How about paying for your Gucci purchases in cryptocurrency? The Italian house, specializing in fashion and luxury, has just announced the adoption of Bitcoin as a payment currency in its stores. Creator of the world’s most beloved handbags, ready-to-wear, shoes, accessories, home décor, cosmetics and accessories, this luxury brand is about to enter an increasing world of younger generations.
Gucci continues to integrate new payment methods in its stores in the USA. After Bitcoin and Ethereum, ApeCoin payments are now accepted in Gucci stores in the USA. The implementation of this new modern payment method is the result of close collaboration with the crypto payment provider BitPay.
The news was announced by the house of Gucci on Twitter:
“We are now accepting ApeCoin payments via BitPay, select stores in the US are expanding the range of cryptocurrencies available for in-store purchases, another step in the House’s exploration of Web3.”
In its plan to integrate cryptocurrency into its methods of payment, Gucci also plans to accept several virtual currencies:
The Wrapped Bitcoin
The Shiba Inu
The first crypto purchases will be accepted by the end of May, in US Gucci stores, including Los Angeles, Las Vegas, New York and Miami. For this, customers will receive a link by email, with a QR code that will allow them to pay for their purchases from the digital wallet of their choice.
Crypto currency innovates the e-commerce sector by providing a solution for more convenient and secure payment. For brands, this is mainly about the retention of customers by means of improvement of their shopping experience. As Marco Bizzarri, president and CEO of Gucci, tells Vogue Business:
“Gucci always looking for new technologies in order to provide the best shopping experience for our customers […] Integrate cryptocurrencies within our payment system is a natural evolution for customers who wish to have this option”.
So now we should know that the Italian brand are ready to offer to their customers the diversity of payment options, on top of transactions performed by Master Card, Visa Card, Paypal, American Express or by bank transfer.
Gucci is not the first luxury brand to accept payment in Bitcoin in its stores. Other fashion designers and top designers like Off-White and Philipp Plein already accepts crypto currencies in their shops. Cryptocurrency is gradually becoming essential e to all sectors. The payments in digital currency are also accepted with Tesla, the famous electric car manufacturer as well as Paypal, the platform international currency exchange.
The beginnings of the Gucci brand in the virtual world does not date from today. The Italian brand which will soon exceed the centenary, already has some experiences in the metaverse, games and NFTs. Do we have to remind you that Gucci had previously marketed a digital version of one of its bags on Roblox for a significantly higher price than its real version? For a brand adored by Millennials and Generation Z who constitute around 40% of luxury spending (Mckinsey), the ability to buy clothes, bags, shoes and accessories in crypto currencies would simply be “quirky” and “practical”.