Balenciaga aims to remain a buzzy brand with its newest payment method that includes popular cryptocurrencies like Bitcoin and Ethereum. crypto
and it is no surprise it did. The fashion brand presented its showstopping Fall/Winter ’22 runway presentation in an artificial snowstorm last March. It was a commentary on the ongoing conflict between Ukraine and Russia, and the buzz it generated propelled the brand to the top.
Similarly, Balenciaga embracing crypto is how the brand plans to remain top of mind amongst shoppers who are spoilt for choices. Furthermore, this inclusion can enable the brand to connect with those who are crypto-rich and help to diversify its customer base. The adoption of digital currencies has seen an uneven distribution where most industries other than the luxury industry have already started its acceptance. Most prominently, companies like Starbucks, Microsoft and Amazon have all added this payment option for their customers.The luxury sector has been fairly resistant to incorporating changes to its system.
Despite the so-called “crypto winter” that is currently happening, more and more brands across the luxury industry are putting digital currencies into its roster of payment methods. It won’t be long before other brands, big and small, start to follow suit shortly.
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