Rachel Elnaugh founded the novelty-gift company Red Letter Days before joining the British TV series Dragon's Den.
Red Letter Days sold experience-based gifts, such as unusual outings and activities, rather than conventional physical presents. The business became closely associated with Elnaugh's entrepreneurial career and helped establish her public profile before her television appearances.
Elnaugh was one of the original investors, or dragons, when the British programme launched. Her background differed from that of investors known mainly for manufacturing, retail or property, because Red Letter Days was built around selling memorable experiences.
The company later encountered serious financial difficulties and was acquired by other business interests. That history is sometimes omitted when Elnaugh is remembered only for television. It is also important not to confuse Red Letter Days with later experience-gift brands: Elnaugh's founding role belongs to the original company.