U.S. luxury brand Ralph Lauren has declared that customers can now pay with crypto at its Miami Design District store. The store has even been designated by the brand as its focal point for Web3 promotions, with Bitcoin, ethereum, and polygon among the accepted cryptocurrencies.
Ralph Lauren Miami Store to Act as Web3 Promotions Hub
American luxury fashion house Ralph Lauren has revealed on April 5 that its customers can now pay via crypto at its new Miami store. According to a statement released by Bitpay, customers at the store can use BTC, ETH, MATIC, and twelve other cryptocurrencies.
Introducing our new #RLMiami store, the first Ralph Lauren store to accept cryptocurrency as a form of payment.
In partnership with @BitPay, customers can make purchases with different cryptocurrencies including #Bitcoin, #Ethereum and #MATIC by @0xPolygonLabs and more. pic.twitter.com/YUHhsDRexB
— Ralph Lauren (@RalphLauren) April 4, 2023
Explaining why Ralph Lauren opted to accept crypto payments at its Miami Design District location, the statement read:
This store provides customers with new ways to engage with the brand and shop, including accepting cryptocurrency as a payment method. The Miami Design District location is the first Ralph Lauren retail store to accept crypto payments. Customers can pay for all of Ralph Lauren’s elevated looks straight from their preferred crypto wallets.
In addition to allowing crypto payments, Ralph Lauren said it will be introducing an activation experience that utilizes non-fungible tokens (NFTs). The firm has since designated the Miami store as its focal point for Web3 promotions.
David Lauren, the company’s chief innovation officer, said that the decision to accept crypto payments at the Miami store was made because “it is one of the most Web3-friendly cities in the world and has a vibrant community of startups, brands and luxury consumers.” He also noted that the firm plans to open similar stores in Europe, North America, and Asia.
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