Luxury Brand Ralph Lauren Now Accepting Crypto Payments at Its New Miami Store
The U.S. luxury brand Ralph Lauren has said customers can now pay via crypto at its Miami Design District location. The store has also been designated the luxury brand’s focal point for Web3 promotions. Bitcoin, ethereum, and polygon are among the cryptocurrencies that are accepted at Ralph Lauren’s new store in Miami.
Miami Store Ralph Lauren’s Web3 Promotions Focal Point
United States luxury brand Ralph Lauren said on April 5 that it will accept crypto payments at its new store in Miami. According to a statement released by Bitpay, Ralph Lauren customers can now pay at this store using 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.
— Ralph Lauren (@RalphLauren) April 4, 2023
Explaining Ralph Lauren’s decision to accept crypto payments at Miami Design District located store, the statement said:
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.
Meanwhile, in addition to accepting crypto payments, Ralph Lauren said it will implement an activation experience that utilizes non-fungible tokens (NFTs). According to reports, Ralph Lauren has since designated the Miami store as its focal point for Web3 promotions.
David Lauren, the luxury brand’s chief innovation officer, said his company chose to accept crypto payments at the Miami store 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 suggested that the company plans to open similar stores in Europe, North America and Asia.
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