Bitcoin’s meteoric rise has drawn the attention of luxury fashion brands and retailers, prompting a wave of interest in adopting cryptocurrencies as a payment option.
This trend is aimed at tapping into new wealth pockets and fostering loyalty among crypto-savvy consumers.
While a few high-end brands, such as LVMH-owned Hublot and Tag Heuer, as well as Gucci and Balenciaga under Kering, have previously explored cryptocurrency payments, the momentum is growing.
French luxury department store Printemps recently partnered with Binance, the world’s largest cryptocurrency exchange, and French fintech firm Lyzi to accept payments in cryptocurrencies like Bitcoin and Ethereum.
This move makes Printemps the first European department store to adopt crypto payments, a development that has sparked interest from other luxury brands and retailers.
“This initiative has generated significant interest. We’ve received a number of inquiries,” said David Princay, President of Binance France, who confirmed that discussions are underway with other luxury labels.
Luxury goods maker ST Dupont, known for its high-end lighters and pens, revealed plans to accept cryptocurrency payments in two Paris stores before the holiday season.
Meanwhile, cruise operator Virgin Voyages has introduced its first crypto payment product—a £95,000 annual sailing pass valid across its fleet.
Despite these developments, cryptocurrencies like Bitcoin remain high-risk assets, according to regulators, with limited real-world utility and price volatility continuing to hinder broader adoption. However, the narrative is shifting.
Pledges of support from incoming US President Donald Trump, who is expected to introduce more cryptocurrency-friendly regulations, have contributed to Bitcoin’s record-breaking surge.
Analysts at S&P also highlight the increasing appeal of blockchain innovation, which could enhance the predictability and usability of cryptocurrencies in financial markets.
As Bitcoin’s value continues to soar, luxury brands are positioning themselves at the forefront of this digital payment revolution, blending exclusivity with cutting-edge technology to cater to the affluent crypto-investor demographic.
