Ralph Lauren just opened a new luxury store in Miami’s Design District — one of the trendiest shopping districts in a town that loves Web3. And the new store, which opened Tuesday, will be Web3 and crypto-friendly.
Customers who visit the physical location can purchase luxury goods with several cryptocurrencies via a partnership with BitPay, the U.S.-based crypto service provider. The store currently accepts Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), ApeCoin (APE), Dogecoin (Doge), Shiba Inu (SHIB), and more. With the move, the new location becomes the first Ralph Lauren store to accept crypto payments.
Ralph Lauren in Miami carries a mix of women’s collection apparel and accessories, including 1:1 handbags, and the men’s Purple Label, displayed in a unique Sealife-themed setting. The store is also decorated with Ralph Lauren Home Collection furnishings and modern artwork throughout.
On the Web3 side, there are interactive digital screens that customers can browse all items sold in North America, create wish lists, and schedule an interactive style session. There’s also a free NFT airdrop from Poolsuite internet leisure corporation, which gives holder access to buy tickets to a soiree in Miami on April 28th. And, digital Ralph Lauren gear is also available.
David Lauren, the chief innovation officer for Ralph Lauren, said that brand looks forward to creating new Web3 partnerships and immersive experiences in “one of the hottest cities in the country.” He added that Miami has a strong and vibrant Web3 community, making it the right city to launch the new store.
He teased that more luxury stores could open in other great cities around the world as Ralph Lauren continues to be a leading innovative lifestyle brand — but he didn’t say which.
Miami Continues to Embrace Web3
News of Ralph Lauren’s first physical location in Miami accepting cryptocurrency is exciting for fans of Web3 and the iconic American luxury fashion brand. But the fact the store opened in Miami should come as no surprise. “The Magic City” has been a major leader all year when it comes to innovation in Web3. Here are the top three stories about Miami in Web3.
First, in December, Yuga Labs donated CryptoPunk #305 to the Institute of Contemporary Art (ICA) in Miami. The inaugural donation was a wink towards Miami (“305” is one of the city’s area codes), which is no surprise given that the founders of Yuga Labs, Greg Solano and Wylie Aronow, were born and raised in the city.
Next, in November, Miami Gardens partnered with CEEK VR to enter the metaverse. The virtual city boasts many of same attractions as its real-life counterpart, such as City Hall, Hard Rock Stadium, Calder Casino, Top Golf, and more. The experience can be enjoyed via VR headsets like Meta Quest Pro, online, or through the app.
Finally, about eight months ago, Francis Suarez, the Miami mayor, announced the city was dropping a 5,000 Ethereum-based NFT collection. The city is partnering with Mastercard, Salesforce, and Time USA for the project.
Ralph Lauren deciding to open an exclusive crypto and Web3-friendly location in Miami is more evidence of the city’s bullishness in the space. At Rarity Sniper, we’ll be keeping our ears to the ground for any new developments in the story.