Retail entrepreneur and former Dragons’ Den star Theo Paphitis has stepped in as interim chief executive of Robert Dyas as the home and hardware retailer navigates what he described as “testing times”.
Mr Paphitis, who acquired the business for £10m in 2012, has taken on the leadership role in a bid to refocus the company’s strategy and return the retailer to profitability.
The high street chain, known for its mix of home improvement products, electrical appliances and household essentials, has faced growing pressures in recent years as shifting consumer habits and the ongoing challenges of the high street continue to impact retail performance.
Speaking about his increased involvement in the business, Mr Paphitis said he had stepped in last summer to help guide the company through a difficult trading period.
“Robert Dyas has had a more testing time and at the end of last summer, I increased my direct involvement in the brand, taking up the role of interim CEO to steady the ship and refocus the strategic direction within the brand, as I have with other brands in my group over the years,” he said.
Mr Paphitis heads Theo Paphitis Retail Group (TPRG), which also owns stationery retailer Ryman and lingerie brand Boux Avenue.
Part of the strategy to strengthen Robert Dyas’ position includes a continued push into online retail, as the business adapts to changing shopping habits and the growing importance of e-commerce alongside physical stores.
Stay Ahead in the Housewares Industry
Never miss a beat in the world of housewares. Subscribe to our weekly newsletter for the latest industry news, insights, and trends—delivered straight to your inbox. Plus, get six issues a year of our expertly curated magazine, published at key points to keep you informed and inspired.
Subscribe now: https://housewareslive.net/registration/
