March 22nd 2024.
There was quite a buzz around the latest episode of Dragons' Den as a woman named Peony Li turned down a whopping £100,000 investment for her business. She shared the story of her booming company, We Are Jude, and how she stood her ground in front of the business moguls.
Peony, a 29-year-old entrepreneur, caught the Dragons' attention with her unique healthcare company that focuses on topics that are often considered taboo. We Are Jude offers bladder care education, products, and a supplement to help the 2.3 billion people worldwide who suffer from bladder issues. Peony's main goal is to break the silence around these issues and provide support to those in need.
During her pitch, Peony confidently stated that her company had already attracted 13,000 customers and generated £1.4 million in revenue in just 17 months. She also revealed her projections for the next year, with an expected £4 million in revenue and potential partnerships with big retailers like Boots, QVC, and Chemist Direct.
The Dragons were impressed and Emma Grede, a guest Dragon and self-made millionaire, made an offer of £100,000 for 3% of the business. However, Peony stood her ground and turned down all the offers, including those from Peter Jones and Deborah Meaden. The Dragons were puzzled by her decision, but Peony knew what she wanted for her company.
Despite not accepting any investment on the show, Peony's business has grown tremendously in the past eight months. Revenue has quadrupled, and her products are now selling out in Boots and QVC. She reflects on the experience as nerve-wracking but ultimately rewarding. "It meant so much that the Dragons recognized the importance of what I'm building and could see the potential impact of Jude," she shared.
Peony, who holds a Masters in Economics from the University of Cambridge, was determined to stay true to her vision and not settle for less. She believes that this is a common challenge for women in business, and she did not want to diminish the input of her early investors who believed in her idea when it was just a concept.
While the Dragons' advice was valuable, Peony knew she had to stick to her strategy and not waver. She is now proud of her decision and is grateful for the support and recognition from the show. Dragons' Den airs on BBC One every Thursday at 8pm, and the team behind the show is always on the lookout for new and exciting business ideas. If you have a story to share, don't hesitate to reach out to them.
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