Peter Nygard has vivid memories of when he first came to Shanghai in the early 1980s to set up a women’s clothing factory. Back then, he had one of the only cars in the city. Now, after more than 30 years of manufacturing in Tianjin and Shanghai, he plans to bring his retail business Nygard International, wildly successful in North America, to the Chinese mainland. “China is not just a part of my success, it is the part of my success,”he said.
A household name in North America, with headquarters in Winnipeg, Canada, and a flagship store in New York’s Time Square, it sells its clothes each year under 10 different brands, yet is relatively unknown in China. By next year, however, this is likely to change. Nygard wants to launch on the mainland within the next two years, part of a plan to open 20 stores across Asia and the Middle East. First though, he needs a Chinese retail partner with whom he can do business.
“Whoever’s out there and wants to make a fortune, just talk to me,” he says.
The child of Finnish immigrants who moved to Canada and set up home in a converted coal shed, Nygard has built a retail empire from an $8,000 investment. While fashion designers compete ferociously for the attention of the young, the slim, the fashionable, Nygard caters to what he calls a “forgotten group” - women over 25, average dress size US 14, who want comfort as well as style.
“My job is to make women look slimmer,”he says. The brand is adored by its loyal customers for its value and fit.
Nygard attributes his success to a combination of creativity and hard work. He typically clocks 14 hour days, seven days a week. “I’m busier now than I’ve ever been in my life,” he says.
After decades in the apparel business, Nygard has a new focus: biotechnology. Three years ago, prompted by a desire to regain the fitness levels of his athletic youth, he began researching stem cells and realized the potential for developing anti-aging treatments. With the help of Chinese academics in the field, he has already opened a clinic in Macau.
“What can be more important than your health? It’s the ultimate product,” he says.
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