Gucci To Accept Another Crypto For Payment, Hublot Joins Forces With BitPay

High-end luxury fashion brand Gucci announced on Tuesday on Twitter it now accepts payments in ApeCoin (CRYPTO: APE) and will be available for in-store purchases in select stores in the U.S.

Now accepting @ApeCoin payments via @BitPay, select Gucci boutiques in the USA expand the range ofcryptocurrencies available for in-store purchases, yet another step in the House's exploration of Web3.

— gucci (@gucci) August 2, 2022

Early in May, the Florence-based fashion behemoth, owned by Kering ADR (OTC: PPRUY), began taking cryptocurrency payments in a bid to attract more cryptocurrency-friendly clients in the wake of the 2021 bull market.

In addition to ApeCoin, Gucci accepts payments in cryptocurrencies such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), among others.

Customers of Gucci can make payments via a QR code emailed to them.

One of the most well-known names in the fashion world, Gucci also contributed $25,000 last month to the decentralized autonomous organization (DAO) of NFT marketplace SuperRare.

In collaboration with the toy company Superplastic, Gucci issued a number of NFTs in February.

Hublot Now Accepts Crypto Payments

Meanwhile, Switzerland-based luxury watchmaker Hublot has entered into an agreement with crypto payments processing platform BitPay and will accept payments in cryptocurrencies.

Customers can purchase Hublot timepieces using any of 13 digital currencies, including Bitcoin, Ethereum, as well as the stablecoins USD Coin (CRYPTO: USDC) and DAI (CRYPTO: DAI).

Hublot customers who use BitPay also have an option of 100 different cryptocurrency wallets, including BitPay Wallet, Coinbase Wallet, Exodus and others.

BitPay is accepted for payments up to $30,000 at a time when purchasing watches with cryptocurrencies.

BitPay has established multiple collaborations over the past few years in numerous European countries and the U.S., considerably increasing the acceptance of cryptocurrencies worldwide.

An example is Kuoni Business Travel, a Swiss company founded in 1906, which allows its clients to use BitPay to book trips using cryptocurrency.

Fashion Houses and Crypto

Some other well-known figures have adopted digital fashion as well.

In September 2021, Dolce & Gabbana introduced its own NFT line.

German design label Philipp Plein began taking Bitcoin payments in August 2021. The controversial designer behind the firm, Philipp Plein, claimed in April that his business would make around $16 million from crypto aficionados this year.

Photo: Gucci, rameesha bilal shah; Hublot, Jacek Jedrzejczyk, both via Shutterstock