Hundreds of millions of VND from customers, PNJ "installs" for 4 months
According to records, at some PNJ stores in the center of Ho Chi Minh City, there are quite a few customers carrying invoices and inspection certificates to resell diamonds. However, instead of the relief of "pushing" goods, many people fell into a state of anxiety when facing the payment policy lasting up to 120 days that the business applied from July 21st.
PV followed Ms. Nguyen Thi Hanh (name changed, residing in Ho Chi Minh City) to PNJ store (05-07 An Duong Vuong, An Dong ward, Ho Chi Minh City). Here, the staff advised on the new process: "Diamonds are pre-attached, if you sell them completely, the company will collect 80% of the invoice value... but you cannot get the money immediately. We will pay within 120 days, divided into 5 installments.
When customers wonder about the money receipt schedule, the staff lists details: "In the first installment, you will receive 10%. In the second installment in the next 30 days, you will receive 20% and in the next 30 days, you will receive 25%. On the 90th day, you will receive 25% and on the 120th day, you will receive the last 20%".
To reassure customers' psychological concerns about risks, employees affirmed: "My company has 400 stores that can never be closed, so you can rest assured.
After a while of hesitating before the strict payment terms, Ms. Hanh decided to bring the bracelet home. Ms. Hanh shared: "I bought this bracelet for 100 million VND, now selling it at a loss of 20 million VND is understandable, and the money was divided into 5 payment installments over 4 months. From a large amount of money being broken into small pieces, the feeling of suddenly having to be an unwilling "creditor", I really don't like it.
Sharing the same disappointment, Ms. Hoang Ngoc Anh (character name has been changed, residing in Ho Chi Minh City) - a long-time customer of PNJ - said that she originally trusted the brand because of its beautiful design and had experienced profitable gold sales at PNJ at the end of 2025. However, before the new regulation, Ms. Ngoc Anh said that it is unfair: "I understand that diamonds when sold must bear losses, but what makes me most indignant is that businesses "hold capital" on customers. When buying, I give them a "pile" of money immediately, but when selling, customers have to receive small amounts of money in installments. This is unfair to consumers.
Exchange diamonds for Italian gold (7.5 years old), get a 8% discount
Faced with the "barrier" of receiving small amounts of cash lasting up to 4 months, PNJ has stepped up directing customers to the product exchange option to solve liquidity needs immediately.
Continuing to follow Ms. Bach Thi Van (character name has been changed) - a customer who previously bought PNJ diamonds - to PNJ store (No. 255A-255B Hau Giang, Binh Tay ward, Ho Chi Minh City). Here, staff actively advise customers to convert diamonds to 24K, 18K or Italian gold jewelry (7.5 year old gold). To increase persuasiveness, the business offers a preferential policy of a 8% discount on new invoices when converting to Italian gold, and also gives away 24K gold coins.
To persuade customers, the staff introduced an expensive jewelry design: "This Italian gold necklace is priced at 86 million VND, this is not a discount. It is only different from 24K and 18K gold in that it is white. If you take this necklace, the labor cost is cheaper than other designs, and it will be more convenient to resell later.
However, with the rich experience of a gold investor, Ms. Van was not convinced, she clearly understood that Italian gold, although beautiful, always bears very high processing costs; when resold, consumers often have to accept large losses, the value depends on the place of purchase.
Therefore, to minimize damage, I wanted to exchange for gold rings, but the Hau Giang branch staff reported that the goods were out of stock.
When I arrived at Tan Phu branch, I was shocked to learn that the actual policy was only to exchange for jewelry gold (24K or 18K). In the end, I still had to accept exchanging because I knew it was the same everywhere, this is a general policy, it's just that each place's advice is different to make customers less upset" - Ms. Bach Van recounted.
Talking to reporters, a PNJ media representative shared that there is still no specific information about the time of completion of the product repurchase program, but it depends on the actual situation. This is an effort to maintain cash to support customers in the context of many people flocking to sell diamonds due to crowd psychology (FOMO). PNJ will repurchase products even if customers have bought and used them for a long time.
