LVMH Suffers Another Cyberattack As Hacks Targeting Retail Brands Rise

LVMH Moët Hennessy Louis Vuitton SE (LVMUY), the world's largest luxury fashion goods company, has said that its Korean unit recently suffered a cyberattack, compromising some customer data.

The incident occurred on June 8 and was detected on July 2, the company stated in a press release last week. Financial information of customers, including passwords, credit card details, bank account numbers, and other financial account data, was not compromised.

The latest breach follows a surge in cyberattacks, particularly targeting retail brands.  

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.

In recent months, 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.

On Stocktwits, the retail sentiment for LVMUY remained 'neutral,' unchanged from the previous week.

"We are strengthening the security of our systems and working with the best experts in cybersecurity," LVMH said in a statement. The company did not disclose the number of consumers affected or the possible source of the hack.

The incident may raise concerns, as the luxury market is under pressure amid weak demand trends, with U.S. tariffs adding uncertainty to an already volatile economic environment plagued by wars and high inflation.

LVMH recently flagged weakness for the ongoing quarter, noting particular underperformance in China, and indicated that it may raise product prices to offset some of the headwinds.

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