Ralph Lauren Debuts In-Store Crypto Payments and NFT ‘Gifts’ in Miami
The fashion brand will use the Miami location to spearhead a push into the city’s Web3 community with NFT-based activations experiences.
Ralph Lauren is going crypto.
On Tuesday, the American fashion company announced the opening of a new luxury-focused concept store in Miami’s Design District, which will accept cryptocurrency payments and serve as the focal point for a targeted push into the city’s active Web3 community.
The store, which opens today, will offer products from the company’s Men’s Purple and Women’s Collection luxury labels, as well as one-of-a-kind handbags and other accessories exclusive to the Miami store.
Items will be available for purchase in Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Dogecoin (DOGE), and other cryptocurrencies via a partnership with crypto payments service provider BitPay. This marks the first time that a Ralph Lauren store has ever accepted cryptocurrency as payment.
The Miami storefront will serve as a focal point for Ralph Lauren’s burgeoning Web3 push, hosting “a series of innovative and immersive moments” throughout the year, per a press release. The store’s design itself also leans into a more modern and digital aesthetic, with interactive screens that let users browse the brand’s catalog and book styling appointments.