As Bitcoin’s value continues to soar, luxury brands are seizing the opportunity to tap into this new pool of wealth. 
 
French luxury department store Printemps has partnered with the world’s largest crypto exchange, Binance, and financial tech company Lyzi to accept Bitcoin and Ethereum in its stores. 
 
This makes Printemps the first European department store to accept cryptocurrency payments.

With other luxury retailers like Gucci and Balenciaga already offering crypto payment options, the trend is gaining momentum, especially as more brands show interest in joining the movement. 
 
The luxury industry’s embrace of cryptocurrency is driven by the desire to innovate and appeal to a younger, tech-savvy clientele. 
 
Brands are expanding their payment options, allowing crypto payments in select stores. 
 
In fact, Gucci has been accepting Bitcoin and other cryptocurrencies for its products in the US since 2022.

This shift comes as high volatility and regulatory concerns around cryptocurrencies persist, but the growing support from figures like US President-elect Donald Trump is offering optimism for more stable e-currency regulation. 
 
Luxury goods like designer handbags and high-end watches are becoming attractive investment options for crypto investors. 
 
While cryptocurrency payments remain largely symbolic for many retailers, they serve as a branding tool for companies eager to position themselves as innovative. 
 
With younger and wealthier customers looking for ways to diversify their portfolios, Bitcoin has emerged as a viable method for purchasing luxury items. 
 
This signals a shift in both consumer behaviour and how brands are meeting the demands of a changing market.

(With inputs from the agencies)

As Bitcoin’s value continues to soar, luxury brands are seizing the opportunity to tap into this new pool of wealth. French luxury department store Printemps has partnered with the world’s largest crypto exchange, Binance, and financial tech company Lyzi to accept Bitcoin and Ethereum in its stores.

As Bitcoin’s value continues to soar, luxury brands are seizing the opportunity to tap into this new pool of wealth. French luxury department store Printemps has partnered with the world’s largest crypto exchange, Binance, and financial tech company Lyzi to accept Bitcoin and Ethereum in its stores. This makes Printemps the first European department store to accept cryptocurrency payments. With other luxury retailers like Gucci and Balenciaga already offering crypto payment options, the trend is gaining momentum, especially as more brands show interest in joining the movement. The luxury industry’s embrace of cryptocurrency is driven by the desire to innovate and appeal to a younger, tech-savvy clientele. Brands are expanding their payment options, allowing crypto payments in select stores. In fact, Gucci has been accepting Bitcoin and other cryptocurrencies for its products in the US since 2022. This shift comes as high volatility and regulatory concerns around cryptocurrencies persist, but the growing support from figures like US President-elect Donald Trump is offering optimism for more stable e-currency regulation. Luxury goods like designer handbags and high-end watches are becoming attractive investment options for crypto investors. While cryptocurrency payments remain largely symbolic for many retailers, they serve as a branding tool for companies eager to position themselves as innovative. With younger and wealthier customers looking for ways to diversify their portfolios, Bitcoin has emerged as a viable method for purchasing luxury items. This signals a shift in both consumer behaviour and how brands are meeting the demands of a changing market. (With inputs from the agencies)

Luxury brands embrace cryptocurrency payments as Bitcoin surges

India is a huge market for luxury brand lovers who like to splurge and show off wealth, with the country being home to a sizeable number of millionaires and billionaires. While there’s a huge space for luxury retailers to capitalise on this, there is a growing market for those who like the idea of wearing chic cloths that offer the luxury of expert craftsmanship using high-end quality material but ‘quiet luxury’: sans any logo or hyper monogram that a large percentage of high-end consumers are usually after.&nbsp;

<h2>What is 'Quiet Luxury'?</h2>

Quiet luxury usually refers to clothes that come from uber-luxurious brands that offer staples at exorbitant prices but without the cliche showoff that comes attached. Think of Mark Zuckerberg’s regular black, white, and blue tees that he’s usually spotted wearing. Taking inspiration from this, there is now a branch of quiet luxury that offers non-branded luxurious clothes to people who appreciate opulence without the pomp. If you love the luxurious Louis Vuitton suits or Tom Ford leather jackets but don't want to shell out those astronomical figures, there are manufacturers who are offering perfect solutions. One such case is ANTIBRND. Able Sunny, cofounder of ANTIBRND came up with the idea with his other founders, out of personal reasons.

