Major jewelry chain Bao Tinh Minh Chau will resume operations at noon Thursday after shutting down several stores Wednesday due to a police inspection.
It said in a statement signed by CEO and legal representative Pham Lan Anh late Wednesday that its stores were closed for half a day to cooperate with authorities to “verify and clarify information,” but provided no further details about the inspection. It added it would fully comply with regulations on gold quality standards.
A store of Bao Tin Minh Chau on Tran Nhan Tong Street, Hanoi, seen closed on March 24, 2026. Photo by VnExpress/ Trong Hieu |
Stores on Cau Giay and Tran Nhan Tong Streets in Hanoi were shut down as the police arrived and took away multiple sealed boxes of documents in vehicles.
The brand was founded in 1995 by Vu Minh Chau, the eldest son of Luong Thi Diem, once the owner of Bao Tin gold shop, a well-known Hanoi jeweler decades ago.
He owns more than 97% of its charter capital of VND400 billion (US$15.18 million).
It has four stores in Hanoi, but its products are sold at 200 locations nationwide.
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