As first reported by Vogue Business, Gucci will soon start to accept cryptocurrency as payment in some of its U.S. locations, with plans to include the option in more of the company’s North American stores this summer. Accepted cryptocurrencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shibu Inu. Gucci says it plans to accept more than 10 currencies. The program will commence at the end of May.
“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” said Marco Bizzarri, Gucci president and CEO, in a statement. “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.”
Those wishing to pay in crypto can do so after clicking on the provided retail link, which is sent via email and contains a QR code. That QR code permits access to a shopper’s crypto wallet. That crypto payment can be converted to a fiat currency, such as US dollars, or kept as cryptocurrency.
Gucci’s first stores accepting crypto are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.
In June 2021, Gucci became the first luxury brand to release an NFT. The fashion house dropped a film inspired by its recent Aria collection. You can revisit that collection below.
Gucci has also invested in The Sandbox.