Costco Says 'Tiffany' Is Just a Ring Setting

In February, Tiffany & Co. sued Costco for selling relatively cheap "Tiffany" engagement rings ($48,999.99 for 2.5 carats), which the jewelry company alleges are obvious knockoffs of their fancier products (which are "priced from $53,000.") On Friday, Costco counter-sued with the claim that "Tiffany" is a merely a generic name for a solitaire ring setting in which "a single gemstone is mounted on multiple, slender prongs." During Friday arguments in a Manhattan court, Costco's lawyer, James Dabney, also pointed out that the wholesaler's "unbranded" pieces come in "plain beige outer gift boxes," which means that no one could possibly mistake them for the real thing.

Via: Costco Says 'Tiffany' Is Just a Ring Setting