Rachel Elnaugh founded the gift-experience company Red Letter Days.
Red Letter Days sold vouchers for memorable activities rather than ordinary physical presents. Its offerings included experiences such as driving, flying, dining, and relaxation, helping establish the modern UK experience-gift market. Elnaugh created the company in 1989 and became its most recognisable public figure.
The business later encountered serious financial difficulties and entered administration in 2005. The collapse occurred during the period when Elnaugh was appearing as an original Dragon, making the company part of both her entrepreneurial biography and the early public history of the programme. Red Letter Days was subsequently acquired and continued under new ownership.
The company is sometimes associated with Deborah Meaden because Meaden was a prominent female Dragon and later invested in many consumer-facing businesses. That association is incorrect: Red Letter Days was founded by Elnaugh, while Meaden's Dragon's Den career began after the original launch panel.