THE WHAT? Natura has announced that a ‘cyber incident’ has partially hit Avon operations after the attack halted some of its systems, according to a report by Reuters.
THE DETAILS Shares of the Brazilian beauty giant were trading 1.8% down on Tuesday at 40.46 reais following the attack.
Natura stated, “Avon is assessing the extent of this incident and working diligently to mitigate its effects, making every effort to normalize its operations.”
The company did not disclose how Avon operations were affected, or when it would be fixed.
THE WHY? According to Brazilian brokerage Guide, the cyber incident has highlighted a “weakness in the company’s digital security system,” stating that the Natura announcement was a negative for the company.