December 18, 2023 at 01:59PM
VF Corporation, a Colorado-based global apparel firm with 13 brands, including Supreme and The North Face, experienced a cyberattack on December 13, 2023, causing operational disruptions. The company is working to restore IT systems and minimize impact on retail and e-commerce operations, but the full extent and impact of the breach are still being assessed.
Meeting Notes Summary:
– VF Corporation, owner of brands like Supreme, Vans, Timberland, and The North Face, disclosed a security incident causing operational disruptions.
– The Colorado-based apparel firm owns 13 globally recognized brands, employs 35,000 people, and has an annual revenue of $11.6 billion.
– In a disclosure filed with the U.S. SEC, VF informed shareholders of a cyberattack on December 13, 2023, which resulted in encrypted computers and stolen personal data.
– The stolen data’s impact is uncertain, and while it resembles a ransomware attack, no group has claimed responsibility.
– The incident’s significant impact on the company’s operations is expected to have a lasting effect and may affect the fulfillment of online orders and retail operations.
– VF Corp is working to bring IT systems back online, implement workarounds, and assess the full extent of the breach’s impact on financials and operations.
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