Adelle lures Dragon to invest £80,000 in firm
AWELSH entrepreneur braved the Dragons’ Den last night and came away with an investment from the show’s longest serving investor.
Adelle Smith asked the dragons for £80,000 for 20% of her business, and although the initial pitch was a little bumpy as nerves took hold she managed to entice Touker Suleyman and Tej Lalvani to have a go at decorating a cake.
This was followed by a grilling from the dragons, which saw the 36-year-old mum falter when quizzed on figures, and three of the panel dropped out.
But then an impressed Peter Jones offered all the money for a 35% share, while Jenny Campbell matched the amount but for 5% less.
After ‘a talk with the wall’ Ms Smith said she was “massively chuffed” to partner with Mr Jones, the shows longest-serving dragon.
Ms Smith, who grew up in Newport, left her corporate career behind her in 2014 and launched the ‘anti-kitsch’ children’s baking events company from her home in Shoreditch, east London.
Her passion for baking had been reignited after her son Cai was born when she made his first birthday cake. Ms Smith is now pregnant with her second child.
Not long after launch Ms Smith started working with brands such as Nintendo, Toca Boca, Universal Studios and Harrods. Within three months of launching the business, she found herself at the finals of Richard Branson’s Foodpreneur competition.
Her home baking kits are stocked at retailers in the UK and Ireland in more than 160 stores including John Lewis, Lakeland and Moonpig and Adelle runs the business from a bakery in Peckham, south east London.
The business has won several design and parenting awards as well as seven Great Taste Awards.
Ms Smith has presented at shows such as the BBC Good Food Show, Bakewell Festival and her video tutorials have been used by brands including Kenwood.
Her first book ‘Baked’ launched last summer, is a family baking guide to inspire a new generation of creative bakers, such as Oreo Easter Chick Pops and Minibeast Sugar Cookies, to Rainbow Unicorn Cupcakes and Gingerbread Houses.
It also contains children’s anecdotes and party ideas to create memorable moments. ‘Baked’ was launched in the US this month.
Two seaon’s ago former submariner Simon Llewellyn, owner of sauce company Hot Diggidy Dog, was invited back on the show he initially applied for in 2011 but was told his idea was too similar to Levi Roots’ Reggae Reggae Sauce product, which won investment from dragon Peter Jones.
He appeared before the panel aiming to get a £60,000 investment in return for a 10% stake in his company.
Simon, who had already achieved considerable success with his business, receiving orders from Tesco, Asda, Selfridges, Spar and even his ex-employers at the Ministry of Defence, failed to attract a bid from the dragons.