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American fashion house Ralph Lauren is all set to begin accepting cryptocurrency and gift non-fungible tokens at its Miami Design District Store. Having partnered with Bitpay, the store will accept crypto payments made through Bitcoin, Ethereum and Polygon at its launch this month. Similarly, refunds will be made in cryptocurrency as well and will equal the total dollar amount of the returned product. The brand has also partnered with Poolsuite (formerly known as Poolsuite FM) due to its NFT-gated membership offerings, which align with Miami’s culture and lifestyle.
“We are excited to announce the opening of our new luxury concept store in Miami’s iconic Design District, a location that represents the intersection of luxury, fashion, art and culture. Miami is the first of our stores to accept cryptocurrency, and in celebration of the opening, we are collaborating with the digital community Poolsuite on multi-tiered activations for their members. Building on our focus to create connected and elevated ecosystems, we look forward to expanding our presence within Miami through creative and unique activations, Web3 partnerships and one-of-a-kind product offerings,” the brand shared on LinkedIn.
The alliance has led to the co-designing of Ralph Lauren x Poolsuite NFT, which will be gifted to an estimated 3,000 Poolsuite community members. This NFT will also give the members exclusive access to a private waterfront Miami estate party which will be a part of the three-day launch event.
“Within the store, interactive digital screens will unlock the full breadth of Ralph Lauren products, allowing customers to discover and explore any item available in North America, book interactive styling appointments, integrate their wish lists and more,” the official statement released on LinkedIn read.
This is Ralph Lauren’s first blockchain-based venture and Poolsuite’s first brand collaboration. Existing holders of Poolsuite’s Grand Leisure collection will now be able to update their “Leisurist” avatars with Ralph Lauren clothing pieces and accessories inspired by the brand’s recent LA runway show.
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