Indigo’s new CEO Peter Ruis hopes to make retailer ‘bigger and bolder’

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Peter Ruis travelled to a Halifax museum last month to view the works of Yousuf Karsh, and came away just as excited with his purchase of the picture-heavy biography of the famous portrait photographer who captured the visages of well-known figures such as Winston Churchill and Marilyn Monroe.

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“I bought his book and it’s got a lot on his life, but it’s also got these wonderful anecdotes as to what happened with each photograph,” the new chief executive of Indigo Books & Music Inc., said by phone from Paris, where he was attending a conference for retail professionals. “When you’re doing (portraits) of people like Picasso and John F. Kennedy, it’s really interesting to learn the conversation around the photograph.”

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No matter where he is or what he’s currently into, Ruis always seeks out books to help him learn more about his different interests or hobbies. His love of books is part of the reason he’s excited to take the helm at Indigo, replacing founder Heather Reisman, 74, who is now the company’s executive chair.

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“I’ve always loved books. I’ve always read books. English was my favourite subject at school,” he said. “Two of the books I read as a teenager are still my favourite books of all time: The Great Gatsby and 1984.”

Ruis’ promotion from president ushers in a new era for Canada’s largest book retailer, which Reisman had steered since its founding 25 years ago. It’s an “honour” to step into Reisman’s shoes, said the 54-year-old Englishman, who brings 30 years of experience in retail, having worked in senior roles for brands such as Ted Baker, Levi’s and John Lewis.

He has something of a lofty task ahead as he tries to shore up profits at the retailer, which has struggled with the broad consumer shift to e-commerce while navigating pandemic-induced woes, such as supply-chain issues and higher input prices.

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Nevertheless, Indigo ended its latest full fiscal year on a high note, posting net earnings of $3.2 million, or 12 cents a share, its first positive report since the last quarter of 2019.

But the good news ended there. The company in August reported a net loss of $23.8 million for its first quarter ending July 22, mainly due to higher input and processing costs from rising inflation.

Prior to skipping across the pond in February 2021 to join Indigo, Ruis spent two years at Urban Outfitters Inc., helping to expand its Anthropologie brand in Europe, creating products and an online presence that catered to that market’s tastes.

“The thing about my role at Anthropologie, it was never going to be a long one for me because I suppose what I’d rather do is be at the centre of the whole organization,” he said. “I think it’s easier to be at the centre of the whole brand rather than running a satellite.”

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His eventual succession to Indigo’s top role was always planned, always kept in mind, after his hiring, Ruis said. Making the decision to move was also made easier by the pandemic, he added.

“There’s something about the period during COVID that made us all do crazy things,” he said. “For me, my crazy thing was to move continents.”

As CEO, Ruis wants to push Indigo to be “bigger and bolder,” turning it into a “cultural odyssey of a store” that has curated selections of a bit of everything. The company will launch a new website next month that’s meant to elevate the digital experience for its customers, though details are scarce.

He is also “obsessed” with keeping brick-and-mortar stores at the centre of Indigo, thinking up ways to make the in-store experience worthwhile for shoppers.

“It’s the idea that we will always have an incredible sort of modern, progressive outlook in terms of everything we’re doing and talking about rather than (customers) walking in and seeing the same old assortment, same old things,” he said.

But, before he digs his heels in, he’s going to finish up the last pages of his current read: Cleopatra and Frankenstein by Coco Mellors.

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