📈 Bitcoin Strong!？Global Luxury Brands Considering Accepting Cryptocurrency Payments

Bitcoin's value has soared recently, attracting not only investors but also luxury brands. According to a report by Reuters, an increasing number of high-end fashion brands and retailers are considering cryptocurrency as a payment method to drive new growth momentum and build loyalty among cryptocurrency investors.

French department store Printemps recently announced a partnership with Binance and French fintech company Lyzi, becoming the first department store in Europe to accept Bitcoin and Ethereum payments.

Luxury lighter and pen brand S.T. Dupont also plans to allow cryptocurrency payments at two of its stores in Paris before the year-end holiday season.

Virgin Voyages launched the first product that can be purchased with Bitcoin—a $120,000 annual pass.

This payment method helps luxury brands break free from the stereotype of “only serving the older generation” and transform into innovative brands.

As Bitcoin's value skyrockets, cryptocurrency payments can attract wealthy customers who hold digital assets.

In a luxury market experiencing slowed growth, cryptocurrency payments have become a strategy to seek new sources of growth.

Gregory Boutte, Chief Client and Digital Officer of luxury group Kering, stated that embracing new technologies helps brands reach the consumer demands of younger and Asian markets.