Hong Kong Investigates LVMH Over Data Breach Targeting Citizens' Data

LVMH Moët Hennessy Louis Vuitton (LVMHF) is being investigated by Hong Kong authorities regarding a June cyberattack that compromised the data of customers in several countries, including Hong Kong.

According to a Reuters report, Hong Kong's privacy watchdog noted that data of 419,000 customers in the city-state was exposed, including names, passport details, addresses, email addresses, phone numbers, shopping history, and product preferences.

LVMH submitted the data breach incident to Hong Kong's Office of the Privacy Commissioner for Personal Data on July 17. The company's French head office discovered suspicious activities on its computer system on June 13 and disclosed them on July 2.

The breach has reportedly affected customers in the UK as well as South Korea and Turkey.

On Stocktwits, the retail sentiment for LVMHF remained 'neutral,' unchanged from a week ago. The company's over-the-counter U.S. shares, LVMHF, are down 15% year-to-date.

The cyberattack on the world's largest fashion brand is part of a broader wave of breaches that have increasingly targeted retailers and consumer brands in recent months.

UK retailer Marks & Spencer was recently forced to take its website offline for nearly seven weeks following a major cyberattack — an incident the company expects will lower its annual operating profit by over $400 million.

U.S. lingerie company Victoria's Secret (VSCO) and German sportswear brand Adidas have also been victims of cyberattacks. LVMH's Christian Dior disclosed a cyberattack in May.

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