The brand has partnered with Coinify, a crypto payments platform owned by Voyager Digital.
Digital currency is now being accepted for purchases in many of the group’s brick-and-mortar retail stores around the world, as well as on the brand’s ecommerce platform.
Philipp Plein International Group includes luxury German brand Philipp Plein, as well as its fashion subsidiaries Plein Sport and Billionaire.
“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 in order to adopt this new type of currency,” said eponymous founder Philipp Plein. “I am very pleased to be able to offer to our customers this additional payment tool and the flexibility associated with it.”
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.