Rachel Elnaugh founded Red Letter Days before becoming a dragon on the British television series Dragon's Den.
Red Letter Days was an experience-gift company offering activities and memorable events rather than conventional physical presents. Elnaugh established the business in 1989 and developed it into a prominent gift-experience brand.
She joined the original Dragon's Den panel when the British programme launched in 2005. Her background gave her direct experience of building a consumer brand, although her tenure on the show was relatively brief compared with several later investors.
A common mix-up is to attribute Red Letter Days to another female dragon. Deborah Meaden, Kelly Hoppen and Sara Davies all became prominent investors on the programme, but Red Letter Days is specifically associated with Elnaugh.