<img alt="luxury" data-entity-type="file" data-entity-uuid="9ef3c363-cb21-46a3-a266-41a9b1ff2599" src="//cdn.wionews.com/sites/default/files/inline-images/HORIZONS%20-%202023-07-04T105122.648.jpg" />

“Even though our country makes products for most of the major luxury brands of the world, we Indians were always deprived of quality, be it apparel or other products. Not being able to afford a leather jacket at a point when we really wanted one was the turning point. We found a way out by finding a manufacturer to make one within the budget. Figured this should be available for others as well. Since we were already in the garment business, it became easier to connect the best Indian manufacturers and customers directly,” said Able Sunny.&nbsp;

<h2>You can now buy from manufacturers who make luxury fashion at a fraction of its cost</h2>

Imagine walking into the factory that makes shirts for DKNY and asking them to make you a black shirt. You want the same exact high-quality material, the same meticulous craftsmanship, and similar designs. The only thing that is missing is the big logo. If you paid the shirt maker fairly for the materials and the labour, the shirt would run you about Rs.1200, which is a tiny fraction of a Rs.16000 shirt you would pick up at a branded store. These quiet luxury companies sell those clothes without the outrageous price that comes along with the logo. It is disrupting the luxury manufacturing and retail industry in India with its direct-to-consumer approach.&nbsp;

<img alt="luxury" data-entity-type="file" data-entity-uuid="42cdb23e-ff10-4816-a7ef-408c0d960190" src="//cdn.wionews.com/sites/default/files/inline-images/HORIZONS%20-%202023-07-04T104647.346.jpg" />

This company has no direct relationship with luxury brands. They are just a platform that enables manufacturers across categories, to make the best products, take the inventory risk and and earn by connecting customers directly to them. They use the same best resources big luxury brands use such as the fabrics, manufacturers, trims, etc, and sell it to the customer at a much better deal. “Every product is freshly made by the same manufacturer by sourcing similar or even higher quality materials from the vendors. We are able to provide higher value because there is no high-end branding, fashion shows or high-end store rent to pay for. The manufacturer takes the risk of the inventory and earns much more than while working with the brands,” explained Sunny.&nbsp;

<h2>It works for people who don't care about logos</h2>

But ‘quiet luxury'&nbsp;only works for people who don’t care about their wardrobe having branded clothes. It caters to people who care about quality and value for money. ANTIBRND, for example, has people who are seniour employees of companies and are highly paid, as early adopters. These are people who are in the age of 28-55 and earn upwards of Rs 700,000 a month. “There is no need for them to prove anything to others and they are aware of how the industry works,” Sunny said.&nbsp;

“Also a big majority of the middle class like us, for whom the price of branded goods was a barrier to good quality. Our products start at just 599 enabling them to experience luxury quality without breaking the bank,” he added.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

&nbsp;

India is a huge market for luxury brand lovers who like to splurge and show off wealth, with the country being home to a sizeable number of millionaires and billionaires.

India is a huge market for luxury brand lovers who like to splurge and show off wealth, with the country being home to a sizeable number of millionaires and billionaires. While there’s a huge space for luxury retailers to capitalise on this, there is a growing market for those who like the idea of wearing chic cloths that offer the luxury of expert craftsmanship using high-end quality material but ‘quiet luxury’: sans any logo or hyper monogram that a large percentage of high-end consumers are usually after. What is 'Quiet Luxury'? Quiet luxury usually refers to clothes that come from uber-luxurious brands that offer staples at exorbitant prices but without the cliche showoff that comes attached. Think of Mark Zuckerberg’s regular black, white, and blue tees that he’s usually spotted wearing. Taking inspiration from this, there is now a branch of quiet luxury that offers non-branded luxurious clothes to people who appreciate opulence without the pomp. If you love the luxurious Louis Vuitton suits or Tom Ford leather jackets but don't want to shell out those astronomical figures, there are manufacturers who are offering perfect solutions. One such case is ANTIBRND. Able Sunny, cofounder of ANTIBRND came up with the idea with his other founders, out of personal reasons. “Even though our country makes products for most of the major luxury brands of the world, we Indians were always deprived of quality, be it apparel or other products. Not being able to afford a leather jacket at a point when we really wanted one was the turning point. We found a way out by finding a manufacturer to make one within the budget. Figured this should be available for others as well. Since we were already in the garment business, it became easier to connect the best Indian manufacturers and customers directly,” said Able Sunny. You can now buy from manufacturers who make luxury fashion at a fraction of its cost Imagine walking into the factory that makes shirts for DKNY and asking them to make you a black shirt. You want the same exact high-quality material, the same meticulous craftsmanship, and similar designs. The only thing that is missing is the big logo. If you paid the shirt maker fairly for the materials and the labour, the shirt would run you about Rs.1200, which is a tiny fraction of a Rs.16000 shirt you would pick up at a branded store. These quiet luxury companies sell those clothes without the outrageous price that comes along with the logo. It is disrupting the luxury manufacturing and retail industry in India with its direct-to-consumer approach. This company has no direct relationship with luxury brands. They are just a platform that enables manufacturers across categories, to make the best products, take the inventory risk and and earn by connecting customers directly to them. They use the same best resources big luxury brands use such as the fabrics, manufacturers, trims, etc, and sell it to the customer at a much better deal. “Every product is freshly made by the same manufacturer by sourcing similar or even higher quality materials from the vendors. We are able to provide higher value because there is no high-end branding, fashion shows or high-end store rent to pay for. The manufacturer takes the risk of the inventory and earns much more than while working with the brands,” explained Sunny. It works for people who don't care about logos But ‘quiet luxury' only works for people who don’t care about their wardrobe having branded clothes. It caters to people who care about quality and value for money. ANTIBRND, for example, has people who are seniour employees of companies and are highly paid, as early adopters. These are people who are in the age of 28-55 and earn upwards of Rs 700,000 a month. “There is no need for them to prove anything to others and they are aware of how the industry works,” Sunny said. “Also a big majority of the middle class like us, for whom the price of branded goods was a barrier to good quality. Our products start at just 599 enabling them to experience luxury quality without breaking the bank,” he added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Don't care about logos but want high-end luxury products at one-third of the price? This is for you

