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.
HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in-the-know about trends across industries.
LVMH reported $17.5 billion USD in Q2 revenue
LVMH‘s €14.7 billion EUR (approximately $17.5 billion USD) revenue is roughly 14 percent higher than numbers reported in the same-period two years ago. Its most profitable label, Louis Vuitton, reported record sales and profitability in the first half of 2021.
The electric car manufacturer earned $1.1 billion USD for the first time. The number is ten times the number recorded for last year’s reported earnings.
Overall, 2021 saw a rise of 18 percent in revenues for Microsoft at $168.1 billion USD, while profits soared by 38 percent to $61.3 billion USD. Much of the company’s recent success can be attributed to its expansion on its Intelligent Cloud business, which grew 30 percent over the past year.
Alphabet saw a 62 percent increase in revenue over the second quarter year-over-year. Net income also rose from $7 billion USD to $18.5 billion USD compared to the same period a year ago.
Bitcoin last rose above $40,000 USD in mid-June. Speculation over Amazon‘s foray into digital currency and news last week that Elon Musk and his companies still hold bitcoin may have led to the price rise.
Titled Louis: The Game, it was created in celebration of the upcoming 200th birthday of the house’s founder. The game is set to feature a number of embedded NFT’s.
Dubbed the “Stan Lee Legacy Collection,” each painting was selected and signed by Lee before his passing in 2018. The auction offers both real-life artworks and blockchain-backed NFTs.
The popular no-fee trading app priced its shares at $38 USD each ahead of its debut on the NASDAQ. It has begun trading under the symbol “HOOD.”
PATREOTS will be 3D scanning and digitizing a large portion of its archive to produce an online digital library. The person who purchases the 3D scan NFT will also be given the coat in the final sale.