Kering Customer Data Stolen, Amid Surge In Cyberattacks Against Luxury Brands

Core Insights - Kering, the parent company of luxury brands like Gucci and Saint Laurent, confirmed a cyberattack in April that compromised consumer data of potentially millions of customers [1][4] - The hacker group Shiny Hunters claimed responsibility for the breach, stating they have access to 7.4 million unique email addresses [3] - Kering has assured customers that no financial data was stolen, but critical personal information such as names, email addresses, and phone numbers were compromised [2][3] Cybersecurity Threats - The luxury sector is increasingly targeted by cybercriminals, with recent attacks on other major brands like LVMH and Chanel highlighting the vulnerability of high-end retailers [5][6] - The nature of luxury clientele, with spending ranging from $10,000 to $86,000, makes their data particularly valuable for scams and extortion [6] - Cybersecurity is a significant concern for luxury brands, impacting business continuity and brand reputation [9] Financial Impact - Kering reported a 16% decline in sales to $9 billion (€7.6 billion) in the first half of 2025, following a 12% drop to $20.4 billion (€17.2 billion) the previous year [10] - The luxury industry is anticipating a sales decline of 2% to 5% this year, compounding the challenges faced by Kering [10] Technology Investment - Luxury brands are investing more in customer-facing technology (40%) compared to cybersecurity (21%), which may leave them vulnerable [7] - A significant portion of technology investments is directed towards external vendors (68%), potentially creating security risks [7]