Global fashion brand Ralph Lauren's new Miami Design District store will be accepting crypto payments, including Bitcoin (BTC), Ethereum (ETH), Shiba Inu and other cryptocurrencies supported by BitPay.
Ralph Lauren is launching a brand-new luxury-themed retail concept in Miami's Design District. A variety of men's Purple Label and women's collection clothing and accessories, as well as one-of-a-kind handbags and accessories, will be available at the shop when it opens on Tuesday.
Customers can pay for all of Ralph Lauren's elevated looks straight from their chosen crypto wallets. Refunds will be given in the cryptocurrency that was used initially and will match the total amount of what is being returned in dollars.
The Miami Design District location would be the first Ralph Lauren store to accept crypto payments thanks to its partnership with crypto payment processor Bitpay. The store will partner with the Web3 community Poolsuite to gift NFTs.
Aside from Bitcoin (BTC), Ethereum (ETH) and Shiba Inu, other cryptocurrencies supported by Bitpay include Bitcoin Lightning Network, ApeCoin (APE), Bitcoin Cash (BCH), Dai (DAI), Dogecoin (DOGE), Euro Coin (EUROC), Gemini Dollar (GUSD), Litecoin (LTC), Pax Dollar (USDP), Polygon (MATIC), USD Coin (USDC) and Wrapped Bitcoin (WBTC).
In May last year, Italian luxury brand Gucci announced acceptance of payments in cryptocurrencies, including Bitcoin, Bitcoin Cash, Ether, Dogecoin and Shiba Inu, in some of its stores in the United States.
Fashion designer Philipp Plein's online store started accepting crypto payments in 2021.