08.19.23
A July cyberattack on the Estée Lauder Cos. system was contained, according to CFO Tracey T. Travis during the company’s Q4 conference call with analysts.
As previously reported, ELC identified the incident last month. The company hasn’t confirmed the perpetrator, but ALPHV/BlackCat and Clop groups claimed credit for the attack on the dark web. In addition to ELC, the groups hit an airline, a communications regulator, hard drive storage provider and others. ALPHV/BlackCat and Clop are ransomware perpetrators. Clop is based in Russia.
Following the attack, ELC said it took down some of its systems, started an investigation with a third-party cybersecurity expert and is coordinating with law enforcement.
“After becoming aware of the incident, we proactively took down some of our systems,” explained Travis. “We began bringing our systems back online within days, which limited the incident’s impact on the company’s operations. Based on the information available to-date we believe the incident is contained.”
ELC contained the damage in FY2023, too. Q4 sales were up—although the company lowered sales estimates for FY2024.
See also:
Cybersecurity Incident at Estée Lauder Cos.
Estée Lauder Cos. Sales Fall 10% in Fiscal 2023
As previously reported, ELC identified the incident last month. The company hasn’t confirmed the perpetrator, but ALPHV/BlackCat and Clop groups claimed credit for the attack on the dark web. In addition to ELC, the groups hit an airline, a communications regulator, hard drive storage provider and others. ALPHV/BlackCat and Clop are ransomware perpetrators. Clop is based in Russia.
Following the attack, ELC said it took down some of its systems, started an investigation with a third-party cybersecurity expert and is coordinating with law enforcement.
“After becoming aware of the incident, we proactively took down some of our systems,” explained Travis. “We began bringing our systems back online within days, which limited the incident’s impact on the company’s operations. Based on the information available to-date we believe the incident is contained.”
ELC contained the damage in FY2023, too. Q4 sales were up—although the company lowered sales estimates for FY2024.
See also:
Cybersecurity Incident at Estée Lauder Cos.
Estée Lauder Cos. Sales Fall 10% in Fiscal 2023