Dragons’ Den’s ‘best invention’ sells worldwide with annual turnover worth £2.2million | Personal Finance | Finance
Appearing in 2013, Louise Ferguson and Kate Cotton delivered another unique music-led pitch for their beauty product Skinny Tan. Skinny Tan’s unique selling point was that it was the first self-tanning product made of natural ingredients that could naturally reduce the appearance of cellulite.
Research from Betway took a look back through the years and revealed some of “the best creations to come from the show”.
While not all of the pitches and products receive investments, some have gone on to become hugely successful businesses in their own right.
Skinny Tan has been ranked one of the “best creations” to come from the show after making “several millions” each year.
Louise and Kate entered the Den seeking a £60,000 investment for a 10 percent of their business.
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The Essex-based entrepreneurs quickly won over the dragons with all five would-be investors contributing offers.
To start their pitch three bikini-clad women danced to a high-energy promotional jingle for their product.
They explained they came up with the idea Skinny Tan while they were each on maternity leave.
Essentially their product was designed to not only make people skin look tanned and smooth, but slimmer too.
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They appeared in the Den to get finance to “conquer the UK”. The pair vowed to spend the next two years achieving their aims. They expected revenues of £1million for 2014.
Their turnover was also expected to double to £2.2million over the next 12 months if they received the investment.
Using their connections, Piers and Kelly helped the company secure a deal with Boots and expanded to Spain, Canada, South Africa and Dubai.
The brand grew very quickly, reportedly showing revenue of £1million in 2014, according to startup.co.uk.
It quickly became one of the “fastest-selling tanning products” in the UK.
While the brand was sold for an undisclosed sum in June 2015 to InnovaDerma, both co-founders remain shareholders and Skinny Tan has gone on to make millions all over the world.
Louise told The Sun in 2017: “Our turnover is several million pounds a year, but I don’t live a millionaire’s lifestyle.
“Kate and I invested around £44,000 from our own savings and credit cards into starting up the business, getting a website designed and paying for marketing.
“In 2012, we struck a deal worth £150,000 with the Australian equivalent of Boots.
“In no time at all Skinny Tan began flying off the shelves, and a year later we launched online in the UK after appearing on Dragons’ Den.”
Dragons’ Den is available on BBC iPlayer.
