Which Dragon co-founded the British lingerie retailer Ultimo?

Michelle Mone co-founded the British lingerie retailer Ultimo.

Mone founded Ultimo in 1996 with her then-husband, Michael Mone. The company became known for fashion-led lingerie and for promoting designs intended to combine appearance with support and comfort. Mone later became a prominent business personality and joined the Dragon's Den investment panel for a period.

Her career is often linked with entrepreneurship outside television, particularly the development and marketing of the Ultimo brand. That background shaped her role as an investor, where she assessed products, branding and routes to market as well as financial projections.

A frequent confusion is to attribute Ultimo to another female Dragon. Kelly Hoppen was a designer and investor on the programme, while Sara Davies founded Crafter's Companion. Michelle Mone is the entrepreneur associated with Ultimo's creation.