Gucci, one of the world’s leading luxury designer brands, will be the first in it’s class to begin accepting bitcoin payments in some US locations. 

According to Vogue Business: “In-store payments will be made using a QR code that customers can scan with their crypto wallet, sent by Gucci via email. The stores will accept various digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu.”

The first locations to accept crypto are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.Â

Other high-end brands—most recently, Off-White—have already begun accepting crypto.

Offering in-store crypto payments is the latest in Gucci’s move into Web3. Earlier this year, Gucci entered the metaverse by purchasing virtual land in the decentralized blockchain game The Sandbox for an undisclosed amount; it’s building a virtual “Gucci Vault” for Gucci-themed NFTs.

Luxury Handbags are more than just a typical purchase in most cases. Anyone who is devoting a larger sum of money i.e. $2000 – $5000 to purchase a handbag is making an investment whether it be consciously or unconsciously. Those with lower income brackets are almost always consciously aware of this as making an investment, due to this having a higher level of impact on their lifestyle and it takes a lot of planning or designating savings to make the purchase.

When you make an investment it is important to keep all aspects of that investment in tact. This means that while some people choose to discard additional items from the purchase, it is imperative that you do not do this. For your handbag to retain its highest resale value, the most important thing to do is to keep all additional pieces this includes the box the bag came in, the care cards, certificates of authenticity or original purchase receipt, as well as the dustbags or covering accessories and of course anything detachable i.e. straps, charms, ribbons, etc. 

By discarding these you lower the integrity of the bag and make it less of a assured purchase to any reseller or marketplace. Then people viewing the bag may like it and want to purchase it, but may be warded away from the purchase when they see all they would receive is the bag. Many resellers have to use third party authenticating services in order to validate the bag and have proof of authenticity which aside from being an extra expense, still is not as assuring as the original COA that comes with the bag. 

So the moral of the story is this. If you are investing in a new bag. Be sure to always retain any items that come with that original purchase. As you can be rest assured that when you are finished with your new cherished item, you can get the highest return on it when you are ready to resell or consign it over to a location to have it sold again.