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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK

Software & services

Gucci to accept cryptocurrencies in US stores

The move marks a major endorsement of crypto by a leading luxury brand

Gucci is tapping into the crypto community with a handful of the Italian luxury brand's stores in America now accepting payments in bitcoin.

The company plans to expand the pilot programme to all of its directly-operated North American stores this summer.

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 will all soon accept Bitcoin, Ethereum, and Litecoin as payment.

Customers will be able to pay in-store with crypto by clicking a link that is emailed to them; the link contains a QR code allowing them to pay with their crypto wallet

A growing number of companies accept virtual currencies and Gucci, which is owned by France's Kering, joins superbrands such as Microsoft Corporation (NASDAQ:MSFT), US telecoms firm AT&T Inc. (NYSE:T), and Starbucks Corp (NASDAQ:SBUX) in allowing digital currencies.

The brand said it plans to introduce the policy to all the North American stores it operates directly in the near future.

"Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers," said Marco Bizzarri, Gucci president and chief executive.

"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."

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