Rachel Elnaugh founded Red Letter Days, the experience-gift company associated with her Dragon's Den career.
Elnaugh established Red Letter Days in 1989. The company sold vouchers for experiences rather than conventional physical presents, helping popularise experience-based gifting in the United Kingdom. Its offerings included activities and special outings that recipients could redeem later.
Elnaugh became one of the original dragons when the British series launched in 2005. The same year, Red Letter Days entered administration after financial difficulties. Peter Jones subsequently helped rescue the business, making the company one of the programme's most discussed early business stories.
The later Red Letter Days business should not be confused with Elnaugh's original ownership. The brand continued under new ownership after the administration, while Elnaugh's Dragon's Den appearances belong to the programme's first series.