US, November 30, 2016 at 17:53 GMT
Fairfield, Iowa - November 29, 2016
For the very first time, you can now use Bitcoins to purchase lingerie directly from a major lingerie website. This development opens more doors for Bitcoin-users and comes at a time when Bitcoin is gaining more significance in the world of commerce. Lila Williams, founder, and CEO of panties.com explains in an interview, why she opened her lingerie business to Bitcoin. She also chips in some wisdom, from her over 30 years of experience in the direct response and e-commerce business, about the future of Bitcoin.
Q: How did you come across Bitcoin?
Lila: I heard about Bitcoin a long time ago, but did not understand what it was. I think this is the problem with most people and the reason they are missing out on the amazing opportunities offered by Bitcoin.
On December 15th last year (2015), we received an email from Playboy, severing our advertising relationship of more than two decades. Playboy went 'Workplace Friendly' as of January 2016, and would no longer accept photo adverts of a model in a panty and bra. We consequently lost the majority of our revenue, and out of necessity, explored new avenues for business. I thought of Bitcoin, and after a careful analysis decided that accepting it would be a great addition, especially since no other lingerie e-commerce site is accepting it.
Q: How long did you advertise on Playboy?
Lila: We advertised on Playboy for 28 good years, and we were probably their most loyal advertiser.
Q: Is it true that you registered Panties.com as far back as 1994?
Lila: Yes, I did. We were actually the first business to sell lingerie on the Internet, even before Victoria's Secret. The Internet back then was not as colorful as it is today, but we made it work. I also invented the lingerie subscription service with Panty of the Month® in 1984. We were the first to sell lingerie on a monthly subscription basis. Back in the 80’s, it was very controversial. We ended up on CNN, MTV, USA Today and were profiled by the Wall Street Journal. I still have all the articles! It was a heady time.
Q: What exactly made you decide to accept Bitcoins on your website, panties.com?
Lila: I’m an open minded person, do not stick to old traditions, and try to keep up with new trends. I like to keep an eye on new developments. We were one of the first to have a fax machine for customers, to computerize a small business, and to put a web address in a print ad. People used to call me asking how we made money off the internet, and I told them to put their web address in their print ads. They were stunned, no one had thought of such a thing in 1994. Back then we actually had to put http://www.panties.com in the print ads.
Forward thinking was probably the reason we were the first to sell lingerie on the Internet, as well as now becoming the first lingerie business to integrate a Bitcoin payment gateway on our website, again beating Victoria's Secret in innovation. I see great potential in Bitcoins, and I'm convinced that it is the future. That is why we integrated it. We have accepted Bitcoin for over eight months now, but very few people avail themselves of this gateway because few people know where they can spend Bitcoin. So we have to get the word out.
Q: Why do you say that Bitcoin is the future?
Lila: From my opinion, the decentralization of transaction records, based on blockchain technology, puts Bitcoin beyond the total control of any central bank, thereby making it insusceptible to systematic inflation. Bitcoin is, therefore, a more perfect store of value than most national currencies of the world. I also see a very bright future for other blockchain-based applications as well.
Q: Do you currently have any ongoing offers or specials?
Lila: Yes, of course. We have an offering 50% off on many styles of Christmas Lingerie, and we’re offering an extra 10% off and a free $10 panty specifically for Bitcoin users (with coupon code bitcoin). Our Christmas Panty of the Month® was designed exclusively for us in Europe and is not available elsewhere. Bitcoin users now have the perfect excuse to get gorgeous slinky lingerie for their sweethearts this Christmas
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