Stakeholder EngagementLaunchedNew Ralph Lauren Store In Miami Design District Accepts Crypto Payments
Milestone Date: April 4, 2023
Legacy fashion brand Ralph Lauren has opened a new store in Miami’s Design District. What makes this location particularly special is that the design not only embraces Miami’s vibrant fashion culture but also its allure for Web3. This is the first Ralph Lauren store to accept cryptocurrency as payment, which is made possible by the brand’s integration with BitPay.
The new Ralph Lauren Miami destination accepts payments made with Bitcoin, Ether, and MATIC. To add to that Web3 experience, Ralph Lauren partnered with Poolsuite — an exclusive NFT-gated community of approximately 3,000 members — whose brand is attuned to Miami’s leisurely and luxurious lifestyle. To celebrate the store’s opening, Poolsuite members were gifted a co-designed Ralph Lauren x Poolsuite NFT that granted access to a private waterfront party at a Miami estate.
The store opening included a digital focus, which is intentional as Ralph Lauren has stated it wants to build “ecosystems” based on 250 stores located in wealthy cities across the US. This ecosystem strategy was previously trialed in China and is now being applied in North American markets.
Allowing crypto payments opens up new ways for customers to engage, shop, and explore crypto with a respected legacy brand like Ralph Lauren.
By Elizabeth Morrison
Published:April 20, 2023
Sources
News
Vogue Business - Technology
News
Vogue Business - Technology