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Agenda-setting intelligence, analysis and advice for the global fashion community.

The Crypto Wealthy Are Luxury’s New Big Spenders

The swelling ranks of the crypto-rich are boosting US luxury sales, and unlike previous generations of tech wealth, many are splashing out large sums on fashion that gets them noticed.
Guests talk around a pool at a swanky venue in Miami.
A crypto event in Miami. (World Red Eye)

On a recent ski trip, Meltem Demirors, a crypto investor and chief strategy officer of CoinShares, a digital asset management firm, skipped the usual outdoor brands and wore a full-body Fendi jumpsuit. It wasn’t her first choice, however.

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Further Reading

The Two Hottest Cities in America

Young, wealthy professionals have flooded Miami and Austin over the last 18 months, and luxury brands are following the money. But selling to a newly minted tech millionaire isn’t always so simple.

Will Luxury Brands Start Accepting Crypto?

Philipp Plein is going for it, and some of the industry’s biggest brands have considered accepting Bitcoin, Ethereum and other blockchain-based payments. But the risks might still outweigh the benefits for more established players.

About the author
Marc Bain
Marc Bain

Marc Bain is Technology Correspondent at The Business of Fashion. He is based in New York and drives BoF’s coverage of technology and innovation, from start-ups to Big Tech.

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