Business: Here Are Our Top Stories of the Week

Gucci remained the hottest brand for Q1 while iPhones boosted Apple revenue.

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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.

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