Philipp Plein will first accept cryptocurrency in fashion
The brand has partnered with Coinify, a crypto payment platform owned by Voyager Digital.
Digital currency is now accepted for purchases at many of the group’s retail stores around the world, as well as on the brand’s e-commerce platform.
Philipp Plein International Group comprises the German luxury brand Philipp Plein, as well as its Plein Sport and Billionaire fashion subsidiaries.
“I believe cryptocurrencies are the future and my team and I have made a major commitment of time and resources, making all the necessary system changes to embrace this new type of currency,” said the founder. eponymous Philipp Plein. “I am very happy to be able to offer our customers this additional payment tool and the flexibility that goes with it.”
Philipp Plein’s crypto payments are part of a larger fashion industry trend toward crypto adoption, with historic brands like Burberry releasing collectible NFTs and luxury brand conglomerate LVMH piloting blockchain-based authentication services.
A few luxury and beauty brands, including watchmakers Hublot and Franck Muller, accept cryptocurrency for payment.