On the street who like fashion houses Gucci, Moncler Y Bulgari Share, as a fan of Bitcoin and Co. you can get your money’s worth too. Because the German luxury fashion brand Philipp Plein invites wealthy crypto enthusiasts to shop with their favorite tokens. Between glitter and glamor, the logos of a total of 19 cryptocurrencies find their place in the showcase.
According to staff at the Berlin branch, the proportion of customers making crypto payments is (still) limited. However, there are some customers who go to the luxury store specifically “because they are really interested in crypto payments. Very few stores offer that, ”Philipp Plein said on the site.
Crypto payments in practice
The process is “very simple” and takes “an average of 15 minutes.” The website also states that with a purchase amount greater than 20,000 euros, certain data must be transmitted to the company to comply with KYC regulations, for example.
“We need all customer contact details, but that’s what they ask of us anyway,” said BTC-ECHO staff at the Berlin branch. “Then we will send an email to our operation. We get a link back and customers log in there and pay. Once the payment is made, you get [der Kunde] an invoice from us ”.
At the moment, the luxury brand is also working on optimizing the process. “Our operations team is working to improve the times so that they do not take between 15 and 20 minutes. It will only take 5 or 10 minutes, ”explained the store staff.
Just last summer, the luxury label caused a sensation in the crypto space with the announcement that it would now accept crypto currencies for payments, BTC-ECHO also reported. Not only did Philipp Plein himself reveal himself as a crypto investor, but he also referred to himself as the “King of Cryptocurrencies” on his label’s website.
Since then, all prices in the online store are also given in BTC. However, the fashion house currently accepts not only Bitcoin, but also 18 other currencies, such as Ethereum (ETH), Dogecoin (DOGE) or Polkadot (DOT).
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