Cyberattack Disrupts Vans Holiday Order Fulfillment
VF Corp, the parent company of Vans and North Face, is facing fallout from a cyberattack that was detected on Dec. 13. The company is in the middle of investigating “unauthorized occurrences” that disrupted some operations, specifically Vans’ ability to fulfill sneaker orders from its e-commerce site.
Like many cyberattacks, the hacker encrypted IT systems and stole data from the company, including personal information. While business operations have been affected, VF Corp says it’s unclear if the incident will also have financial implications.
According to Reuters, “Shares of VF Corp were down about 5% in premarket trade after the company said in a regulatory filing that the incident was likely to continue to have a material impact on its business.”
Although VF Corp has jumped in as fast as it could, it’s tough to say how long it will take to recover. According to various reports, it can take a business an average of 20-26 days to rebound from an attack. However, this can vary and even take several months. In May 2022, HanesBrands suffered a ransomware attack that cost the company roughly $100 million in global sales. It wasn’t until late 2023 that the company received $20.5 million in insurance compensation.
While it can seem like only large organizations are susceptible to attacks like these, apparel decorating shops doing business online need to stay vigilant. Check out Apparelist podcast episode No. 8: “Tips to Protect Your Apparel Decorating Business Against a Cyber Attack” to learn how.