Major fashion brand Philipp Plein has announced that it will start accepting cryptocurrencies as payments, with as many as 15 cryptocurrencies to be accepted in stores and online. The brand was established in Germany in 1998 and currently has stores all over the world.
The brand will accept cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, and Tron. The company has partnered with Coinify, a crypto payments platform owned by Voyager Digital for this project.
Philipp Plein, the designer behind the fashion brand, remarked that he expects to have a positive impact. The brand is known to sell over-the-top fashion and was one of the first brands to build an e-commerce platform. It is now targeting to achieve sales of 100 million euros by the year-end.
In the press release, Plein remarked:
“I believe that cryptocurrencies are the future and my team and I have made a major commitment in time and resources, performing all necessary system modifications to adopt this new type of currency.”
Burberry releases NFT collection
Another recent addition of cryptocurrencies in the fashion industry is the popular luxury fashion house Burberry. Burberry has partnered with Mythical Games, a technology studio, to release its own NFT collection for sale.
Burberry will feature its NFT items in Blankos Block Party, a multiplayer party game and they will be available for in-game purchase from August 11.