Controversy related to product quality and after-sales service

In recent days, public opinion has been particularly concerned about the controversy over after-sales service for customers when purchasing products distributed by Tam Son International Joint Stock Company (Tam Son Company).

According to customer NMN (Hanoi), he reported that he bought a handbag worth more than 72 million VND at the Saint Laurent store, a branded goods distribution system of Tam Son International Joint Stock Company (Tam Son Company) on the 1st floor of Union Square (171 Dong Khoi, District 1, Ho Chi Minh City). However, after using the product for a short time, the lock came loose, so he contacted the store to request warranty support. However, Tam Son's staff suggested that the customer... take it for repair themselves, and if they wanted to send it to the company, it would take about 4 months and the customer would have to pay the shipping costs.

NMN customers believe that Tam Son is selling products in a "leaving the baby in the market" manner, not caring about after-sales service. Especially during the process of working with Tam Son's staff, customers also learned that this is Tam Son's "warranty mechanism" for all products distributed by this business.

Through research by the Journalist & Public Opinion Newspaper, Tam Son International Joint Stock Company (Tam Son Company) is a name that is no longer strange to "followers" of famous fashion brands in the world. This enterprise is the "first or second" famous unit in Vietnam specializing in selling high-end products of luxury and expensive brands with a system of more than 40 retail stores in central locations in Hanoi and Ho Chi Minh City.

However, when searching for product warranty information on Tam Son's website, there is no content to guide customers on warranty, as well as how to handle damaged products. The content only focuses on upgrading customers.

Thanks to the huge profits from selling luxury goods, Tam Son has huge revenue, increasing rapidly.

The controversy over product quality and after-sales service has surprised the public because Tam Son still sells very well even though the products are very luxurious and expensive. The proof is shown through the huge sales of up to thousands of billions of VND and continuously increasing rapidly every year.

With a system of more than 40 retail stores in central locations in Hanoi and Ho Chi Minh City, in 2022, Tam Son recorded a record revenue of more than 4,700 billion VND, an increase of 67% compared to the previous year and 3 times higher than in 2018. On average, this business earns 13 billion VND in sales per day.

Revenue is constantly increasing, Tam Son's profit is also continuously increasing strongly. In 2022, this enterprise had a record profit of nearly 850 billion VND, more than double the previous year. Compared to 5 years ago, Tam Son's profit has increased 5 times.

With easy sales and high profits, it is no surprise that Tam Son is continuously expanding its scale. The total assets and equity of this enterprise have also continuously increased year by year. In 2022, Tam Son's total assets will reach nearly 3,600 billion VND, one and a half times higher after just one year and nearly 3.5 times higher than at the end of 2018.

Owner's equity also increased sharply from 700 billion at the end of 2018 to more than 2,300 billion VND at the end of 2022, which is more than 3 times. Liabilities also increased, but the proportion in total capital is only under 40%. This is understandable when Tam Son has a large annual accumulated profit that can be added to owner's equity for business.

According to customer NMN, right after the Journalist & Public Opinion Newspaper published the incident, Tam Son staff informed the customer and apologized for the bad experience. At the same time, they said they would try to learn from the experience and improve customer care.