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A struggling homeware firm first established in 1872 has seen a decline in sales and has now appointed a new and very famous CEO to help 'steady the ship' and get it back

A struggling homeware shop may have a future after a Dragon has stepped in to help.

Robert Dyas has been operating for 154 years, but reported at 5 per cent drop in sales in March 2025 and a loss of £3.4 million in EBITDA (earnings before interest, taxes, depreciation and amortization).

Former Dragons' Den star Theo Paphitis bought the hardware and homeware chain in July 2012 for an estimated £10 million through his company Gladys Emmanuel Limited, and has now stepped in as interim CEO to help the struggling company.

The investor has stepped up his involvement in the 93-store firm in a move to "steady the ship and refocus its strategic direction" according to the Theo Paphitis Retail Group trading report published earlier this month.

Robert Dyas was established in 1872, and since the Dragon's involvement, the report claims 11.8% growth in e-commerce sales and 22.4% growth from dropshipping are 'green shoots' from a growing digital strategy.

Paphitis starred on Dragons' Den from the show's very beginning 2005 until 2013 when he left to focus on his business empire. He is the owner of stationery chain Ryman, the homewares specialist Robert Dyas, lingerie retailer Boux Avenue and and art supply store London Graphic Centre as part of Theo Paphitis Retail Group

When acquiring Robery Dyas in 2012, the business man said "It is a business which fits well with my investment criteria." And in an update after stepping up as CEO, he said: "Robert Dyas has had a more testing time and at the end of last summer I increased my direct involvement in the brand.

"I took up the role of Interim CEO to steady the ship and refocus the strategic direction with the brand as I have with other brands in my Group over the years. While we've seen positive trading with our E-commerce business, which was 11.8% in the year reported, we needed a refresh and to deliver more consistently to our loyal customers through our well positioned store portfolio.

"We have enhanced our click and collect proposition and increased our joint stores with Ryman, whilst work is continuing on enhancing our ranges with our key suppliers. We will focus on using the digital strategy that has worked so successfully with the other brands to drive customers back to stores."

It's believed the demand in recent years for air-fryers and dehumidifiers helped boost Robery Dyas' sales in 2024, but noticed a reduce in footfall into the stores over the next year. However the brand has undergone a thorough product review, honing in on home and garden.

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