlawfully trade off Tiffany’s goodwill and brand awareness."

Tiffany is seeking to halt further sales as well as further damages from Costco, though specific numbers weren't mentioned.

Costco operates about 617 warehouse stores globally according to data in its most recently filing. Shares are flat in early trading.

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