The youth clothing retailer, Pacific Sunwear of California or Pacsun, will now start accepting Bitcoin and 10 more cryptocurrencies as a payment option. The payments will be through the Blockchain payment provider BitPay. This decision makes the retailer one of the first major entities in the fashion industry to explore payments in crypto.
Founded in 1982, Pacsun has roughly 400 stores across the United States. The American clothing brand says that it acknowledges that they have a youth audience that is “tech-oriented”. And the firm has also seen and took note of the rising adaptation of cryptocurrencies across the world.
“Pacsun prides itself on learning from its core consumer of Gen Z. With cryptocurrency being one of the major trends currently among that audience,”Pacsun
Pacsun, with the help of BitPay, will now accept a total of 11 cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), and Litecoin (LTC). Moreover, Pascun also adds five different stable coins clinched to the U.S. dollar to this list.
The brand said in a press release that they keenly noted that it’s “just as critical” to keep up with the fashion trends as it is to keep up with the lifestyle trends.
Pacsun co-CEO Michael Relich explained that the firm dedicates a lot of time and effort to “align with their lifestyles and resonate with them on a more personal level.” Pacsun has observed demand from the young generations who want to pay for goods and services using digital currencies.
It joins the extravagant Phillip Plein in accepting the tech-advanced payments, with the Swiss brand implementing the change back in August.