Philipp Plein Hopes More Crypto Payments from Company Customers
Philipp Plein, a German fashion designer, estimated that by 2022, crypto payments may bring in up to $21 million in income for his firm.
More customers are expected to use cryptocurrency to purchase Philipp Plein items this year, according to the famous fashion designer. In 2022, he expected digital assets to generate between $15.8 million and $21 million in income for the company.
Philipp Plein International AG, a prominent European fashion company, entered the crypto world last year by allowing its clients to pay for clothing, shoes, and other items in 15 different digital assets. Philipp Plein International AG The two most popular cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), were supported.
Philipp Plein, the company’s founder, stated in a recent interview that in 2021, such settlements would account for around 3% of the company’s $105 million in online sales. As of the end of the current year, he predicts that there will be $21 million in crypto payments.
“We saw that there was a large audience in the crypto sector, therefore we earned a lot of new customers,” Plein said.
As a HODLer and a proponent of the asset class, the German designer is not shy about his views. There are around $6.6 million worth of BTC in the CEO’s possession (at current prices). When he declared he believed in the future of cryptocurrency last summer, he raised the prospect of increased earnings for his firm and new job prospects for its customers.
PacSun was another large apparel store that accept digital asset payments in 2013. With the help of BitPay, this American corporation will be able to accept payments in Bitcoins, Ethereums, Litecoins, Dogecoins, and five USD-pegged stablecoins. Brieane Olson, the President of PacSun, weighed in on the decision:
When it comes to online purchasing, “we know that having a great online shopping experience for our clients is more important than ever.”
If you’re a teen or young adult, this brand is for you! Cryptocurrencies, according to PacSun Co-CEO Michael Relich, are particularly popular among millennials.
In order to better connect with the Gen Z audience and engage with them on a more personal level, we focus a lot of our efforts on social media and e-commerce.” In light of their growing interest in bitcoin, we decided to offer BitPay as an additional payment method.”