Wednesday, August 16, 2017
Dumb
One wonders how a sophisticated company like Costco can make a dumb mistake like this. Surely the company knew it was misappropriating Tiffany's name and brand for the diamond rings it was selling. Its defense in court was lame, and the judge imposed a fine of more than $19 million on the company. The fine hurts but not as much as the ding to Costco's reputation. One can ask what other products has Costco mislabeled. If it was "cavalier" with Tiffany, why not with others as well? Surely this wasn't the only instance of brand theft. Costco has a task now of auditing its products and making sure its marketing of them is honest. If not, look for more lawsuits against the company, which it will have trouble defending.
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