High-end German fashion designer Philipp Plein told his 2.5 million Instagram followers that he will now accept crypto as a payment method online and in his stores.
Cryptos accepted are Bitcoin, Bitcoin Cash, BNB, Bitcoin SV, Dogecoin, Ethereum, Litecoin, Nano, OmiseGo, Paxos Standard Token, Qtum, Tron, TrueUSD, USD Coin, Tether ERC-20.
Diving deeper, crypto and fashion were made for each other.
Philipp Plein leads the way
Since the launch of his brand in 1998, originally selling furniture, Plein has made a name for itself in the fashion world.
Described by the fashionistas like âglamorâ with âa healthy dose of sex, drugs and rock and rollâ, Plein’s style appeals to the well-to-do who need luxury in their lives.
Describing his typical clients, Plein said that they were young, confident and successful people.
Certainly, a large number of OG crypto, which have been in the game for several years, could generally be described as young and successful.
In his article announcing crypto as a payment method, Plein also said that he owns and believes crypto is the future.
“THE FUTURE IS NOW – CRYPTO KING PLEIN is aiming this year for 100 MILLION EUROS -ONLINE- ONLY I am a crypto investor and I believe in the future of CRYPTO – that’s why I decided to offer this mode of payment in my stores and online !!!! have fun guys and enjoy pulling CRYPTO COINS in our wallet – together we make HISTORY ð¤“
Full further commented that he had been overwhelmed by the response since the announcement earlier this week.
Luxury Fashion Seeks Crypto Opportunities
Given that the fashion industry thrives on trends and innovations, it almost seems absurd that fashion houses have taken so long to get into crypto.
But the heavyweights of the industry are come on board, and not just for payments.
The luxury watchmakers, Bvlgari and Hublot, use e-guarantees which also act as product authentication tools. Likewise, Prada spA, Cartier and LVMH are turning to blockchain technology to fight counterfeiters.
NFTs also open up endless opportunities, especially in marketing and brand loyalty.
“The widespread adoption of cryptocurrency, as well as the introduction of new blockchain-based non-fungible tokens (NFTs), has generated massive interest from top brands around the world.”
All in all, the luxury goods market offers a relatively untapped opportunity. As Plein attests, the future looks bright.
A d: Margin up to 20x on FTX.
Get a edge in the crypto-asset market
Access more cryptographic and background information in each article as a paying member of CryptoSlate Edge.
Sign up now for $ 19 / month Discover all the advantages
Like what you see? Subscribe for updates.