Dragons' Den investor Rachel Elnaugh co-founded the experience-gift company Red Letter Days.
Elnaugh launched Red Letter Days in 1989 with her brother, Simons Elnaugh. The company sold gift vouchers for experiences such as driving days, adventure activities and other special occasions, helping popularise experience-based presents in the United Kingdom.
She later became one of the original Dragons on the BBC programme when it began in 2005. Her business background made her particularly associated with consumer brands and entrepreneurial ventures, although she left the regular panel after the early series.
Red Letter Days encountered financial difficulties and entered administration in 2005. The brand and assets were subsequently acquired by another company, with Dragons' Den investor Theo Paphitis among those involved in rescuing the business. This later history is why the company's founder and its eventual ownership are sometimes conflated.