Gucci accepts crypto as payment
Gucci, the Italian high-end fashion house, has announced that it would begin taking cryptocurrency payments at five of its US stores by the end of the month, with ambitions to expand the service to all 111 of its North American locations. According to Vogue Business, Gucci will accept 12 cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Wrapped Bitcoin (wBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE), and five US dollar stablecoins. Customers who pay with cryptocurrency in-store at the pilot sites in New York, Los Angeles, Miami, Atlanta, and Las Vegas will get an email with a QR code that will allow them to pay using their digital asset wallet.
High-end brands have begun to enter the Bitcoin and Web3 markets. Off-white began taking six cryptos as payment at its flagship stores in Paris, Milan, and London in March. Off-white is majority-owned by LVMH, which has experienced some Web3 adoption in the past, publishing NFTs under its Hennessy, Bulgari, and Louis Vuitton brands. Hublot, a premium watch company owned by LVMH, launched a limited edition collection that could only be purchased using Bitcoin. In February, the company collaborated with cold wallet provider Ledger to release a limited edition watch and Ledger Nano X.
Sources:
https://cointelegraph.com/news/gucci-the-latest-luxury-brand-to-accept-crypto-payments-in-store
https://www.voguebusiness.com/technology/gucci-takes-the-leap-will-accept-crypto-in-us-stores
https://www.coindesk.com/business/2022/05/05/gucci-to-accept-crypto-in-some-us-retail-stores-report/
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