Stocks of global luxury brands faced a bloodbath on Tuesday, as they lost more than&nbsp;$30 billion over&nbsp;fears of a softening US economy hitting demand.&nbsp;

According to a Bloomberg report, shares of Hermes International fell as much as 5.5 percent, LVMH Moet Hennessy Louis Vuitton (LVMH) fell almost 4 percent, and Kering SA, owner of Gucci, saw 2 percent drop its share prices.

The sharp fall in luxury stocks meant that Bernard Arnault, the world's richest man and founder of LVMH, lost over $11 billion of his personal fortune.&nbsp;

Over the past year, the luxury sector's meteoric rise&nbsp;has made it Europe's equivalent of the United States Big Tech: a group of dominating enterprises whose growth has been resilient through economic ups and downs.

Despite Tuesday's downturn, luxury stocks have been outperforming by a large margin this year. LVMH's stock has jumped 25 percent, while shares of Hermes have risen 34 percent in 2023, despite a general economic downturn across the world.&nbsp;

A large part of the stock gain can be attributed to investors, who have gambled that Chinese consumers will be eager to spend after emerging from the world's tightest Covid-19 lockdown in late 2022.

US, Asia demand boosts luxury brands

The United States and Asia represent significant markets for the European luxury brands.

Hermes' quarterly revenues increased by 23 percent in the first quarter of 2023 (January to March), thanks in large part to the demand from Chinese shoppers for the luxury brand's scarves and kelly bags.

LVMH's stock price touched a record last month when the company reported a boost in sales. The stock rally also helped the world's biggest luxury brand to enter the most-valuable company list earlier this year.&nbsp;

According to LVMH's annual report for 2022, the United States accounted for 27 percent of the company's sales, while Asia, excluding Japan, accounted for 30 percent.

But early warning signs have appeared, with LVMH reporting a slowdown in US growth and Burberry Group reporting a decline in demand for trainers and entry-level items among younger Americans.

Stocks of global luxury brands faced a bloodbath on Tuesday, as they lost more than $30 billion over fears of a softening US economy hitting demand. According to a Bloomberg report, shares of Hermes International fell as much as 5.

Stocks of global luxury brands faced a bloodbath on Tuesday, as they lost more than $30 billion over fears of a softening US economy hitting demand. According to a Bloomberg report, shares of Hermes International fell as much as 5.5 percent, LVMH Moet Hennessy Louis Vuitton (LVMH) fell almost 4 percent, and Kering SA, owner of Gucci, saw 2 percent drop its share prices. The sharp fall in luxury stocks meant that Bernard Arnault, the world's richest man and founder of LVMH, lost over $11 billion of his personal fortune. Over the past year, the luxury sector's meteoric rise has made it Europe's equivalent of the United States Big Tech: a group of dominating enterprises whose growth has been resilient through economic ups and downs. Despite Tuesday's downturn, luxury stocks have been outperforming by a large margin this year. LVMH's stock has jumped 25 percent, while shares of Hermes have risen 34 percent in 2023, despite a general economic downturn across the world. A large part of the stock gain can be attributed to investors, who have gambled that Chinese consumers will be eager to spend after emerging from the world's tightest Covid-19 lockdown in late 2022. US, Asia demand boosts luxury brands The United States and Asia represent significant markets for the European luxury brands. Hermes' quarterly revenues increased by 23 percent in the first quarter of 2023 (January to March), thanks in large part to the demand from Chinese shoppers for the luxury brand's scarves and kelly bags. LVMH's stock price touched a record last month when the company reported a boost in sales. The stock rally also helped the world's biggest luxury brand to enter the most-valuable company list earlier this year. According to LVMH's annual report for 2022, the United States accounted for 27 percent of the company's sales, while Asia, excluding Japan, accounted for 30 percent. But early warning signs have appeared, with LVMH reporting a slowdown in US growth and Burberry Group reporting a decline in demand for trainers and entry-level items among younger Americans.

