UK fashion giant Asos shares tumble after reported cyberattack

UK fashion retailer Asos experienced a significant drop in its share price following a reported cyberattack on its systems, according to news reports on Tuesday. The company, which maintains its website is operational, has not yet commented on the alleged breach. An email sent to Asos' Data Protection Officer and IT department claimed the company's Snowflake cloud-based platform had been fully compromised.

The communication threatened to leak sensitive data unless the company contacted the attackers via a Telegram link. Cybersecurity analysts suggest this type of notification is aimed at creating panic and pressure on the company to make a hasty decision, rather than allowing for a considered response. Asos, established in 2000, boasts 17 million active customers worldwide and generated £2.48 billion in revenue, despite posting a net loss of £298 million in the 12 months ending August 2025.

The company's own brands comprise 40 percent of the total goods sold, while partner brands contribute the remaining 60 percent. Cybersecurity incidents have been on the rise globally, with the UK recently facing multiple attacks, including on Jaguar Land Rover, Marks & Spencer, Harrods, and Co-op food chain, as well as an attack on three British airports in August that resulted in the theft of personal data belonging to 8.7 million customers.