Philipp Plein Expects to generate $21M revenue because of Crypto payment

The German fashion designer company is highly eager with its belief in the crypto payments adoption.

At the present time, crypto adoption is surging rapidly because of better use cases like investment and efficient payment methods. And also underlying technology blockchain is getting huge traction in the world, among every sector because of the accuracy of online data. In the past few years, many companies entered in the crypto industry with the payment option strategy.

Philipp Plein is one of the leading fashion designer companies. The company entered the crypto industry in August 2021. With the crypto payment methods, the company started to allow its customers to buy clothes, shoes, and other products in more than 15 digital assets. 

Recently Philipp Plein, founder of Philipp Plein, appeared in an interview with Bloomberg and confirmed that 3% of the 2021 revenue, $105 million, was part of the crypto payments settlement. 

Philipp said that figures will change with a significant difference and will reach around $21 million for this year. 

“We saw there was a big audience within the crypto community itself, so we gained a lot of new clients.”

This German designer is a pro-crypto supporter. On one side, Phillip added crypto in company’ payment methods, on the other side Phillip held 170 BTC, worth approximately $6.6 million. 

Last summer, Philipp said that he is highly optimistic about the crypto based options. He also believes that crypto introduction in the company will generate more revenue and more opportunities for the clients, to provide a better service experience.

Philipp Plein is not only a fashion designer company, which has hands in crypto but also many other popular companies are active with crypto payment methods. 

Around two months after Philipp Plein, PacSun entered into a partnership with BitPay payment company to accept payments in cryptocurrencies.

At that time, Brienne Olson, president of PacSun, stated that adding crypto payments to the payment methods is a step to go with modern technology and time. 

“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers.”

Read also: Panama may allow businesses to use crypto in payment methods