Peter Nygård is one serious business man and self made. He works up to 16 hours a day and has annual sales in ready-to-wear women’s apparel “approaching the $1 billion mark.”
This is partly due to opening of the 2,500 square foot flagship store at 1431 Broadway in southern Times Square New York and from an increase in sales of 25% providing the largest six month revenue in the company’s 42 year history.
The business’ success is also down to planning and some smart technology such as the Product Development Management System (PDM) and the Automatic Reorder of Sales system known as Arts2.
The PDM is software which accurately costs designs before manufacture while Arts2 integrates CAD/CAM systems connected with store cash registers to keeps a track of point-of-sale data to automatically generate re-orders of stock creating a highly efficient business.
Throw in a contributing role to Canada’s free trade agreement with the US (NAFTA) as the Chair to the advisory committee on future Canadian long-term Industrial Strategy in 1982 and active involvement for Canada’s globalization strategies and you have an intelligent, switched on business.
But the most impressive thing about Nygård is its family ties.
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