Experiences of Luxury Fashion Brand in Crypto Market Reveal The Future Of Shopping

German fashion designer Philipp Plein entered the crypto market in 2022 and began accepting crypto payments for his luxury brand. He gave an interview about his experiences since the day he entered the crypto market. In an interview with Bloomberg, Philipp Plein shared his thoughts on the future of shopping.

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German fashion designer Philipp Plein stated that they are seeing a very significant increasing demand for cryptocurrency payments. He stated that last year, about 3% of the brand's revenues were thanks to digital assets. He stated that in 2022, they could earn around $16 million or even more from their crypto-savvy customers. Philipp Plein is the founder of Philipp Plein International.

The luxury brand started allowing its customers to make payments with Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), and Tether (USDT) in August last year. The luxury brand, which has been accepting payments with cryptocurrencies for about 9 months, is very satisfied with the sales. Also, Philipp Plein was one of the first major fashion brands to accept cryptocurrency payments.

Philipp Plein said they saw strong demand, so they've been successful since day one. Realizing the potential in the crypto market, the company decided not to sell the cryptocurrencies it obtained from its customers. And the company holds and will continue to hold cryptocurrencies with its decision.

In addition, Philipp Plein also states that with his company's crypto policy, they have gained many new customers. Also, the famous fashion designer said that he personally owns 170 Bitcoin. He also stated that his mother also holds cryptocurrencies.

What Philipp Plein describes very clearly states what the future of shopping will be. Many companies entering the crypto market are very pleased with the developments and state that cryptocurrencies play an important role in the growth of their companies. Also, many people in the crypto market prefer to pay with cryptocurrencies, and some giant companies are aware of this potential.

If companies want to grow further in the future, they will have to adopt cryptocurrencies. Otherwise, they may lose customers and become smaller. Also, when they adopt cryptocurrencies, they will be able to grow more and gain more customers. It's really obvious, the rest is up to them.

The future of shopping will be shaped in the crypto market. And I think companies will have to enter the crypto market to survive, whether they want to or not. What do you think about it?

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