Crypto Payments Are Coming to Some Gucci Stores
Five stores in the United States will be the first to take crypto
If you’ve ever wanted to pay for a Gucci suit using Dogecoin, we have excellent news for you. As per a new article at Robb Report, the company will be accepting a host of cryptocurrencies at a selection of stories in the United States this month, with the initiative expanding to even more stores nationwide over the course of the year.
A Vogue Business article ventured into the full range of currencies that will be accepted, including “Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu and five stablecoins pegged to the US dollar.” And, of course, Dogecoin.
According to Vogue Business, payment will be accepted via cryptocurrency apps on the buyer’s phone — think Apple Pay, but with a dog-themed digital currency being used to pay for goods.
Five Gucci stores — located in New York City, Los Angeles, Miami, Atlanta and Las Vegas — will be the first to accept cryptocurrency. As per a Reuters report, the remainder of Gucci’s directly operated stores in North America are next. As the article notes, Gucci isn’t the only luxury retailer to make inroads with crypto adherents; Off White has gone a similar route.
It seems unlikely that this information will become publicly accessible, but it will be fascinating — a year or two into this program — to see what percentage of purchases made at these stores end up utilizing cryptocurrencies versus more traditional methods of payment. It could be very telling about the state of the industry — and of digital currencies.
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