Monsoon managing director Peter Ridler is to become chief executive of Russian footwear retail giant CentrObuv, Retail Week has learned.
Ridler is the latest British retailer to be wooed by an overseas group, as high value is placed on skills honed in the ferociously competitive UK market.
Retail Week revealed on Monday that Ridler will leave Monsoon in July. He will join CentrObuv, which is Russia’s biggest shoe specialist and which reportedly plans an IPO.
Privately owned CentrObuv generates annual sales of approximately $700m, has 700 stores and is reportedly considering an IPO. The retailer could be valued at between $1.5 billion and $3 billion if it floats, Bloomberg last year.
Ridler joins a large number of UK retail executives whose expertise has been sought internationally. Former B&Q and Robert Dyas director Rob Cissell now works for Indian retail giant Reliance, which he joined from Walmart China, and Australian retailer Coles is run by a British team including former Halfords chief executive Ian McLeod.
Ridler was placed in the CentrObuv role by headhunter Korn Ferry Whitehead Mann.