Tiffany lawsuit shines light on Costco diamonds
NEW YORK — Jewelry maker Tiffany & Co. is suing Costco Wholesale, alleging that the club retailer falsely marketed diamond engagement rings as coming from the New York-based jeweler, according to published reports.
News media reported that Tiffany filed suit against Issaquah, Wash.-based Costco in the Federal District Court in Manhattan.
Tiffany said in its lawsuit that it found Costco salespeople sold rings as Tiffany in the stores, but not online, but that the jeweler had never sold its jewelry through the retailer, though Costco does sell jewelry from other high-end suppliers such as Cartier.
According to reports, Costco had not commented on the matter at press time.
Costco does make a point on its website to emphasize the quality and integrity of its diamonds including the fact that they are nearly flawless and conflict free.