Dragons’ Den flop branded ‘crappy’ now has MBE and huge net worth of £96million
One Dragons’ Den reject labelled “unprepared” by the investment tycoons on the BBC show has gone on to sell £96million worth of products.
Rachel Lowe entered the Den back in 2004 to pitch her board game business Destination London, aimed at rivalling iconic games like Monopoly.
The entrepreneur was asking for £75,000 in exchange for 30% of her business, but she left the Den with a sour taste.
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The aim of the game is to act as a taxi driver and raise as much money as possible shuttling visitors to central London tourist attractions, with Rachel set on releasing other games across the world to target an international market.
Rachel told the Dragons that it was set to launch in toy giant Hamley’s – but Duncan Bannatyne was quick to scupper her dreams, telling her that the launch might not do anything to propel the business into success.
Peter Jones informed her that there were “too many pitfalls” in the business, and Rachel failed to give precise answers about the numbers surrounding her venture.
She made the classic Den error of confusing gross and net profit, with former Dragon Doug Richard snapping at her: “You’ve just lost my interest completely. We can’t even have a basic business discussion.
“It doesn’t seem like you’ve prepared very well,” he told her, before branding it a “crappy investment” behind her back.
Rachel left the Den with nothing – but her business has gone on to outsell Monopoly, its greatest rival in the board game sector, in 2005.
In 2008 the company managed to beat every other game in Hamley’s Regents Street store, a major achievement, and now has an incredible 21 varieties available for keen fans.
Destination London has even partnered with huge brands including Disney – to make a Toy Story edition – the 2012 London Olympics and Downton Abbey.
Rachel’s net worth is now estimated at £96million, and she made headlines in 2009 after she was awarded an MBE from the Queen for services to business.
She has gone on to launch multiple businesses under the board game umbrella.
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