subject: Fashion Mogul Peter Nygård Honored for Industry Leadership [print this page] Fashion Mogul Peter Nygrd Honored for Industry Leadership
University of North Dakota Entrepreneur Hall of Fame inductee; the City of Toronto Award recipient for professional excellence and service to Canada; commemorative Medal Award recipient from the Government of Canada. All titles bestowed onto Peter Nygrd before March 24, 2011, when at the Canadian Manufacturing & Exporters Gala Awards Dinner in Winnipeg, Canada, the fashion mogul and founder of Nygrd International was honored yet again for his unparalleled work ethic and exceptional business sense. Nygrd was inducted into the Manitoba Manufacturers Hall of Fame.
"It is an honor and I am a very proud recipient," said Nygrd of the award. "Manitoba has done an outstanding job in manufacturing over the years and we are proud to have been a part of that. It's a thrill of a lifetime to be so recognized by your own community."
The award given on behalf of the Canadian Manufacturers & Exporters celebrates visionaries who have demonstrated leadership in the development of their companies and success in their industries. Criteria used to determine recipients for the award include: implementation of new or revolutionary products or processes within a chosen industry; a demonstrated mentor to youth and students; and integration within the Canadian community. Nygrd possesses all of these in spades.
His story is a classic rags-to-riches tale the Finnish immigrants' son, who stitched up an empire out of women's clothing and is now the quintessential self-made man. He borrowed $8,000 capital to purchase 20 percent of a women's garment manufacturer with $800,000 in annual sales, which within a few years he owned outright. Renaming it "Nygrd" and saving it from near bankruptcy, Nygrd International is worth more than $1 billion and the largest producer of women's apparel in Canada. Though headquartered in Winnipeg, the company has been selling modestly priced women's wear in America for 30 years and is now in 30 states, including in many Dillard's stores.
While it was Nygrd's good taste in fashion that helped his company to flourish, it was his remarkable entrepreneurship skills that made him one of the most distinguished businessmen in the world. His work ethic includes an unscrupulous attention to detail and 14 to 16 hour workdays, seven days a week. Nygrd pioneered the synthesis of fashion and technology, creating a new standard for industry that has proven unparalleled. It's this dedication to quality service and innovation that's made Nygrd International a benchmark for many others.
Nygrd has since become one of the most influential names in fashion. The company has expanded from a simple collection of pants and colored separates to a fashion repertoire that includes outerwear, swimwear, footwear, jewelry, accessories and soft home furnishings. Nygrd utilizes his wide breadth of influence to support the cause closest to his heart: breast cancer research. Through $2-million-a-year donations, the creation of an endowment fund at CancerCare Manitoba and a myriad of fundraisers to find a cure, Nygrd has shown the world that the greatest wealth is giving back.
For more information, visit www.nygard.com or become a fan on Facebook.
