Dragons' Den: Woman emotional discussing brother’s death
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Peachylean is an athleisure wear company aiming to help women overcome their subconscious saboteur and help them feel confident and beautiful. After her pregnancy, Ms Keegan explained she was left with a “mum tum and curves”, and what should have been a happy time was overshadowed by post-natal depression.
She was able to use the gym to escape and feel better in her situation but was shocked when she could not find gym wear that mirrored shape wear, and was comfortable, so she created her own.
The brand is aimed at women and mums between 27 and 46 who may want to wear something firm to “keep the jelly in place”.
At the time, Ms Keegan had sold £290,000 worth of product. In the first eight months of 2021, Peechylean has surpassed their last years’ turnover.
Based in Ireland, Ms Keegan aims to partner with a Dragon to be able to bring her products to the UK market.
Sara Davies was thrilled as the “product sounds fabulous”, she explained that she is exactly the consumer Ms Keegan is aiming at.
Touker Suleyman said Ms Keegan came across “very credible”, however he could not see how the product itself, in photographs, would get the message across.
Ms Keegan responded saying the company is so much more than spandex and nylon. She teared up explaining an email she had received from a mum saying she was able to leave the house and feel comfortable enough to walk her child to school because of her leggings. This woman had not left her house in four years.
Peter Jones praised Ms Keegan for the quality of her products but could not remember the brand name, or the logo which was a big problem.
He said: “When I see the logo, I don’t see a Peachylean identity.”
He could not invest.
Deborah Meaden thought Peter was “bang on about the branding”.
She explained that a lot of other brands have a signature look that people can spot from a mile off.
As the company did not align with her specific sustainably needs, she could not invest.
Ms Keegan was able to fund the money with a redundancy cheque she was handed in 2015. She also has another investor who invested £20,000 for two percent equity share in the business.
She explained that during the pandemic, her business “was thriving” but she did not have enough stock because March was a difficult time for her.
Ms Keegan told the Den about her 35-year-old brother who had died two days before lockdown.
Tej Lalvani reassured Ms Keegan that what she had done was “remarkable” as despite her situation and the tragedy, she was able to go from strength to strength.
Peter added: “I imagine he’d be incredibly proud.”
Touker wanted to give Ms Keegan a “lifeline”, but he struggled to understand how she got to the million-pound valuation of the business.
She responded that she had three new products ready to launch that would expand their sale and revenue. These products were funded by Enterprise Ireland, and they promised to match the investment made by the Dragons’ if she was successful.
This would double the amount of cash in the business. With the investment, Ms Keegan aims to turnover £4million in three years.
Sara wanted to help Ms Keegan make £10million in three years but as she knew very little about the fashion industry, she offered Ms Keegan £50,000 for ten percent equity as she had some expertise missing.
Tej said: “Despite all the challenges you have faced, I think you’ve created a product that can turn into a good brand. So, I will be happy to share with Sara on this”.
Touker explained that “the magic” for Ms Keegan would involve all three Dragons’ as they call can help her in different ways. Touker said that he could place a call to have Peachylean selling on the John Lewis website by the next day.
He said: “You could be taking 30 to 40 grand a week, but you have to give away a bit more.
“I would give you a third of the money, but you have to give away a bit more, I’d also want 10 percent.”
Overwhelmed by the support, Ms Keegan did not even have to think about the offer, she was happy to accept.
Peter said: “Never have I been so pleased that someone has walked out of the Den with an investment.”
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