Companies have to adapt to the new digital economies, and the fashion industry is no exception. Today the Italian luxury brand Gucci has implemented a pilot program with which it will begin to accept cryptocurrencies.
The company is taking advantage of the crypto crowd. Thus, the brand will accept payments with cryptocurrencies in some U.S. stores by the end of the month and plans to expand this program to all its directly operated Vienna stores in North America, which means Mexico, United States and Canada.
The cryptographic payments would be made with a QR code sent by email to the customer, which would allow them to execute the payment from their crypto wallet. Gucci stores that accept cryptocurrencies 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.
On the other hand, the cryptocurrencies accepted in payments would be more than 10 coins, among these are Bitcoin, Ethereum, Litecoin, Shiba Inu and five stable currencies linked to the U.S. dollar.
This is further evidence that brands have been increasingly testing blockchain technologies, mainly through NFT artwork collections and digital cufflinks that store product information, but in-store crypto payments are still very few.
Gucci has established itself as an early adopter of Web3 technologies, which includes crypto payments, this marks another step toward combining Gucci’s in-store presence with its emerging Web3 efforts and digitization.
“Gucci is always looking to adopt new technologies when they can provide an enhanced experience for our customers. Now that we can integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who wish to have this option available to them.” Gucci CEO Marco Bizzarri explained.
