VF Corporation, a global apparel giant recognized for its iconic brands like North Face, Vans, Timberland, and Jansport, found itself at the center of a significant cybersecurity breach. On December 13, the company detected unauthorized activity within its information technology systems, signaling a material cyberattack. This breach, reported to the U.S. Securities and Exchange Commission (SEC) on the inaugural day of a new cyber incident reporting rule, involved a disruptive intrusion that encrypted portions of VF’s IT infrastructure, leading to data theft, particularly personal information.

As VF Corporation endeavors to restore affected systems and mitigate the incident’s impact, it faces challenges in fulfilling orders and serving customers during a crucial holiday shopping season.

Why it matters: The cyberattack on VF Corporation underlines the increasing susceptibility of major corporations, regardless of their market standing, to cyber threats. The incident coinciding with the introduction of new SEC reporting rules also emphasizes the necessity for timely disclosure of such incidents, aiming to provide investors with transparent information about potential business disruptions due to cyberattacks.

• The attack disrupted VF Corp’s ability to fulfill orders, potentially affecting the crucial holiday shopping period and prompting ongoing recovery efforts.

• VF Corp joins a list of major companies (Caesars, MGM, Clorox) that have faced cyber disruptions this year, reinforcing the growing concern about cybersecurity in various sectors.

• While details of the attack remain unclear, the incident highlights the potential vulnerabilities in the company’s IT systems.

• The incident occurred on the day the SEC’s new cyber incident reporting rules took effect, emphasizing the need for prompt disclosure of material cybersecurity incidents.

Go Deeper –> Apparel giant VF reports cyberattack on first day of SEC disclosure rule – The Record

Vans, Supreme owner VF Corp. says personal data stolen and orders impacted in suspected ransomware attack – TechCrunch

Vans owner VF Corp. shares tumble as it says cyberattack could hamper holiday fulfillment – CNBC