Rachel Elnaugh founded the British gift-experience company Red Letter Days before appearing as a Dragon.
Red Letter Days sold experience gifts, allowing customers to buy activities and special occasions rather than conventional physical presents. Elnaugh established the company in 1989, and it became closely associated with her entrepreneurial career.
Her experience building a consumer brand helped explain her selection for the original Dragon's Den panel. The company later encountered financial difficulties and entered administration in 2005. It was subsequently acquired by Peter Jones, another Dragon, who helped relaunch the brand.
This history can cause confusion about ownership. Elnaugh founded Red Letter Days, but Jones later acquired the business after its financial problems; founding and later ownership are different facts.