Theo Paphitis: Difference between revisions
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===Business career=== |
===Business career=== |
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Paphitis took a job as a tea boy and filing clerk at a [[City of London]] [[insurance broker]]. |
Paphitis took a job as a tea boy and filing clerk at a [[City of London]] [[insurance broker]]. Wanting more money, he discovered his passion for retailing and sales, working as a sales assistant for [[Watches of Switzerland]] in [[Bond Street]].<ref name="TIL">{{citeweb|url=http://www.thisislondon.co.uk/standard/article-23417900-details/Enter+the+Dragon+of+balls,+rubber+and+lingerie/article.do|title=Enter the Dragon of balls, rubber and lingerie|publisher=This is London|date=2007-10-24|accessdate=2008-07-21}}</ref> |
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Aged 21, he joined [[Legal & General]] selling commercial mortgages, which taught him to read other businesses [[balance sheet]]s: |
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Before his takeover of Ryman, Paphitis was Chairman of NAG Telecom, a small, early 90s, mobile phone retailer. His co-director was [[Tony Kleanthous]], (now chairman of [[Barnet FC]]). Paphitis gained massive market share for NAG by placing them in concessionary positions in Ryman stores. In the mobile phone boom of the mid 90s Paphitis was best placed to take Ryman out of receivership. |
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{{cquote: (Finance) meant getting stuck into other people's business - and I'm a nosy bugger. You had to go through the business, you had to go through all the bits and pieces. My curiosity was enough to get me to ask the right questions.}} |
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Aged 23, he set up a property finance company with a friend, and kept going when the friend left in partnership with [[Hanover Druce]], making his first money on the rise of the [[1980s]] commercial property markets.<ref name="TIL"/> Spotting the rise in [[mobile telephone]]s, he bought into NAG Telecom, becoming chairman alongside fellow director [[Tony Kleanthous]] (now chairman of [[Barnet FC]]). Paphitis gained massive market share for NAG by negotiating concessionary positions in [[Ryman]] stationery stores. |
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| ⚫ | When Ryman went into [[bankrupt|receivership]], Paphitis approached the accountants and bought the company. He turned it around by paying suppliers, and enthusing the management team and store managers,<ref name="TIL"/> cementing his reputation for turning failing companies into highly successful and profitable businesses. His ventures now include Ryman, [[Contessa]], and Partners. He co-owns [[Red Letter Days]] with fellow [[Dragons' Den (UK)|Dragons' Den]] businessman [[Peter Jones (entrepreneur)|Peter Jones]]. In [[2006]], he sold his equity stake in the UK and EU segment of the global lingerie brand, [[La Senza]]. |
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===Football=== |
===Football=== |
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Revision as of 21:32, 21 July 2008
Theo Paphitis | |
|---|---|
| Born | 24 September 1959 |
| Occupation | Chairman of Ryman |
Theo Paphitis (born 24 September 1959) is a Greek Cypriot entrepreneur based in England.
In the Sunday Times Rich List 2007, he was ranked 557th (down from 444th) with an estimated wealth of £125 million. In the Sunday Times Rich List 2008, he had dropped further in ranking to 581st although his estimated worth had increased to £135 million.
Biography
Born in Limassol, Cyprus, Paphitis came to England with his parents when he was six years old. He went on to attend the local comprehensive school in North London where they failed to detect his dyslexia, but began his entrepreneurial activities by running his school tuckshop, at the age of 15.
Business career
Paphitis took a job as a tea boy and filing clerk at a City of London insurance broker. Wanting more money, he discovered his passion for retailing and sales, working as a sales assistant for Watches of Switzerland in Bond Street.[1]
Aged 21, he joined Legal & General selling commercial mortgages, which taught him to read other businesses balance sheets: Template:Cquote: (Finance) meant getting stuck into other people's business - and I'm a nosy bugger. You had to go through the business, you had to go through all the bits and pieces. My curiosity was enough to get me to ask the right questions.
Aged 23, he set up a property finance company with a friend, and kept going when the friend left in partnership with Hanover Druce, making his first money on the rise of the 1980s commercial property markets.[1] Spotting the rise in mobile telephones, he bought into NAG Telecom, becoming chairman alongside fellow director Tony Kleanthous (now chairman of Barnet FC). Paphitis gained massive market share for NAG by negotiating concessionary positions in Ryman stationery stores.
When Ryman went into receivership, Paphitis approached the accountants and bought the company. He turned it around by paying suppliers, and enthusing the management team and store managers,[1] cementing his reputation for turning failing companies into highly successful and profitable businesses. His ventures now include Ryman, Contessa, and Partners. He co-owns Red Letter Days with fellow Dragons' Den businessman Peter Jones. In 2006, he sold his equity stake in the UK and EU segment of the global lingerie brand, La Senza.
After appearing on the BBC Back to the Floor while chairman at Millwall FC, and selling his stake a year later, Paphitis was approached to became one of the "dragons" in the second series of the BBC Two entrepreneurship series Dragons' Den in 2005.
Football
As chairman, Paphitis took Millwall out of administration, saw their first ever official appearance at Wembley Stadium, and saw the Lions win promotion to Division One as champions. He is perhaps best known for his work to reduce football hooliganism, and appointing Dennis Wise as Millwall manager, who guided the club to their first official appearance in the FA Cup Final in 2004. Paphitis left Millwall on 21 July, 2006 and was succeeded as Chairman by Peter de Savary.
Paphitis holds a large percentage of Isthmian League side Walton & Hersham
Business philosophy
Paphitis attributes his success to his natural common sense, and his favourite motto is a famous business school motto: KISS: Keep It Simple Stupid.
His view on business is:[2]
There are three reasons to be in business. To make money, to have fun – and to make money
Paphitis has also expressed anti-feminist views. He is quoted as saying:[3]
All this feminist stuff, are we seriously saying that 50% of all jobs should go to women? ... [women] get themselves bloody pregnant and ... they always argue that they'll be working until the day before, have the baby, go down to the river, wash it off, give it to the nanny and be back at work the following day, but sure enough, their brains turn to mush, and then after the birth the maternal instincts kick in, they take three months off, get it out of their system and are back to normal
Personal life
Married to Debbie, Paphitis and his wife live in Weybridge, Surrey. They have five children and two grandchildren.
Known to be something of a "petrol-head", his first car like fellow "dragon" Peter Jones was an Alfa Romeo Alfasud, and presently owns a gun metal grey 2008 model Maybach 62. His car collection have a series of personalised number plates, including T1HEO.[4]
References
- ^ a b c "Enter the Dragon of balls, rubber and lingerie". This is London. 2007-10-24. Retrieved 2008-07-21.
- ^ Dragons' Den
- ^ Now, the backlash
- ^ http://www.regtransfers.co.uk/main/STORIES/t1heo.asp