Cryptocurrencies are slowly becoming from niche to a more acceptable form of payment method. Slowly but steadily, more companies are starting to enable crypto payments. This is their way of becoming a part of the digital revolution. Lately, the luxury Swiss watch company TAG Heuer started accepting crypto payments, and now Fashion brand Balenciaga also accepts Bitcoin and Ethereum. Initially, the brand is going to offer the option only in select shops in the United States.
Luxury Fashion brand Balenciaga joins the crypto industry
Balenciaga has played it a little safe by enabling only Bitcoin and Ethereum as payment options. A few more tokens would have been appreciated, but this is good to start with. Buyers can purchase clothes, bags, and other products that the brand offers with their BTC and ETH. The official website of the company also supports crypto payments for those who want to get things online. With time, Balenciaga is expected to offer the payment option in more regions. At present, shops at Rodeo Drive in Beverly Hills and Madison Avenue in New York have the option.
Like TAG Heuer, Balenciaga is also looking at crypto from a long-term perspective. So, the short-term crashes or slipups don’t affect them in a major way. This shows that brands are slowly becoming more open to the idea of crypto. And most of them have understood that it is a long-term game, and one must get in as early as possible.
Balenciaga is a premium fashion business created in 1919 in San Sebastian, Spain, by Spanish designer Cristóbal Balenciaga and later purchased by French luxury firm Kering. It was known as a couturier of demanding standards, and Christian Dior referred to him as “the master of us all.” His bubble skirts and unusual, feminine, yet “modernistic” shapes became the house’s hallmarks. Balenciaga closed in 1972 and reopened in 1986 under new ownership. Balenciaga’s headquarters are in Paris and are owned by Kering.
During Paris Fashion Week in March 2022, the company declared its support for Ukraine, which was devastated by the Russian invasion during the Russian-Ukrainian War. Every chair had a T-shirt with the Ukrainian flag’s colors yellow and blue on it.
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