Clothing conglomerate VF Corp, parent company to popular brands such as Vans, North Face, Timberland, and more, revealed on Monday that it has fallen victim to a cyberattack.
The $7 billion company acknowledged the breach in a Securities and Exchange Commission filing Monday, stating that it first detected "unauthorized occurrences" in its IT systems on December 13.
While efforts were made to mitigate the damage, VF Corp found that hackers had not only encrypted some of its IT systems but also made off with personal data.
Despite VF-operated retail stores remaining open globally, the disruption has impacted the company's ability to fulfill orders. Customers can still make purchases from available merchandise and place orders on the brand's e-commerce sites, but the ability to fulfill these orders is currently compromised.
The company did not disclose information about the perpetrators behind the attack and remained tight-lipped on the potential impact on customer data.
As a result of the cyberattack, VF Corp cautioned customers on its brands' websites about "logistical disruptions" affecting delivery dates.
The company is actively working with external cybersecurity experts to respond to and mitigate the impact of the incident.
The clothing giant warned that the cyberattack is expected to have a "material impact" on its business until the issues are resolved.
Shares of VF Corp lost 6.8% in Monday morning trading.