Despite all the hype that Bitcoin is some magical new non-governmental global currency of the future, not many people are really, actively using it – and there are even fewer places where they can be spent. But if you’ve got Bitcoins burning a hole in your pocket, you could shop for new threads at Bitfash. It’s a new fashion e-commerce site created by a startup team of three people spread across Australia and China.
For the moment, Bitfash stocks men’s and women’s clothing from three affordable to mid-range fashion brands: Zara, Forever 21, and Net-a-Porter’s ‘Mr. Porter’. More will be added in due course . Most of the site’s customers are from the US and various Asian nations.
Bitfash co-founder Chris Woods tells us that the team first contemplated Bitcoin and then considered a niche to fill with this currency:
We started following the Bitcoin news late last year and in doing so, tried to get across as much detail as we could to understand firstly what the currency was all about, but also the outlook and potential to undertake an entrepreneurial venture in this space. Our idea to link fashion with Bitcoin came from the observation that numerous users were sitting on considerable wealth in Bitcoins but had no specialist place to purchase fashion using their Bitcoins – we sought to fill this niche and meet the demand in the market in this respect.
Chris says that he and his startup are all believers in the digital currency, and they both hold Bitcoin and use it for goods and services.
Bitfash will add a fourth fashion brand very soon. Since starting up in April this year, the startup e-store has been evaluating which retailers fit their niche whilst also receiving lots of offers from online boutique retailers who want to come onboard the site.
Expats in China who want to buy some home gadgets with their Bitcoins could check out Iwannabuy, a Beijing based e-commerce site that we featured a while ago.
- But those brands don’t endorse Bitcoin usage by their presence on the site, and the clothes might not be available in countries where the retailers restrict sales. ↩