The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
Appeals Court Reverses $21M Judgment Against Costco in Tiffany Case
The closely followed trademark case over use of the “Tiffany” name is going back to the district court for a trial by jury.

Tiffany & Co. sued Costco in early 2013 for selling rings in its stores with signs that read “Tiffany” that were not made by Tiffany & Co.
Costco argued in a countersuit that “Tiffany” had become a generic term that could be used by any company to describe a particular style of ring setting (multiple slender prongs holding a single stone).
In 2015, the U.S. District Court for the Southern District of New York granted Tiffany’s motion of summary judgment of liability, and in 2017, a civil jury awarded the jeweler damages totaling about $21 million.
Costco appealed the judgment and won, with the Second Circuit Court of Appeals reversing the decision.
In a filing Monday, the appeals court the said question of liability for infringement and counterfeiting should have been presented to a jury during the first trial, rather than be decided by the district court judge.
In a 3-0 decision, the appeals court judges said “reasonable” jurors could find Costco’s use of the word “Tiffany” wasn’t likely to confuse customers or make them think the latter had produced or endorsed the rings.
They could understand “Tiffany” wasn’t only a brand name but also “a widely recognized descriptive term for a particular style of pronged ring setting.”
The case has been remanded to U.S. District Judge Laura Taylor Swain in Manhattan for a jury trial.
“We are disappointed in the court’s ruling … We continue to believe that the district court was correct in its findings, and that the jury’s finding on damages, which resulted in a $21 million award for Tiffany & Co., is a clear indicator of the strength of the Tiffany brand, and of the jury’s outrage over Costco’s actions,” said Leigh Harlan, Tiffany senior vice president, secretary and general counsel.
“We have no qualms about trying this case again and remain confident that a jury will find counterfeiting and infringement upon retrial, just as the district court judge originally ruled.”
The attorneys at Debevoise & Plimpton LLP, which represented Costco in the appeal, declined to comment on the ruling.
The Latest

A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.

Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.

Roseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.

Furmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.


Jennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.

Adler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.

From educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.

Founder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.

JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.

A buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.

Mercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.

GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.

The National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.

Late collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.

At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.

The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.

The retailer also shared an update on the impact of tariffs on watch customers.

Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.

All proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.

Courtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.

De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.

Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.

Kindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.

The company focused on marketing in the third quarter and introduced two new charm collections, “Pandora Talisman” and “Pandora Minis.”

The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.

Ahead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.



















