The German luxury fashion house, Philipp Plein, has excitedly started accepting cryptocurrencies as a means to transaction following a recent bull run.
Recent crypto nouveau riche who may be wishing to splurge their crypto holdings for $6500 sneakers can now do so relatively easily over the Coinify API.
Currently, the fashion mogul supports fifteen significant cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Tether and Litecoin. Buyers will be mandated to provide their Know-Your-Customer information if their placement orders exceed 10,000 Euros.
Philipp Plein has a partnership with crypto payments company Coinify to facilitate their new crypto inclusions. A side note to that, Coinify was yesterday purchased by the crypto investing application Voyager Digital for $84 Million.
Taking to his Instagram account a day ago, the controversial designer behind the successful clothing dynasty posted;
“TONIGHT AT 8 pm cet we start to accept 15 different CRYPTO CURRENCIES online on PLEIN.com and also in our STORES – THE FUTURE IS NOW – CRYPTO KING ???? PLEIN is targeting this year 100 MILLION EURO -ONLINE- turnover ONLY, I am a crypto investor and I believe in the future of CRYPTO – this is why I decided to offer this payment method in my stores and online !!!! have fun guys and enjoy shooting CRYPTO COINS in our wallet – together we are making HISTORY”
His 2.5 million followers received this post on the platform, and the comments after that were positive and encouraging.
Despite having a rather unpleasant reputation for his rude behaviour and tacky outfits, Philipp’s fashion house ended up being a success. Celebrities to have featured on the brand include Naomi Campbell, Floyd Mayweather, and Paris Hilton.
This new trajectory into the crypto space is among the genius tricky companies use to obtain a competitive advantage.
While Philipp Plein is the first luxury brand to accept cryptocurrency payments, Gucci’s close competition started selling non-fungible tokens in May on its Spring collection.
