logo
Cartier reports some customer data stolen in cyberattack

Cartier reports some customer data stolen in cyberattack

Fashion Network2 days ago

Cartier, the luxury jewelry company owned by , had its website hacked and some client data stolen, it told customers, according to an email seen by Reuters.
The company, whose watches, necklaces and bracelets have been worn by Taylor Swift, Angelina Jolie and Michelle Obama, said 'an unauthorized party gained temporary access to our system.'
'Limited client information,' such as names, email addresses and countries, had been obtained, said Cartier in the email sent to customers on Tuesday.
'The affected information did not include any passwords, credit card details or other banking information,' Cartier said, adding it had since contained the issue.
The company said it had further enhanced the protection of its systems and data, as well as informed the relevant authorities, and was also working with 'leading external cybersecurity experts.'
Cartier did not immediately respond to a request for comment.
The attack is the latest case of a company being targeted by cybercriminals.
British retailer Marks & Spencer said last month a 'highly sophisticated and targeted' cyberattack in April will cost it about 300 million pounds ($405 million) in lost profits.
According to Le Monde newspaper, French luxury house Dior, owned by LVMH, also reported last month that hackers had stolen data from its customers but insisted no financial data was involved.
Fashion brand The North Face, owned by VF Corporation, has also emailed some customers, saying it discovered a 'small-scale' attack in April this year.
The company told customers the hackers used 'credential stuffing,' trying usernames and passwords stolen from another data breach in the hope customers have reused the credentials across multiple accounts, the BBC said on Tuesday.
London department store Harrods also said last month that hackers had attempted to break into its systems, following incidents at Marks & Spencer and the Co-op Group.
($1 = 0.7406 pounds)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US demand fuels K-beauty boom despite trade tensions
US demand fuels K-beauty boom despite trade tensions

Fashion Network

time20 minutes ago

  • Fashion Network

US demand fuels K-beauty boom despite trade tensions

Emboldened by roaring online success in the U.S., South Korea's cosmetic startups are expanding their bricks-and-mortar presence in the world's biggest consumer market, confident their mass appeal will offset the hit from tariffs. Company executives have told Reuters that brands like Tirtir, d' Alba, Torriden, and Beauty of Joseon are in talks with major retailers to stock their U.S. shelves. Korean beauty, or 'K-beauty,' products are able to compete globally on quality, price and snappy marketing and have benefited greatly from the success of the Asian export giant's other consumer hits, namely its music, film and television. 'K-culture — things like PSY in the past, BTS, and then Korean dramas and films like 'Parasite' — those really paved the way,' Tirtir CEO An Byung-Jun said. 'In the U.S. market, there was already growing interest in South Korea. Then Korean cosmetics entered the scene. The quality was good, but the prices were lower than the existing luxury brands like L'Oréal or Estée Lauder.' Tirtir's profile shot up last year following the viral online success of its cushion foundation shades designed for dark skin. The product will be sold at some U.S. stores of Ulta Beauty this summer, An told Reuters, adding it aims to double U.S. sales this year. Retailers in the U.S. from Sephora and Ulta Beauty to Costco and Target are in talks with Korean cosmetics brands to launch sales in their physical stores, according to Reuters' interviews with a dozen people including cosmetics company CEOs, executives and industry experts. They also expect Korean brands to weather tariffs better than rivals, thanks to higher-margin business models. Many of them outsource production to contract manufacturers like Cosmax and Kolmar, dubbed the Foxconns of fast beauty, to keep costs down. South Korea overtook Germany to become the world's third-largest beauty product exporter after France and the U.S. in 2024. Four-fifths of its $13 billion cosmetics output are for exports, which e-commerce sales have predominantly driven. Yuliet Mendosa, a 25-year-old visiting Seoul from America, is a fan of K-pop boy band BTS, which led her to greater interest in K-beauty products. 'They go straight to the point to fix what you need to fix and your skin,' she said at an Olive Young store. Changing landscape The U.S. push comes at a tricky time for the world's big exporters with President Donald Trump 's sweeping tariffs unsettling global trade. But while the levies create uncertainty for Korea's beauty exporters, strong demand is expected to mitigate some of this, executives say. South Korea's dominant beauty retailer Olive Young plans to set up its first U.S. store in Los Angeles as early as this year, Jin Se-hoon, executive vice president of the company's global platform business, told Reuters. 'The U.S., especially California, has by far the most customers for our global online shopping platform,' Jin said. He said Washington's tariffs were a burden but not enough to hurt K-beauty's popularity and value-for-money proposition. Their U.S. expansion, despite tariffs, also seeks to sustain momentum after exports to China, the biggest overseas market for K-beauty, fell due to geopolitical tensions and competition. Skincare brand d'Alba, owned by d'Alba Global and known for its vegan mist serum and sunscreens, is in talks with Costco, Ulta Beauty and Target for retail distribution, the company said. According to a Sephora spokesperson, LVMH 's cosmetics chain Sephora plans to launch two new Korean brands, Torriden and Beauty of Joseon, this summer. Costco, Target and Ulta did not respond to requests for comments. Tirtir's An said the baseline 10% tariff that the U.S. has already imposed is 'endurable,' although the planned 25% tariff on South Korean products due in July may force the company to raise prices 'a little bit.' Seoul, a major U.S. ally, is seeking tariff exemptions in trade talks with Washington. The Founders—the maker of Anua skincare products, which hit Ulta Beauty shelves this year—also have more room to absorb higher tariffs than rivals, its strategy team leader Jung Jun-ho said. The company posted an operating profit margin of more than 30% last year. Niche brands According to official data, South Korea replaced France as the biggest cosmetics exporter to the U.S. in 2024, driven by online sales through Amazon. The top five Korean cosmetics brands in U.S. e-commerce—which include Beauty of Joseon, Medicube and Biodance—saw online sales grow 71% on average over the past two years, outperforming the overall U.S. market's 21% growth, according to Euromonitor data. The top five French brands—which include L'Oréal Paris, Dior and Lancôme—posted 15% growth over that period. Social media has played a big part in Korea's success. 'Nowadays, a single viral TikTok video or influencer endorsement can turn a product into a global bestseller before it even launches outside Korea,' said South Korea-based beauty marketer Odile Monod. However, longer-term success will require increased physical store sales, said Jason Kim, chief executive officer of cosmetics distributor Silicon2. There are already signs of growth plateauing for some companies, such as startup COSRX, now part of Korean cosmetics giant Amorepacific, as competition heats up and cheaper alternatives emerge, analysts said. For now, investors remain upbeat about Korean potential, with shares of d'Alba Global more than doubling since their debut last month. 'The K-beauty trend is strong,' Silicon2's Kim said. 'But indie brands will face challenges too.'

