Balenciaga Joins Fellow High-Fashion Brands In Accepting Cryptocurrency
Having surprised fans with an unexpected Adidas collaboration at its latest fashion show, Balenciaga is now following in the footsteps of other luxury brands in accepting payment in the form of Bitcoin and other cryptocurrencies.
Just this month, Gucci had announced it would begin accepting cryptocurrencies at select stores in America, with Off-White making a similar decision a month earlier.
Now, Balenciaga is set to follow suit, starting with its flagship stores in the nation, including one on Madison Avenue in New York and Rodeo Drive in Beverly Hills.
According to WWD, the fashion house said that the alternative payment method will soon come to other regions in the world and its e-commerce platform, though it’s still selecting a payment solutions partner to team up with.
Despite the recent fluctuations in the value of many cryptocurrencies, the brand doesn’t seem too fazed, saying that the ups and downs “are nothing new,” and that it was taking a long-term approach to the virtual assets.
[via WWD and Nasdaq, cover image via Tang90246 | Dreamstime.com]
