I read this article about Tiffany & Co. filing suit against Costco because apparently the retailer has been selling engagement rings wrongly labeled as Tiffany's. Apparently Costco has been doing this for years and there may well be thousands of Costco members that are thinking they made a great purchase of a Tiffany ring when they didn't. Oh man where do I begin with this?
It's completely different finding a designer irregular shirt or something from last season at Costco than finding a ring from a company known to be exclusive with its products. Assuming that you could find a Tiffany's engagement ring at a Costco is almost like assuming you could find a Cartier ring at a flea market. Costco does carry jewelry and from time to time they will carry impressive pieces or very good brands. The truth of the matter is that most of the time what Costco carries as far as jewelry is something that you can get on the internet with relative ease. I do wonder about a few things though.
If Costco has been doing this for years, how come someone just now noticed? More than one person must have known about the exclusive nature of Tiffany's engagement rings. Is it possible that Tiffany's was supplying Costco with pieces that didn't move in order minimize losses? A lot of companies strike deals behind closed doors and in confidentiality. Tiffany's could have easily been supplying merchandise to a few stores which is not a big enough deal to make the front page of the financial pages of any publication.
Tiffany's is making a major accusation and it's obvious that they feel they have a big case against Costco. I just don't understand how a major retailer would knowingly engage in selling counterfeit merchandise. This isn't some small timer selling fake Coach purses in China Town or a lady selling Louis Vuitton imitations on the side of the road. The more I think about it the more I wonder if this isn't a sort of ploy to get more people to shop at Tiffany's and more members to look at Costco's jewelry cases.
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