Peter Nygard’s Reputation As An Honest Broker Garnered Industry Participants’ Respect

One of the things that makes Peter Nygard unique as a businessman is that while he was driven to be the best, he always sought ways to make improvements in the apparel industry in Canada that would benefit even his competitors.

In a world where competition is everything and many businesses fight dirty, it’s a rare thing to care about other people in your industry. But not for one businessman: Peter Nygard cared.

In an effort to have everyone in the industry come together to make improvements in the
industry, early in his fashion career, Peter Nygard founded the Manitoba Fashion Institute with a mission of improving the economic climate for everyone. His industry work didn’t stop there.

Industry participants grew to respect Peter Nygard not just for his success, but for his sound ideas and desire to help everyone excel. The level of respect and trust Peter Nygard garnered among his peers meant they wanted him on practically every association board and industry organization that were instituted and developed over the years. Even in the industry organizations where Peter Nygard was not the president or chairman, he served on its executive board.

In discussing the ‘dark side of competition, Entrepreneur Kelly Richardson writing for Forbes expressed, “Sometimes evil competitors will try to destroy your good reputation, cause you direct financial loss or simply sabotage your business processes or tools. There’s no shortage of ways this can come to fruition…. It’s safe to say that some competitors will stop at nothing to ruin your business.” (“ The Dark Side of Business Competition and What to Do About It ”).

This is the norm for many industries. But for Peter Nygard, a business man with an uncommon kind-hearted nature, he wanted no part of a cut-throat industry culture. That is why he found ways to bring industry stakeholders together to work together to make sure the industry as a whole remained viable and sustainable.

Peter Nygard already had a reputation for being a fair and ‘honest broker’. So it’s no surprise that industry persons would be open to and accept his overtures for them to work together for everyone’s best interest. What made them really listen was Nygard’s ability to achieve the level of unprecedented business success that he had.

The fact that Peter Nygard was not afraid to work alongside the competition and help everyone to survive speaks once again to his caring nature and big-heartedness. It’s no wonder that industry leaders welcomed his efforts, always cooperated and made sure he was a strategic part of all of their industry associations and efforts.