Which former Dragon's Den investor founded the retail brand Red Letter Days?

Rachel Elnaugh founded the retail brand Red Letter Days.

Red Letter Days sold experience gifts, allowing customers to purchase activities and special occasions rather than conventional physical presents. Elnaugh established the business before joining the first British Dragon's Den panel, and her experience in branding and retail formed a major part of her public business profile.

The company became one of the best-known British experience-gift businesses. It later encountered serious financial problems and entered administration in 2005. Peter Jones subsequently acquired the brand and assets, helping preserve the name in the experience-gift market. That later ownership is why Elnaugh's founding role can sometimes be confused with Jones's involvement.

Elnaugh was an original Dragon, but she was not the founder of the programme or of the other investors' companies. The specific link is Red Letter Days: Elnaugh created the business, while Jones became associated with its later rescue and ownership.