On the 24th April 2018 LuggageX was invited to participate in the British Television Series Dragons Den. The BBC conducted their thorough due diligence which involved assessing everything from our Accounts and Intellectual Property to the Company Structure.
After a stutter free pitch, our Managing Director successfully managed to answer a barrage of questions from the Dragons. The financials added up and the product stood up to a demonstration of it being smashed on to the floor and jumped on.
The verdicts:
Peter Jones: Although being impressed by LuggageX, Peter was already involved with another Luggage brand and with this conflict of interest he declared himself out.
Deborah Meaden: Deborah liked the brand however had concerns about the expansion strategy that we had outlined. In particular she was critical about our vision to supply to Retailers. In her view maintaining our USP of premium durability at an affordable price with retailers required margins would be unrealistic. For that reason she declared herself out.
Jenny Campbell: Jenny took a disliking to the product immediately and criticized the design claiming that the logos on the case were facing the wrong direction. She was corrected by the other dragons but declared herself out
Touker Suleyman: Touker liked the concept however had some reservations about the zips being used after addressing his concerns he declared his interest to invest.*
Tej Lalvani: Tej got close and personal with LuggageX by stomping and jumping onto the samples that were brought into the den. After pummelling them to his satisfaction he returned to his seat and proceeded to declare his interest to invest.*
*Due to issues regarding partnership arrangements the investment was not actualised and consequently the episode was not aired.