Knowing the Insight and Knowing the Business
That is what Peter Nygard did first before he changed a nearly bankrupt company into a multi billion asset. Mr. Nygard success’s story was begun some when in December 1967. He was the man who collected all his savings and borrowed a loan and finally invested the money into one small woman apparel company. This is where the story really began. Once he invested 20% shares in the company, his business instinct began to work and he managed to grow the company somehow, changed the name after his own name, and finally turned into one big international company like we see these days, the Nygard International.
There are so many secrets and recipes to magically create such company; one of them is the word: insight. When Peter Nygard started his step in the woman apparel sector, he first chose the market target: the teenager, the young woman, or the mature one? Yet, he came with the answer that the very best market and consumer for this company was the women who aged over 25 years old. Once he decided his market target, he studied and learned their habit and insight furthermore.
Entering the world of woman, he saw that many women over 25 years old, a career woman who had varied roles in only one life, to work for herself, to work for someone else, and also to take care and nurture a baby. These women were the active people and wanted to look elegant in the same time, all the time. After a long study and deep understanding about such circumstances, he was finally able to build the company and succeed, like the one we see today.
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