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BEIJING, Sept. 10 (Xinhuanet) -- U.S. warehouse club chain Costco Wholesale knowingly infringed on the trademark held by Tiffany & Co when it sold counterfeit diamond engagement rings, a U.S. federal court ruled lately.
Costco claimed in a countersuit that "Tiffany" is a generic term for a pronged ring but the court rejected this argument.
The famous U.S. jeweler Tiffany filed the lawsuit on Valentine's Day in February 2013, saying it believed hundreds, if not thousands, of Costco members bought engagement rings they wrongly believed were authentic Tiffany products.
Under the ruling, Tiffany may now take Costco before a jury to seek damages, including a recovery of Costco's profits from the sale of the diamond rings and punitive damages.
(Agencies)
