This month, Ralph Lauren opened a new luxury store in Miami’s Design District. Located at 170 NE 40th Street, the new location welcomed shoppers starting April 4. The store is the brand’s first location to accept cryptocurrency.
Shoppers are offered an assortment of pieces from the Men’s Purple Label and Women’s Collection apparel and accessories, in addition to one-of-a-kind items exclusive to the Design District location.
The 4,135 square-foot location features a sleek, modern design inspired by contemporary yachts and waterfront residences, materialized in white tile flooring, teak wood planking and blond mahogany wood millwork, along with black ebonized details and stainless steel. The space is completed with tasteful, bold artwork and furniture from the Ralph Lauren Home brand.
Through a partnership with BitBay, the store will accept cryptocurrency as a form of payment, including Bitcoin, Ethereum, and Polygon. Customers can use interactive digital screens to book styling appointments and explore products across North America at their fingertips.
Ralph Lauren worked in collaboration with Web3 group Poolsuite on a new partnership with plans to host digital and immersive experiences to celebrate the store. They created a Ralph Lauren x Poolsuite NFT for existing Poolsuite community members that unlocks exclusive access to a special event.
The brand’s movement into the crypto space is part of Ralph Lauren’s digital expansion and follows in the steps of luxury brands including Gucci and TAG Heuer and Hublot. At the National Retail Federation’s 2022 annual conference, Ralph Lauren CEO Patrice Louvet told CNBC that the brand is accessing younger shoppers through opportunities in the metaverse.
Visit Ralph Lauren’s new location at 170 NE 40th Street, Miami, Florida 33137, from 11 a.m. - 8 p.m. Monday through Saturday and 12 p.m. - 6 pm. on Sundays.
