Gucci Begins Accepting Ethereum and Dogecoin at Select US Stores

Gucci has begun accepting a range of cryptocurrencies, including Ethereum ($ETH) and the meme-inspired Dogecoin ($DOGE), for purchases at select physical stores in the United States. The pilot program, which launched this month, marks one of the most significant forays by a major luxury house into digital asset payments.

The rollout is being facilitated by a partnership with a payment processor that immediately converts the crypto into US dollars upon transaction completion, according to people familiar with the setup. This mechanism is designed to shield the company from the wild price swings that have characterized the crypto markets. The service also supports payments in select stablecoins.

A company spokesperson confirmed the pilot, stating the move is part of Gucci’s “continued exploration of emerging technologies to enhance the client experience.” The spokesperson declined to specify the number of stores involved or the transaction volume to date. Efforts to reach Marco Bizzarri, Gucci’s longtime CEO, for further comment were unsuccessful.

The initiative is not Gucci’s first flirtation with Web3. The brand has previously launched and sold out non-fungible token (NFT) collections and developed virtual experiences on platforms like Roblox. However, enabling direct payments for physical goods with volatile cryptocurrencies like Dogecoin represents a bolder step into operational integration. Gucci is not the first luxury player to test these waters.

Competitors including Off-White and Philipp Plein have implemented similar systems, though Gucci’s stature as a bellwether for the industry lends the move significant weight. The bet is that catering to crypto-wealthy shoppers will open a new revenue stream and bolster the brand’s image as innovative and forward-thinking.

The timing, however, introduces regulatory risk. The crypto industry in the US is facing heightened scrutiny from multiple federal agencies. While a spokesperson emphasized that Gucci is adhering to all applicable laws, the broader regulatory environment for digital assets remains in flux, potentially complicating any plans for a wider global rollout. For now, the program remains a limited test. But its success or failure will be closely watched across the luxury retail sector, where other brands are likely to follow suit if Gucci’s ledger starts filling up with crypto.