Fashion

Gucci Is Accepting Cryptocurrency Payments

Including Bitcoin, Ethereum, Dogecoin and Shiba Inu.

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Gucci is diving further into the digital world and is set to accept cryptocurrency payments at select stores in the U.S. towards the end of this month.

According to Vogue Business, the rollout will begin with a small number of locations and will eventually cover all directly-operated North American stores by this summer. The first pilot Gucci stores to test this update are Wooster Street in New York, Rodeo Drive in Los Angeles, The Shops at Crystals in Las Vegas, Miami Design District and Phipps Plaza in Atlanta.

Those looking to pay with one of 10 currencies — including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Dogecoin and Shiba Inu — will be able to do so by clicking a link that shows a QR code to make the payment from their crypto wallets.

While this marks a huge jump in the crypto space for a luxury fashion house, the news doesn’t come as a huge surprise with more brands tapping into NFTs, the metaverse and more. Gucci has been one of the pioneers in this space, having launched an NFT collection with SUPERPLASTIC.

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers. Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them,” Gucci’s president and CEO Marco Bizzarri said in a statement, Vogue reports. Other fashion brands that have begun accepting crypto payments recently include Off-White™.

For more news on fashion in the digital space, check out the latest installment of our Diving Into Digital series, where we round up our favorite Web3 and NFT projects.

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Vogue Business
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