Brushed off by the Dragons, the comb worth £65MILLION: Product branded 'hare-brained' by tycoons is now sold in 70 countries and boasts celebrity fans including Victoria Beckham

  • Shaun Pulfrey offered the Dragons 15 per cent of his company for £80,000
  • The Dragons turned him down in 2007, branding his idea as 'hair brained'
  • Company now huge and has a projected turnover of £34million for this year
  • Dragons would have walked away with £8million if return on investment 

Sold in 70 countries, sworn by in homes and salons alike and with an annual turnover of more than £30million, it is the biggest company ever to pass through Dragons’ Den in its ten years on air.

But while the Dragons stake their reputations on sniffing out smart investments, they missed out on a 100 times return on their money when they sent Shaun Pulfrey away empty handed and branded his idea ‘hair brained’.

The creator of Tangle Teezer, a brush specially designed to glide through knotted and tangled hair, was turned down for £80,000 in exchange for a 15 percent stake in the business in 2007. Fast-forward eight years and the company, for which Mr Pulfrey is the sole director, is now valued at £65million, meaning an investing Dragon could now have walked away with an £8million boost to their fortunes.

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Bad bet: The creator of Tangle Teezer, a brush specially designed to glide through knotted and tangled hair, was turned down for £80,000 in exchange for a 15 percent stake in the business in 2007. It's now sold in 70 countries, sworn by in homes and salons alike and has an annual turnover of more than £30million

Bad bet: The creator of Tangle Teezer, a brush specially designed to glide through knotted and tangled hair, was turned down for £80,000 in exchange for a 15 percent stake in the business in 2007. It's now sold in 70 countries, sworn by in homes and salons alike and has an annual turnover of more than £30million

New batch: Three new Dragons, including Sarah Willingham, right, and Touker Suleyman, second right, have joined the team, as has Moonpig founder Nick Jenkins, standing left. Debroah Meaden and Peter Jones, sitting, remain

New batch: Three new Dragons, including Sarah Willingham, right, and Touker Suleyman, second right, have joined the team, as has Moonpig founder Nick Jenkins, standing left. Debroah Meaden and Peter Jones, sitting, remain

Famous fans: Victoria Beckham and Cara Delavigne are said to be users of the Tangle Teezer
Cara Delavigne is said to be a user of the Tangle Teezer

Famous fans: Victoria Beckham, left, and Cara Delavigne are said to be users of the Tangle Teezer

With the BBC2 show returning tomorrow (Sun) for its tenth series, Tangle Teezers can be revealed as the biggest business ever to ask for investment, surpassing all those who were given money by the Dragons, including Levi Roots’ Reggae Reggae sauce.

It can also now boasts a number of celebrity fans, with stars from Victoria Beckham and Cara Delevingne to Emma Watson and members of the Royal family all reportedly using them.

Rather than spotting what is the best opportunity ever to have been laid in front of them, the panel – then consisting of Peter Jones, Duncan Bannatyne, James Caan and Debroah Meaden - berated former hair colourist Mr Pulfrey and sent him on his way with nothing.

Bright idea: Shaun Pulfrey, Tangle Teezer designer

Bright idea: Shaun Pulfrey, Tangle Teezer designer

Mr Jones branded his product ‘hair brained’, Mr Caan called it a ‘waste of time’ and Mr Bannatyne said it made him want to ‘pull my hair out’.

Despite this shaky start, Mr Pulfrey said he would not change anything even if he could and believes he has done better without the Dragons than he would have done with their input.

He said: ‘Entrepreneurs do things differently. Businessmen are less likely to take risks and I think you can see that with the Dragons. Looking back on it there really isn’t a lot that I would change.

‘At the end of the day, for me, I gained a lot of expertise from it and it has helped bring together the great team I have now. Fast forward to now and we’ve just turned over £23.4million, the forecast for this year is that we’re going to hit £34million.’

After his rejection he re-mortgaged his two bedroom flat in Brixton to raise £25,000, which kept the company going for six months. While he still owns the flat – with its mortgage fully paid off – he lives in a plush house in Clapham, London.

He said: ‘I can’t even tell you the number of times I’ve come home from a trip, walked into my house in Clapham and just said “wow”. It’s my sanctuary, my bit of sanity. I’ve most proud of my garden, I’ve just had it done up recently. I’ve taken to gardening like you wouldn’t believe.’

While the Dragons did not recognise the opportunity, the general public did and when the show aired, the company’s website crashed due to demand, with 1,500 orders being placed. Mr Pulfrey said he saw this as ‘affirmation’ that the Dragons were wrong and that he should press ahead. 

Hair brained: The Dragons missed out on a 100 times return on their money when they sent Shaun Pulfrey away empty handed and branded his idea ‘hair brained’

Hair brained: The Dragons missed out on a 100 times return on their money when they sent Shaun Pulfrey away empty handed and branded his idea ‘hair brained’

The success has continued to grow. In the year to March 31 2013, the company reported a turnover of £8.5million, this jumped to £14.4million the following year. In the 12 months to March 2015 this had risen again to £23.4million and the projected total for next year is £34million.

Paul Herman, business partner of former dragon James Caan and CEO of Bluebox Corporate Finance, said: ‘The Dragons have missed out on turning their £80,000 into somewhere in the region of £8m, a 100 times return on their money and a 95% “annual” return on their original investment.’

Despite his new found wealth, Mr Pulfrey says he remains ‘humble’; his last holiday was to Whitby with his mother.

He said: ‘I’m quite a humble person, I still am. Maybe one day I will sit back and enjoy the fruits of my labour but at the moment I’m still very driven. I enjoy my garden, I’ve bought a bit of artwork but I’ve not gone crazy with anything.’

Levi Roots’ Reggae Reggae Sauce, created by Keith Graham, is perhaps the most famous of the businesses to have emerged from Dragons’ Den. Appearing in 2006, he was seeking £50,000 in return for a 20 percent equity. He eventually walked away with the money after handing over a 40 percent stake to Peter Jones and Richard Farleigh.

While between £50million and £60million worth of Reggae Reggae products are now sold every year, not all of this money makes its way back to Mr Graham’s business, with much of it staying with the shops where it is sold and the companies who make it. Mr Graham’s own businesses are actually small enough to be exempt from having to file their full accounts with Companies House because they are so small.

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