Rachel Elnaugh founded Red Letter Days before becoming a Dragon on the BBC series Dragons' Den.
Red Letter Days was established as an experience-gift company. Instead of selling only physical presents, it offered customers activities and special experiences, including leisure and driving-related packages. The concept helped popularise experience vouchers in the United Kingdom.
Elnaugh's entrepreneurial background made her a natural fit for the original Dragons' Den panel. She joined the BBC programme in 2005 and became one of its first investors, bringing experience from the gift and retail market into the pitch room.
Red Letter Days later encountered financial difficulties and entered administration in 2005. The business was subsequently acquired by entrepreneur Peter Jones, another Dragon. This history can cause confusion: Elnaugh founded the company, while Jones later bought its assets and revived the brand.