Prada to acquire 10% stake in leather manufacturer Rino Mastrotto
Prada to acquire 10% stake in leather manufacturer Rino Mastrotto

Fashion Network

time20 minutes ago

  • Fashion Network

Prada to acquire 10% stake in leather manufacturer Rino Mastrotto

The Prada Group is strengthening its presence in the leather supply chain with a new strategic agreement signed with Rino Mastrotto. The deal, which brings the Milanese luxury group into the capital of the Vicenza-based company with a 10% minority stake, includes the contribution to Rino Mastrotto Group of 100% of Conceria Superior SpA—subject to the purchase of the shares not yet owned—and of Tannerie Limoges. The operation further solidifies the relationship between the two companies, supporting long-term strategic development. The closing is expected between the end of the second and the beginning of the third quarter of 2025, subject to certain conditions being met. "By entering Rino Mastrotto, we are strengthening our control over a highly strategic phase of the production process. Our groups share a passion for quality, innovation, and sustainability, and we are pleased to foster synergies and consolidation to reinforce the supply chain and the Made in Italy label," said Patrizio Bertelli, chairman and executive director of the Prada Group. "The Prada Group's entry into our shareholding structure validates our longstanding collaboration and mutual respect while bringing a broader industrial vision focused on long-term growth," said Matteo Mastrotto, CEO of Rino Mastrotto Group. The Prada Group acquired a stake in Conceria Superior in 2022. Founded in the 1960s, the company specializes in calfskin processing and is now one of the leading tanneries in the Santa Croce sull'Arno district. On the other hand, French lambskin specialist Tannerie Limoges sold a majority stake to Prada in 2014. Based in Trissino, the Rino Mastrotto Group is backed by Renaissance Partners and the Mastrotto family. The company employs over 1,300 people across five continents and generates approximately €360 million. annual revenues Its portfolio includes high-profile businesses such as Basmar and Pomari, Nuova Osba, Tessitura Oreste Mariani, and Mapel.

Prada to acquire 10% stake in leather manufacturer Rino Mastrotto
Prada to acquire 10% stake in leather manufacturer Rino Mastrotto

Fashion Network

time2 hours ago

  • Fashion Network

Prada to acquire 10% stake in leather manufacturer Rino Mastrotto

The Prada Group is strengthening its presence in the leather supply chain with a new strategic agreement signed with Rino Mastrotto. The deal, which brings the Milanese luxury group into the capital of the Vicenza-based company with a 10% minority stake, includes the contribution to Rino Mastrotto Group of 100% of Conceria Superior SpA—subject to the purchase of the shares not yet owned—and of Tannerie Limoges. The operation further solidifies the relationship between the two companies, supporting long-term strategic development. The closing is expected between the end of the second and the beginning of the third quarter of 2025, subject to certain conditions being met. "By entering Rino Mastrotto, we are strengthening our control over a highly strategic phase of the production process. Our groups share a passion for quality, innovation, and sustainability, and we are pleased to foster synergies and consolidation to reinforce the supply chain and the Made in Italy label," said Patrizio Bertelli, chairman and executive director of the Prada Group. "The Prada Group's entry into our shareholding structure validates our longstanding collaboration and mutual respect while bringing a broader industrial vision focused on long-term growth," said Matteo Mastrotto, CEO of Rino Mastrotto Group. The Prada Group acquired a stake in Conceria Superior in 2022. Founded in the 1960s, the company specializes in calfskin processing and is now one of the leading tanneries in the Santa Croce sull'Arno district. On the other hand, French lambskin specialist Tannerie Limoges sold a majority stake to Prada in 2014. Based in Trissino, the Rino Mastrotto Group is backed by Renaissance Partners and the Mastrotto family. The company employs over 1,300 people across five continents and generates approximately €360 million. annual revenues Its portfolio includes high-profile businesses such as Basmar and Pomari, Nuova Osba, Tessitura Oreste Mariani, and Mapel.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store