Rachel Elnaugh founded Red Letter Days before appearing as a Dragon on the British television series Dragon's Den.
Red Letter Days sold experience gifts, allowing customers to buy activities and memorable events rather than conventional physical presents. The business became associated with the growth of experience-based gifting in the United Kingdom and helped establish Elnaugh's reputation as a consumer-brand entrepreneur.
Elnaugh joined the original Dragon's Den panel when the British version began in 2005. Her business later encountered serious financial difficulties and entered administration, an important part of the company's documented history and a reason discussions of Elnaugh often include both its rapid rise and its collapse.
Red Letter Days is sometimes confused with later gift-experience retailers. Those businesses operate in a neighbouring market, but they were not the company founded by Elnaugh.