High-end fashion house Gucci will start accepting cryptocurrencies as payment
Gucci will accept payments via bitcoin, bitcoin cash, dogecoin, ethereum, five stablecoins pegged to the US dollar, litecoin, shiba inu and shrouded bitcoin. Photo/Getty Images
Luxury fashion lovers will soon be able to shop at Gucci stores using cryptocurrency.
By the end of May, the luxury fashion house will accept payments via bitcoin, bitcoin cash, dogecoin, ethereum, five stablecoins pegged to the US dollar, litecoin, shiba inu and bitcoin wrapped in five US stores as part of a pilot project.
The five outlets included in the pilot are located in Atlanta (Phipps Plaza), Las Vegas (The Shops at Crystals), Los Angeles (Rodeo Drive), Miami (Design District) and New York (Wooster Street).
Gucci intends to expand this pilot program to all of its North American stores by winter 2022.
The announcement comes as the retailer seeks to tap into the younger market and build trust with those who have started buying, selling and holding digital currencies.
“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” Gucci Chairman and CEO Marco Bizzarri told Vogue Business.
“Now that we are able to integrate cryptocurrencies into our payment system, it is a natural evolution for customers who wish to have this option available to them,” he added.
Customers who choose to pay with cryptocurrencies will receive a QR code via email that will allow them to pay with their digital wallets.