Dive Brief:
- The new “I Will” ad campaign from Tiffany & Co. emphasizes its craftsmanship while also underlining the 179-year-old company’s intellectual property, according to Fortune.
- Tiffany recently prevailed a legal battle with warehouse club Costco following the warehouse club’s use of the term “Tiffany” in selling jewelry at retail.
- Costco was found guilt of knowingly infringing on Tiffany trademarks; damages will be determined in a jury trial set to begin in June.
Dive Insight:
While the luxury Tiffany jewelry brand is iconic enough to have created a definition in the Webster’s New World dictionary, the company wants to protect the use of the term “Tiffany setting,” and is now releasing ads that highlight not only the craftsmanship that goes into a Tiffany ring, but also its ownership of the Tiffany brand.
The six-pronged Tiffany setting—first championed by the brand 130 years ago—is a popular style for engagement rings from all makers. However, on Valentine’s Day 2013, Tiffany sued Costco after discovering that the warehouse club was selling engagement rings labeled with the word Tiffany.
While Costco didn’t use any of the luxury brand’s distinctive trappings, such as its blue box, a U.S. District Court found it guilty of knowingly infringing on Tiffany’s intellectual property. Costco now faces a jury trial to determine damages in the case.
Copyright law dictates that a company must demonstrate the use of its trademarks and IP to defend them in court. The “I Will” campaign features Tiffany gemologists who “reject 99.96% of the world’s diamonds” in crafting engagement rings. Tiffany holds 97 trademarks and has vowed to defend them.
Discount retailers such as Costco and Sam’s Club have moved into the high-end jewelry market in recent years, cutting into luxury brands’ market share. Almost a third of Tiffany sales are generated by engagement jewelry.
