Theo Paphitis

Infobox Celebrity
name = Theo Paphitis


birth_date = Birth date and age|1959|9|24|df=yes
birth_place = Limassol, Cyprus
death_date =
death_place =
occupation = Chairman of Ryman
salary =
networth = gain£135 million
spouse =
website =
footnotes =
children = 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 and brother, Marinos, 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.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]

Aged 21, he joined Legal & General selling commercial mortgages, which taught him to read other businesses balance sheets:

Aged 23, he set up a property finance company with close friend and business associate Mark Moran, 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. 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, 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, for a reported £100m. citeweb|url=http://www.fashionunited.co.uk/news/lingerie.htm|title=La Senza sold to Lion Capital|publisher=http://www.fashionunited.co.uk|date=2006-07-13|accessdate=2006-07-13]

Football

As chairman, Paphitis took Millwall out of administration, saw their first ever official appearance at Millennium 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

Television

After appearing on series four of the BBC "Back to the Floor" series while chairman at Millwall FC, and selling his stake a year later, Paphitis was approached to become one of the "dragons" in the second series of the BBC Two entrepreneurship series "Dragons' Den" in 2005.

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: [ [http://www.bbc.co.uk/dragonsden/ Dragons' Den ] ]

Personal life

Theo lives with his wife Debbie. They have five children.

Known to be something of a "petrol-head", his first car, like fellow "dragon" Peter Jones, was an Alfa Romeo Alfasud, and he presently owns a gun metal grey 2008 model Maybach 62. His car collection have a series of personalised number plates, including T1HEO. [ [http://www.regtransfers.co.uk/main/STORIES/t1heo.asp Celebrity Number Plates Stories: Enter The Dragon - Theo Paphitis ] ]

Theo's brother, Marinos, is currently the Director for the South Eastern region of the Learning & Skills Council.

Controversial comments

Paphitis has expressed anti-feminist views. He is quoted as saying: [ [http://www.guardian.co.uk/world/2008/jul/01/gender.women/print Now, the backlash] ]

References

External links

* [http://www.theopaphitis.com/ Official website]
* [http://www.bbc.co.uk/dragonsden BBC Dragons Den website]
* [http://business.timesonline.co.uk/tol/business/specials/rich_list/ Sunday Times Rich List]
* [http://www.growingbusiness.co.uk/cFtUrKponnYeow.html Growing Business]
* [http://www.guardian.co.uk/uk_news/story/0,3604,1222209,00.html Guardian Article]
* [http://www.thefounder.co.uk/article.php?articleid=167 The Founder - student newspaper interview]