On October 5, the youth fashion and retail brand Pacsun announced the company is now accepting cryptocurrencies via Bitpay’s payment services. Pacsun says the company has a youthful audience that is “very tech-oriented” and the firm has seen an “increasing desire towards cryptocurrency.”
Pacific Sunwear of California Goes Crypto
The American retail clothing brand, Pacific Sunwear of California, LLC, otherwise known as Pacsun, is now supporting crypto-asset acceptance. Founded in 1982, Pacsun has roughly 400 stores in all 50 states and in Puerto Rico.
The company has partnered with the crypto payments firm Bitpay and disclosed it will accept 11 different crypto assets including bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), wrapped bitcoin (WBTC), dogecoin (DOGE), and litecoin (LTC). Five different stablecoins pegged to the U.S. dollar will also be accepted by Pacsun.
“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers,” Brie Olson, the president of Pacsun said in a statement. “It’s incredible to pave the way for the fashion and retail industry, being the first to offer cryptocurrency payments through Bitpay, and we anticipate many other companies following suit considering the ease it brings to the checkout process.”
Pacsun ‘Sees an Increasing Desire Towards Cryptocurrency,’ Fashion Chain Believes It’s Critical to Keep With Lifestyle Trends
The announcement also notes that Pacsun believes it’s “just as critical” to keep up with the fashion trends as it is for them to keep up with lifestyle trends. The company has noticed these trends when they launched their new Pacsun Kids line of products alongside a collaboration with the ROBLOX metaverse. “Pacsun shares our goal to let everyone live life on crypto making them a natural addition to our growing list of top brands adopting cryptocurrency,” Stephen Pair, the co-founder and CEO of Bitpay remarked.
Pacsun co-CEO Michael Relich explained that Gen Z is the company’s primary consumer and the demographic is “very tech-oriented.” Relich said 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 witnessed demand from the young generations who want to pay for goods and services using digital currencies.
“Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer Bitpay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens,” Relich concluded.
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