When Ryman went bankrupt, Paphitis approached the administrators and bought the company. He turned it around by improving relations with suppliers, and enthusing the management team, cementing his reputation for turning failing companies into highly successful and profitable businesses. His ventures now include Ryman, Robert Dyas and Boux Avenue. He sold 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.