Theo Paphitis’ Boux Avenue and Ryman boosted by profit growth
Theo Paphitis Retail Group has been boosted by profit growth at Boux Avenue and Ryman despite a “difficult” consumer environment.
In the year ending March 2025, sales at Boux Avenue grew by 6.9% as EBITDA improved by £6.4 million to deliver a profit. The lingerie retailer expects a further “significant” EBITDA gain to at least £4 million in the current financial year, following strong Christmas and Valentine’s Day trading.
Subscribe to TRBRyman returned to positive EBITDA in the year, which rose by 20.5% to £1.94 million, driven by margin growth in own-brand arts and crafts and services. The retailer is forecasting EBITDA of £3 million for the year to March 2026.
Robert Dyas had a tougher year, with like-for-like store sales falling 5% amid lower footfall and unseasonal weather, despite an 11.8% rise in ecommerce sales. The year saw owner and chairman Theo Paphitis step in as interim chief executive to steady the business and refocus its strategic direction.
Paphitis said: “I am proud of the resilience and creativity shown by all of my brands to progress in such a difficult environment.
“Retail is a crucial sector, and contributor to our economy and communities, but we are still seeing long-standing brands face difficulties or disappearing from our high streets.
“I have personally continued to provide support to all of our companies and the growth delivered I have seen is very encouraging.”
