Which company did Rachel Elnaugh found before appearing on BBC's Dragons' Den?

Rachel Elnaugh founded Red Letter Days before appearing on BBC's Dragons' Den.

Red Letter Days sold experience-based gifts, allowing customers to buy activities and outings rather than conventional physical presents. Its business model helped popularise experience vouchers in the United Kingdom.

Elnaugh's experience building the company formed an important part of her profile when she joined the original Dragons' Den panel. She brought first-hand knowledge of branding, consumer products and the pressures of running a growing business.

Red Letter Days is sometimes confused with other British gift and voucher companies because the wider experience-gift market later expanded rapidly. The company name, however, is specifically associated with Elnaugh and her career before the programme.