Which entrepreneur founded Red Letter Days before appearing on Dragons' Den?

Rachel Elnaugh founded Red Letter Days before appearing as an investor on Dragons' Den.

Red Letter Days sold experience gifts, such as driving days, flights and other memorable activities. Elnaugh established the company in 1989, building it into a prominent British gift-experience business. Her entrepreneurial background helped make her a natural choice for the original Dragons' Den panel.

Elnaugh appeared in the programme's first two series. She brought experience in branding, marketing and consumer gift businesses to the pitch room, although her time as a Dragon ended after the early seasons. The company itself later encountered serious financial difficulties and entered administration in 2005.

A common mix-up is to attribute Red Letter Days to another Dragon because several investors have founded or owned consumer-facing companies. The relevant connection here is specific: Elnaugh founded the business and later judged entrepreneurs on the British programme. The company's history is also frequently discussed alongside its later rescue and acquisition by Peter Jones.