If you’re in the market for Gucci’s signature Jackie handbag, you can shell out $2,250 in cash—or, if you’d prefer, 17,000 Dogecoin.
The iconic Italian fashion house will begin accepting cryptocurrency payments later this month at select stores in New York, Los Angeles, Miami, Atlanta, and Las Vegas. And while it will, of course, accept Bitcoin, Gucci is casting a wide digital currency net and will also accept nine other cryptos, including Bitcoin Cash, Ether, Dogecoin, and Shiba Inu.
The brand plans to roll out crypto acceptance to all North American stores it operates directly by the end of summer.
Customers wishing to pay with crypto in-store will be emailed a link that takes them to a QR code, letting them transfer funds from their digital wallet.
It’s the latest expansion of Gucci’s digital commitment. The company is already active in the metaverse, selling a digital Gucci bag in May for $4,115 (higher than the price of the real-world, physical bag). The company has also launched NFTs to engage with customers.
It’s a latecomer to crypto acceptance, though. AMC Theaters began accepting cryptocurrencies as payments last fall (as did Regal Cinemas) and you’ve been able to buy Dallas Mavericks tickets with it for over four years.
High-ticket items like Gucci products are a bit of a cryptocurrency gamble. The wild fluctuations in the market could mean the $2,000 you spend on a bag or shirt today works out to $4,000 in a few months.
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