A homeware store facing challenges may see a brighter future with the intervention of a well-known entrepreneur.
Robert Dyas, a longstanding business in operation for 154 years, experienced a 5% decline in sales in March 2025, resulting in a loss of £3.4 million in EBITDA (earnings before interest, taxes, depreciation, and amortization).
Theo Paphitis, a former participant on Dragons’ Den, acquired the hardware and homeware chain in July 2012 for around £10 million through his company Gladys Emmanuel Limited. Recently, Paphitis has assumed the role of interim CEO to assist the struggling company.
In a strategic move to stabilize the business and redefine its direction, the investor has increased his engagement with the 93-store company, as stated in the Theo Paphitis Retail Group trading report released this month.
Since Paphitis’ involvement, Robert Dyas, established in 1872, has witnessed positive growth in e-commerce sales by 11.8% and a significant 22.4% increase in dropshipping, showcasing promising outcomes from an evolving digital strategy.
Known for his tenure on Dragons’ Den from 2005 to 2013, Paphitis transitioned to focus on his various business ventures, including ownership of Ryman stationery chain, Robert Dyas homeware store, Boux Avenue lingerie retailer, and London Graphic Centre art supply store under the Theo Paphitis Retail Group umbrella.
Upon acquiring Robert Dyas in 2012, Paphitis expressed that the business aligns well with his investment criteria. Following his appointment as CEO, he emphasized the need for a refreshed approach to enhance customer experience and drive business growth, utilizing successful digital strategies implemented in his other brands.
Evidently, the demand for air-fryers and dehumidifiers contributed to the sales boost for Robert Dyas in 2024. Despite a decline in store foot traffic in the subsequent year, the brand conducted a comprehensive product review, focusing on home and garden categories to meet evolving consumer needs.