Gucci to Accept Crypto As Payments in Retail Stores

Gucci, the high-end fashion brand, will accept cryptocurrency at some of its stores starting this month. This includes bitcoin, ether and dogecoin. By the end of this summer, all its North American stores will be accepting crypto.

Gucci to Start Accepting Crypto Payments

Vogue Business reported Wednesday that Gucci, an Italian luxury fashion house with high-end designs, will accept cryptocurrency payments in five stores by the end of this month.

The stores can be found in New York City (Wooster Street), Los Angeles, Rodeo Drive), Miami Design District, Atlanta (Phipps Plaza), Las Vegas (The Shops At Crystals), and Los Angeles (Rodeo Drive).

Gucci will accept bitcoin, bitcoin cash and ethereum.

These coins are supported by Bitpay, a popular crypto payment service provider. Bitpay also supports GUSDC, USDP and DAI stablecoins.

Marco Bizzarri is the president and chief executive officer of Gucci. He said: “Gucci is always seeking to embrace new technologies when it can provide an enhanced customer experience.”

Customers who wish to use cryptocurrencies in their payment system will find it a natural progression.

The publication also stated that the fashion house intends to have all its North American stores accepting crypto payments by the end of this summer.

Gucci has been increasing its Web3 and non-fungible token (NFT). Gucci recently created a Web3-focused group and released a few NFTs.

The fashion house is also expanding its presence in the metaverse. It is currently developing digital real estate in The Sandbox. They previously announced that they would collaborate to create an interactive fashion experience using Vault, Gucci’s conceptual space and meeting spot inspired by childhood memories of searching for beauty.