Sunday, October 1, 2023
HomeSECURITYCosmetics giant Estée Lauder faces cyberattack

Cosmetics giant Estée Lauder faces cyberattack


Cosmetics giant Estée Lauder faces cyberattack

The value of the company’s shares fell by 2.32% in light of the news about the cyberattack.

Cosmetics company Estee Lauder said on Tuesday that hacker obtained access to some data from its systems, as a result of which part of the company’s business operations were and are expected to be further violated. The company said it is working to understand the nature and extent of the stolen data. She did not disclose further details about the impact on her operations. Amid the cyberattack, the company’s shares fell 2.32%.

The owner of MAC Cosmetics said it is working to restore the affected systems and has taken steps to ensure the safety of its operations. The New York-headquartered company also shut down some of its systems to mitigate the impact of the incident, adding that it has opened an investigation by cooperating with law enforcement as well as cybersecurity experts.

In May, the cosmetics giant was forecasting weaker sales and profits for the year than previously expected, attributing this to a slow recovery in the duty-free and travel markets, especially in Asia.

It is not yet known who is behind the hacker attack and what data was stolen. It is possible that hackers could use the stolen information for blackmail, extortion, or black market sales. This is not the first time Estee Lauder has been exposed to a data breach. In February 2020, it was discovered that open company database contained 440 million records, including customer email addresses.

Estée Lauder is an American multinational manufacturer of prestige skincare, cosmetics, fragrances and hair care products. Owns several brands that are distributed worldwide through digital and retail channels.

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