Which company did Rachel Elnaugh found before appearing on the British show Dragons' Den?

Rachel Elnaugh founded Red Letter Days before appearing on the British show Dragons' Den.

Red Letter Days sold experience gifts, allowing customers to buy activities and memorable events rather than conventional physical presents. Elnaugh established the company in 1989, and it became a prominent example of the experience-gift sector in Britain.

Her business background helped explain her place on the original Dragons' Den panel. Elnaugh appeared as an investor in the first two series, bringing experience from building a consumer brand and operating in a fast-growing retail niche.

Red Letter Days later encountered financial difficulties and went into administration in 2005. The brand and assets were subsequently acquired by Peter Jones, another Dragon. This later development can cause a mix-up: Elnaugh founded the company, while Jones became associated with its rescue and ownership after the collapse.