Peter Nygård


Peter J. Nygård is a Finnish-Canadian former fashion executive. He was rated the 70th richest Canadian by Canadian Business Magazine in 2009 with a net worth of $817 million.
He founded Nygard International, a company that makes women's apparel, in 1967. He resigned as chairman in 2020 after FBI raided company headquarters in its investigation of sex trafficking accusations against him by multiple women.

Early life and education

Nygård was born in Helsinki, Finland in 1941. His parents were Eeli and Hilkka Nygård, bakers who immigrated to Canada in 1952, settling at first in Deloraine, Manitoba. They moved shortly after to Winnipeg.
In 1964, he graduated from the University of North Dakota with a business degree.

Tan Jay

On December 1, 1967, Nygård started working as sales manager for a new jeans line of a woman's clothing manufacturer Jacob Fashions. A few weeks later Nygård used his life savings of $8,000 and an additional loan to purchase 20% of the company from the founder Nathan Jacob. A few years later, Nygård bought the rest of the company from Jacob's daughters and renamed it Tan Jay.

Nygård International

Nygård apparel manufacturing company was founded in 1967 in Winnipeg, Manitoba. Its Canada headquarters is now in Toronto, Ontario with its world headquarters in Times Square, New York.
Nygård's fashion concept retail store opened in Times Square in Manhattan on Friday, November 6, 2009.
On February 25, 2020, Nygård stepped down as chairman of Nygård International, after their headquarters were raided in connection to sex trafficking claims.
The company filed for Chapter 15 Bankruptcy in New York on March 18, 2020 and a Manitoba judge has ordered a group of Nygard companies into receivership on March 19, 2020.
On April 30, 2020, A Canadian judge has given the green light to an accounting firm to sell and liquidate part of the business empire.

Nygård Cay

In 1987, Nygård built a compound at Lyford Cay in the Bahamas. It was partly destroyed by a fire on November 10, 2009. The Cay is inspired by the Mayan civilization’s architecture. One of the major buildings is a grand-hall with a glass ceiling.
On April 14, 2010, Nygård announced he was planning a $50 million renovation of Nygård Cay, which would take two years to complete and repair the damage and employ 200 construction workers. But a letter from the Bahamian prime minister's office rejected his construction application, citing the improper expansion of his property through intentional accretion of land over the seabed.
On September 28, 2018, Nygård Cay was seized by the Supreme Court of the Bahamas as part of a legal battle surrounding Nygård’s efforts to dredge the sea floor around the estate.

Charity

Nygård has supported the Canadian Breast Cancer Foundation.
Nygård has been a longtime sponsor of amateur sports in the Bahamas. In June 2010, is the main sponsor of Amateur Boxing Federation of the Bahamas' team for Continental Elite Boxing Championships Invitation only event slated for June 13–19 in Quito, Ecuador. Wellington Miller, the president of the Bahamas Olympic Committee, said Nygård has contributed significantly to the Amateur Boxing Association of the Bahamas and their Olympic success.
In April 2011, Nygård held the "2011 National Family Island Regatta" at Nygård Cay, which included a press conference to honor Bahamian musician "King" Eric Gibson. In the same month, Nygård also donated $10,000 to Josie Poitier, a member of Old Holy Redeemer Catholic Church, during a Passover/Good Friday Breakfast/Brunch.

Lawsuits

Nygård has been accused of abusive labor practices, tax evasion, sexual harassment, sex trafficking, and rape.
He was briefly married to Carol Knight in the 1970s.
He has eight or ten children with four or eight women.