Dragons’ Den cast say idea ‘wouldn’t succeed’ but product now sells internationally | Personal Finance | Finance
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Founders Nikki Frith and Lindsey Oldroyd pitched Granny Marmalade in 2014 asking the Dragons for £50,000 in return for a 20 percent stake in the company. When they first started, Nikki and Lindsey made her grandmother’s recipe from her kitchen, packaged it and took it to sell at the farmers’ market.
They wanted to extend their range to include not just marmalades, but curds and jams, as well as aprons, to increase their profits. Extra product lines would also boost their presence on the shelves.
Despite the entrepreneurs’ confidence in their brand, not all the Dragons were convinced.
Piers Linney explained he didn’t get the brand, with his confusion stemminf from a modern logo while they were pitching something traditional.
He said: “You tried to differentiate but I’m not sure that worked. It’s not something I can actually invest into.”
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Deborah Meaden also thought there was a “disconnect” with the logo and the brand.
She said it was nice, but she couldn’t invest.
However, Nikki explained they have always had a positive reaction with the branding, and they wanted to do something different than traditional gingham styles.
Kelly Hoppen added: “If you want to do something with this, you’re going to have to change the branding.
Peter Jones was Nikki and Lindsey’s last hope but the thought the marmalade would only work regionally.
He said: “I think the product tastes absolutely wonderful and will be upset if it’s not on the shelves.
“This is a product that was created that will do regionally well but if you want to have a national brand and product, this isn’t it.
“This won’t succeed. It looks like Asda’s own brand; I think you’ve got the wrong brand and name.”
Lindsey told Peter they have sold 7,500 jars, however he said they should be selling a lot more or it won’t be on the shelves for long.
For this reason, Peter said he is out.
Since appearing on the popular BBC programme, Nikki and Lindsey wasted no time in heeding the Dragons’ advice.
They rebranded Granny Marmalade into Granny Cool and their curds and marmalades have been in more demand than ever.
As well as supplying dozens of retailers in the UK including Booths, Granny Cool is also now sold in luxury store Dean and Deluca in Kuwait as well as stores in New York and Helsinki.
Granny Cool is also stocked at the Selfridges flagship store in Oxford Street. There are also plans for the preserves to be sold in Dubai.
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