Rachel Elnaugh
| Rachel Elnaugh | |
|---|---|
| Born |
12 December 1964 Essex, England |
| Known for | Dragons' Den (series 1) and creating the experiences brand Red Letter Days |
| Children | 5 (from various relationships) |
Rachel Elnaugh (born 12 December 1964) is a British entrepreneur. She was one of the investors participating in the first two series of BBC Two's TV show Dragons' Den.
Her family lived above her father's electrical shop, and she attended Chelmsford County High School for Girls. She originally wanted to take art history, but she was rejected by five universities, and she climbed the corporate ladder from being an office junior in a local firm of accountants to becoming a qualified tax consultant with Arthur Andersen.
In 1989 Elnaugh founded Red Letter Days, one of the first UK companies to sell experiential gifts such as motor racing days, hot air ballooning and health spa days.
The company grew to a £18million turnover, and led to Elnaugh's being a 2001/2 finalist in the Veuve Clicquot Businesswoman of the Year and Ernst & Young Entrepreneur of the Year.
After an attempt to expand the business into the retail sector, Red Letter Days went into administration on 1 August 2005; the remaining assets and goods were bought by fellow Dragons' Den judges Peter Jones and Theo Paphitis.
ITV1's Tonight programme criticized the business model of Red Letter Days, which included unpaid suppliers and disappointed purchasers. The programme suggested that the company failed to escrow or earmark supplier payment equity, instead using it for working capital. However, Elnaugh blamed Red Letter Days' bankers.
In the mid 1990s, Elnaugh joined the BBC TV series Dragons' Den. She was one of the five investors ("Dragons") in the first two series of the show, making five agreed investment offers - in Grails, Le Beanock, Snowbone, Elizabeth Galton and Bedlam Puzzles.
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