Retailers Are Finding That Data Vulnerability Can Undo Years of Brand Equity

Data breaches, as we've all learned, can be #EpicFails with far-reaching and destructive implications for brands. Once sensitive consumer information — e.g., payment card data, home addresses, phone numbers — is stolen, the ramifications can include federal investigations, appearances by company execs before congressional committees, class-action lawsuits and months of scathing headlines, all of which can precipitate a major loss of consumer trust. "Big companies spend millions, billions of dollars building their brands over 20 [years], 30 [years], 40 [years], 50 [years], 100 years," says Eric Chiu, president and co-founder of cloud security automation firm HyTrust.