German fashion designer Philipp Plein stated that they are seeing an increasing demand for cryptocurrency payments.
Plein thinks the fashion brand could make around $16 million from crypto-savvy customers in 2022. Last year, digital assets accounted for about 3% of the brand’s revenues. This share is expected to increase in 2022.
The luxury brand allowed them to pay with Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH) and Tether (USDT) last August. Philipp Plein was one of the first major fashion brands to make such a move.
The brand’s crypto policy would have been successful from day one due to strong engagement. The company decided to hold the crypto instead of converting it to cash.
Philipp Plein stated that his brand has gained many new customers with its crypto policy.
Plein has decided to introduce crypto payments to its new London store. “The UK is very important because we all know that the UK announced a few weeks ago that they want to be a crypto hub in Europe,” Plein said.
Known as the “king of elegance”, Plein is also known for working with names such as Naomi Campell and Paris Hilton.
The famous fashion designer stated that he personally owns 170 Bitcoins. He even said that his mother has crypto money in her hands.
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