Steep sell-off: Luxury stocks lose $30 billion in one day over US demand fears

The onset of winter is often marked by Indian mothers buying and then forcing their kids to wear the so-called "monkey cap", which is a unique beanie-style cap that covers the head, ears, neck, and mouth and arguably makes one look quite unflattering. It's sold by local vendors at very cheap rates and is seen as a necessity for the winter season.

But, would you buy the same ski mask cap at a whopping price of over $392 from fashion house Dolce &amp; Gabanna? Since many would answer this question with a big "no", the luxury brand is getting brutally trolled by netizens for its accessory collection and its hefty price tag.&nbsp;

The chatter around the overpriced cap started when Swati Moitra posted a screenshot of what looks like a regular monkey cap priced at Rs 31,990 after a discount on Twitter. In the tweet, she wrote, "As a Bengali, I am horrified and vindicated." The tweet went viral on the platform in no time. It currently has over 370,000 views on the micro-blogging site.

<blockquote class="twitter-tweet">
As a Bengali, I am horrified and vindicated. <a href="https://t.co/fu8Wn5ToPa">pic.twitter.com/fu8Wn5ToPa</a>
— Swati Moitra (@swatiatrest) <a href="https://twitter.com/swatiatrest/status/1615411328721760258?ref_src=twsrc%5Etfw">January 17, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/dolce-gabbana-sells-monkey-cap-for-whopping-392-tickles-twitter-users-554412/embed" style="width:100%;max-width:560px;" width="560"></iframe>

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-jack-oconnell-lesley-manville-eddie-marsan-join-the-cast-of-amy-winehouses-biopic-back-to-black-554438">Jack O'Connell, Lesley Manville, Eddie Marsan join the cast of Amy Winehouse's biopic 'Back to Black'</a>

The product was called ‘Khaki Ski Mask Cap’ on the site. It was originally priced at Rs 40,000 ($392) and the product also has an EMI option that starts at Rs 1,778 ($21) per month.

"Was so cold in the mountains end-Dec, if promised express delivery, I may have robbed a bank and ordered this!" wrote a sarcastic user. Meanwhile, another user wrote, "Rs 31k for a monkey cap!!! I got mine for Rs 20, 10 years ago, &amp; it is still serving me fine (sic)." And, one tweeted, "This should be the cap’s starting price in order to stop parents from buying it against their kids’ preferences." 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The onset of winter is often marked by Indian mothers buying and then forcing their kids to wear the so-called "monkey cap", which is a unique beanie-style cap that covers the head, ears, neck, and mouth and arguably makes one look quite unflattering.

The onset of winter is often marked by Indian mothers buying and then forcing their kids to wear the so-called "monkey cap", which is a unique beanie-style cap that covers the head, ears, neck, and mouth and arguably makes one look quite unflattering. It's sold by local vendors at very cheap rates and is seen as a necessity for the winter season. But, would you buy the same ski mask cap at a whopping price of over $392 from fashion house Dolce & Gabanna? Since many would answer this question with a big "no", the luxury brand is getting brutally trolled by netizens for its accessory collection and its hefty price tag. The chatter around the overpriced cap started when Swati Moitra posted a screenshot of what looks like a regular monkey cap priced at Rs 31,990 after a discount on Twitter. In the tweet, she wrote, "As a Bengali, I am horrified and vindicated." The tweet went viral on the platform in no time. It currently has over 370,000 views on the micro-blogging site. As a Bengali, I am horrified and vindicated. pic.twitter.com/fu8Wn5ToPa — Swati Moitra (@swatiatrest) January 17, 2023 Also read: Jack O'Connell, Lesley Manville, Eddie Marsan join the cast of Amy Winehouse's biopic 'Back to Black' The product was called ‘Khaki Ski Mask Cap’ on the site. It was originally priced at Rs 40,000 ($392) and the product also has an EMI option that starts at Rs 1,778 ($21) per month. "Was so cold in the mountains end-Dec, if promised express delivery, I may have robbed a bank and ordered this!" wrote a sarcastic user. Meanwhile, another user wrote, "Rs 31k for a monkey cap!!! I got mine for Rs 20, 10 years ago, & it is still serving me fine (sic)." And, one tweeted, "This should be the cap’s starting price in order to stop parents from buying it against their kids’ preferences." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netizens feel ‘horrified & vindicated’ by Dolce & Gabbana’s $392 ‘monkey cap’

luxury-brand

Luxury Brand, News on Luxury Brand, stories on Luxury Brand, articles on Luxury Brand, Luxury Brand stories at Wion, Luxury Brand news, Luxury Brand latest news