Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before the pandemic.
HYPEBEAST has rounded up the top business stories of the week so you can stay in-the-know about trends across industries.
1. Gucci remains the world’s hottest brand for Q1, according to Lyst Index
For Q4 2020, the Alessandro Michele-helmed label took the top spot for the second consecutive year. Gucci even managed to push major brands like Nike, Off-White™ and Balenciaga down the list.
2. Crocs saw massive growth in Q1 sales
Crocs reported growth across every category in the first quarter of 2021, including a 64 percent increase in revenue. Several eye-catching collaborations this year helped propel the brand’s status.
3. Apple’s revenue hit a new March quarter record
Apple posted a March quarter record revenue of $89.6 billion USD, up 54 percent year over year. iPhone sales accounted for $48 billion USD in revenue.
4. Amazon saw profits that beat pre-pandemic levels
According to its latest earnings report, Amazon profited $26.9 billion USD between April 2020 to March 31, 2021 — higher than the same period over the last three years. Net sales climbed 44 percent to $108.5 billion USD in the first quarter of 2021.
5. Ethereum reached a new all-time high after an impressive week for crypto
Ether, the cryptocurrency tethered to the Ethereum blockchain, reached another record high of $2,800 USD before dipping slightly. The popular coin has jumped 15 percent week-on-week.
Source: Read Full Article