Rachel Elnaugh founded Red Letter Days before becoming an original Dragon on the BBC's Dragon's Den.
Elnaugh established Red Letter Days in 1989 as a company selling experience gifts, including activities such as driving experiences, flying lessons and other special-day packages. The business became one of the best-known British examples of experience-based retail.
She joined the original Dragon's Den investor panel when the BBC programme launched in 2005. Her presence is sometimes confused with Deborah Meaden's, because Meaden later became one of the show's most recognisable long-term investors, but they joined the programme at different stages.
Red Letter Days later encountered financial difficulties and entered administration in 2005. The brand was subsequently acquired by rival company Buyagift. Elnaugh's story is therefore linked both to the show's early investor lineup and to one of Britain's most prominent gift-experience businesses.