Philipp Plein Becomes First Major Fashion Brand to Accept Crypto Payments

The retailer will accept 15 cryptocurrencies for both online and in-store purchases.

AccessTimeIconAug 5, 2021 at 10:03 p.m. UTC
Updated May 9, 2023 at 3:22 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Philipp Plein will become the first major fashion brand to accept cryptocurrency as payment.

The popular, global label, named for its German designer but based in Switzerland, will accept 15 cryptocurrencies, including bitcoin and ether, the company said Tuesday.

  • Bee Movie Script Buzzing on Ethereum; Robinhood Benefits From ‘Monster’ Crypto Cycle
    02:09
    Bee Movie Script Buzzing on Ethereum; Robinhood Benefits From ‘Monster’ Crypto Cycle
  • Spot Bitcoin ETFs See Record $1B in Net Inflows; Ethereum's 'Dencun' Upgrade Goes Live
    01:59
    Spot Bitcoin ETFs See Record $1B in Net Inflows; Ethereum's 'Dencun' Upgrade Goes Live
  • Colorado Securities Commissioner Addresses Crypto Projects Who Raise Capital via Tokens
    14:55
    Colorado Securities Commissioner Addresses Crypto Projects Who Raise Capital via Tokens
  • Would You Pay Your Taxes and DMV Fees With Crypto?
    00:59
    Would You Pay Your Taxes and DMV Fees With Crypto?
  • Crypto payments will be accepted both in Philipp Plein bricks-and-mortar retail stores and online. The brand has partnered with Coinify, a crypto payments platform owned by Voyager Digital. 

    Philipp Plein’s crypto payments is part of a larger trend in the fashion industry 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, are accepting cryptocurrency for payment. 

    The often-controversial brand, which is known for its over-the-top aesthetic, has long been an early adopter of technology in the fashion world and was one of the first brands to develop an in-house, e-commerce platform. 

    “I believe that cryptocurrencies are the future and my team and I have made a major commitment in time and resources, performing all necessary system modifications to adopt this new type of currency,” Plein said in a press release. 

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.