Fine jewelry retailer Birks Group recently announced it will accept Bitcoin payments at some of its stores in Canada.
“As an internationally growing brand, we believe that BitPay will benefit our customers as we look to align ourselves with these innovative capabilities that are on the forefront of technology,” said Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group in a statement.
BitPay will foster faster, more efficient, and more secure purchases, according to Birks Group, which is the first luxury retailer in the country to take cryptocurrency as a payment option.
“Birks Group has a large number of international shoppers so allowing them to pay in bitcoin makes perfect sense,” noted Sonny Singh, Chief Commercial Officer, BitPay. “Accepting Bitcoin helps Birks Group to cater to their high-end international clients and get new customers while providing an innovative and safe payment option.”
Consumers will be able to purchase brands such as Rolex, Bulgari, Cartier and Breitling using BitPay at the following Birks locations: Vancouver West Hastings, Brinkhaus Calgary, Fairview Mall, Bloor, Yorkdale, Montreal and Calgary store locations. The new Graff and Patek Philippe retail stores in Vancouver will also accept bitcoin in the near future.
BitPay allows brick and mortar establishments such as Birks Group to accept blockchain payments in various forms, including direct point-of-sale purchases and through online and mobile-based apps. This method of payment is touted as being “risk-free with no currency threat.” Some people use BitPay to make pricey purchases such as real estate and supercars because the transactions are fast and simple to negotiate.
Birks isn’t the first jewelry brand to accept cryptocurrency. American-based REEDS Jewelers partnered with Coinbase in 2014 to accept bitcoin online and at its 60 U.S. stores. Online gold dealer APMEX started accepting bitcoin through BitPay in 2017. Marks Jewelers also accepts cryptocurrency through its e-commerce platform.
Birks was founded by Henry Birks on March 1, 1879, and he built his first flagship store in 1881. The Birks Group formed in 2005 after Henry Birks and Sons Ltd. merged with the American-based Mayors Jewelers Inc.
Birks won Brand of the Year at the World Branding Awards this past summer. The retailer’s 2018 advertising campaign centred on the empowerment of women.