Philipp Plein, a German fashion designer, predicted that cryptocurrency transactions might see its company generate up to $21m in revenue this year.
Celebrated fashion designer, Philipp Plein, forecasts that more customers will utilize crypto when buying the firm’s products in 2022. He envisioned virtual coins to account for $15 million to $21 million of the company’s 2022 revenue.
Phillip Plein Goes Crypto
One of Europe’s top fashion companies, Phillip Plein International AG, joined the cryptocurrency world last year, allowing its clients to pay for products such as shoes and clothes in 15 different crypto assets. Bitcoin and Ethereum were among the list of supported tokens.
Recently, the firm’s founder, Philipp Plein, declared that such transactions accounted for approximately 3% of the company’s $105M online revenue last year. The CEO trusts the numbers will increase in 2022, targeting crypto payments worth $21 million before the year ends.
Remember, Philipp Plein is a HODLer and outspoken crypto supporter. The designer holds 170 $BTC worth around $6.6 million at the current price. He revealed that he trusts in the future of cryptocurrency last summer, hoping that the digital asset market could ensure increased returns for his firm and create added opportunities for customers.
PacSun Also Embraced Cryptocurrency
Another top brand within the fashion industry to embrace crypto payments in 2021 was PacSun. The American firm collaborated with BitPay to accept payments in Bitcoin (BTC), Wrapped Bitcoin (WBTC), Ethereum (ETH), Bitcoin Cash (BCH), and Dogecoin (DOGE), Litecoin (LTC), and five USD-tied stablecoins.
Brieane Olson, PacSun President, commented on the move. He stated that his firm understands the benefits of a top-notch shopping experience to clients amid doubling digital sales in the past year. Remember, this is a brand for young adults and teens.
Co-founder Michael Relich stated that crypto is popular among the young generation, justifying PacSun’s move. He added that Gen Z is highly tech-oriented.
And the company commits to e-commerce and social media to match clients’ lifestyles while resonating with the primary consumer at personal levels. Relich revealed increasing crypto exposure desire by youths had them adjusting and offering BitPay as an additional payment method.
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