Gucci is one of the most popular luxury fashion brands in the world. The brand has been around for more than a century, and its products are sold worldwide. The company is now looking to expand its business by adding crypto payments to its effects. According to a report from Bloomberg, the Italian fashion house will begin accepting Bitcoin and other cryptocurrencies as payment in some of its stores starting next month. The company — which counts Leonardo DiCaprio and Rihanna among its fans — will also accept Ethereum and Litecoin, two other cryptocurrencies that have soared in value over the past year.
Gucci Accepting Bitcoin and Cryptocurrency Payments
Gucci has announced plans to include cryptocurrency payments in some of its stores. The luxury fashion brand will partner with PumaPay, a blockchain payment processing service provider, to integrate cryptocurrency payments into selected Gucci stores in the United States and Europe by the end of this year.
Gucci’s foray into crypto comes after Louis Vuitton announced plans to start accepting payments in the cryptocurrency by 2022. It also follows several other high-end brands, including Burberry, Zara, and LVMH-owned Hublot, that have begun accepting Bitcoin payments from customers in recent years.
This is a significant move for both Gucci and crypto. The luxury fashion goods industry is hard to break into, and this decision will likely pull crypto one step closer to mainstream adoption.
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