How Peter Nygard saved his business

So how did fashion mogul Peter Nygard save his business when faced with threats to his business in the late 80s?  Remember, department stores were looking to move away from polyester products, which was Nygard’s core product.

Well, the first thing he did was pay attention to his intuition that told him the industry was making some moves that could drastically impact his business.

The way Nygard saved his business was to use his intuition, conduct the risk assessment, identify a strategy to mitigate the threats, ensure long-term survivability, and put himself back on top as the industry leader in the new trend.

This was Nygard’s approach to every situation because the bottom line for him is to always be on top. Is it any wonder that he took a failing business to a level that reaps rewards of hundreds of millions fifty years later?

Read the full story here.