Bougie may have become a lot cooler and more modern, or at least luxury house Gucci is!
Gucci, which is owned by Kering brands in France, has announced that they will become the latest company to accept virtual currency. The Italian luxury brand, will begin taking cryptocurrency payments at certain locations of its American based stores.
Customers will be able to pay using a plethora of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Shiba Inu and Dogecoin, a so-called "meme" cryptocurrency that was founded as a joke, will also be surprisingly accepted, according to the company.
The service will be available later this month at some of the company's major locations, including Rodeo Drive in Los Angeles and Wooster Street in New York.
Customers who pay with cryptocurrencies at stores will receive an email with a QR (aka: Quick Response) code to use with a digital asset wallet, which is a mobile financial transaction app. QR codes, or rapid response codes, are black and white squares that can be read by mobile phones and have been increasingly popular since the outbreak began.
The policy will be adopted and added to all of brand's North American stores in the near future, according to the company. However, no ETA was given on when they plan to roll it out nationwide.
Gucci is the most recent and possibly highest end brand to announce that it will start accepting cryptocurrency payments. They are joining Microsoft, AT&T, and Starbucks being among the world's most well-known companies that now accept digital currencies.
How do you feel about cryptocurrencies being accepted by luxury retailers now? It is an interesting twist for a company that has been around for a long time now. They seem eager to stay on the trends to stay current. Who knows, maybe they will announce luxury NFTs in the future?!
