Rachel Elnaugh was the founder of the technology company Red Letter Days, which sold experience gifts.
Elnaugh established Red Letter Days in 1989. The business offered customers gift experiences rather than conventional physical products, helping popularise the idea of buying activities such as driving, flying or leisure packages as presents.
She became one of the original dragons when the British version of Dragons' Den launched in 2005. Her business background gave her particular experience in marketing, customer fulfilment and selling memorable experiences through a growing consumer brand.
Red Letter Days later experienced financial difficulties and entered administration in 2005. The business was subsequently acquired by Peter Jones, another dragon. That sequence is a common source of confusion: Elnaugh founded the company, while Jones later bought its assets and helped revive the brand.