A Bangkok gold shop owned by an internet celebrity with over 4.6 million followers has drawn unusually large crowds in recent days.
However, those lining up outside K2N gold shop in Klong Sam Wa district are not eager customers, but frustrated former buyers demanding refunds. “I want my money back,” declared a woman who began queuing at 3am the other day to be first in line when the shop opened.
Kornkanok Suwanbut, aka “Mae Tak”, and her husband Kanpon Rueangaram have vowed to refund customers after a group of angry buyers confronted them on a TV show.
The dispute blew up after customers tried to sell gold necklaces bought from K2N, only to be turned away by other gold dealers.
The refusals sparked doubt over the authenticity of the gold products offered by Kornkanok, who controversially portrays herself as a charitable self-made woman.
It has also shed light on the shadowy realm of online personalities who flaunt their “humanitarian” credentials alongside products – a popular sales tactic in Thailand and other countries.
Fake or not?
In response to the controversy, the Hone-Krasae TV show invited experts to examine items from the high-profile couple’s shop.
The experts revealed that the “pure gold” free gifts advertised by the shop were actually made of paper.
A detailed examination by the Gem and Precious Metal Testing Laboratory then showed that a gold bead of a good-luck bracelet from the shop was only 71.58% pure. Products with such low purity are usually not considered “authentic gold”.
However, the bracelet’s Pixiu amulet did meet the standard for pure gold, at 99.83%.
Another “gold necklace” bought from the shop was found to be only 92.08% pure, falling short of the standard 92.5% required for such products. The controversial items also lacked proper labels, putting their sellers at risk of jail and a fine.
Crisis management
Kornkanok has been selling gold and a variety of other products online for several years.
This week, doubts grew about her husband’s claim that the shop sourced all its jewellery from members of the Gold Traders Association after he admitted K2N is not part of the association.
As the controversy snowballed with media and public attention, the couple decided to offer refunds to customers, prompting large crowds to turn up in front of their shop.
Customers were offered refunds on the condition that they signed a guarantee not to pursue legal action against the shop.
Probably too late
On Thursday, more than 150 K2N customers lodged a complaint with the Central Investigation Bureau, accusing Kornkanok and her husband of deliberately duping their followers into buying overpriced products.
A customer who identified herself only as “Kwang” said the gold products she had purchased from K2N for about 85,000 baht were worth just 30,000 baht when she took them to a pawn shop.
This was despite a significant rise in the price of gold in recent years, she noted.
“Two years ago, after I reviewed the quality of her products, I faced attacks from [Kornkanok’s] hardcore fans. Since then, I have witnessed how she has continued with the same selling techniques. So, I think it can’t be an honest mistake,” said the representative of the more than 150 complainants.
She said her decision to take legal action was aimed at stopping not just Kornkanok but also others who use the same manipulative selling techniques.
Many customers say they buy products from Kornkanok and her husband because they seem like “good people” with a charitable attitude towards those in need.
The couple have cultivated this image with stunts like buying up everything from a streetside stall, endearing them to grassroots communities.
“It felt good buying from the couple because I thought my money was going to a good cause since they kept helping people,” a former customer said.
“Now I’m just disillusioned.”
