Philipp Plein is the first fashion house in Europe to accept bitcoin

6TH AUG 2021, MUMBAI:

Philipp Plein Group, based in Switzerland, has become the first major fashion company to accept payment in 15 different cryptocurrencies, including Bitcoin and Ethereum. Many of the group's physical and mortar retail locations across the world, as well as the brand's e-commerce site, now accept digital currency for transactions.

It expects the decision to have the most beneficial impact. According to a press release from the firm, German designer and creator Philipp Plein and his group have always been at the forefront of investment and development in digital technologies applied to the fashion sector.

Philipp Plein, one of the first worldwide brands to build and develop an in-house e-commerce platform, has transformed e-commerce into its most profitable channel, with a record turnover of €100 million projected in 2021. “I think that cryptocurrencies are the way of the future, and my team and I have invested a significant amount of time and money in making all of the required system changes to accommodate this new sort of currency. Plein stated, "I'm thrilled to be able to offer our clients this extra payment option and the freedom that comes with it."

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