Dragons’ Den rejection wins deal with major retailer after snubbing on show
An entrepreneur who was rejected for investing for his plastic-free chewing gum after appearing on Dragons’ Den has seen his business take off.
Keir Carnie appeared before the business tycoons on the BBC Two show last night and asked for £ 50,000 in his herbal peppermint Nuud gum.
But although he impressed the dragons with his impressive ‘like an actor’ speech, he failed to win any investment for the product he invested £ 20,000 in.
In his speech, he said: “Did you know that every piece of regular chewing gum contains the same amount of plastic as a plastic straw? Yet while plastic straws are prohibited, chewing gum waste go virtually unnoticed. ”
Dragon Deborah Meaden was impressed with Keir’s drive to make chewing gum containing plastic “as socially unacceptable as plastic straws.”
And the regular gum chewer appreciated the Nuud sample offered to him, describing it as “just like normal gum”.
And Keir continued to show he had done his homework when asked about the evaluation drawing on his experience as a director of business development at Heineken.
He said: “I would relate this to the craft beer boom and Heineken has been slow to respond to this boom. tendencies.
“They came in and paid heavily on the odds for these brands of craft beer.”
Dragons Tej and Touker Suleman were impressed with Keir’s natural delivery, but weren’t convinced of the numbers behind the product which they say is a “low value product” meaning it should “sell.” lots of gum to start “.
Tej added, “I think you’re fantastic. In fact, I haven’t heard a better response from someone trying to justify a high rating.”
Touker added, “You sound very believable. You’re like an actor who has the script and you’re ‘punch, punch, punch.’ I can’t fault you.”
When Keir said his expected profit margin was 37 or 38%, Touker described it as “pretty low” and told Keir that he came to the Den with the “bad deal”.
Deborah said she “liked” what Keir was doing, but was dissuaded from investing for fear that the big players in the market would adapt to be plastic-free and ruin Nuud’s prospects.
Before Keir left without an offer, Tej told him, “You ticked a lot of boxes here. You are in the right place at the right time and I think you are the right person to run this business.”
He advised Keir to start selling in more retailers and reduce Nuud’s margins, urging him not to be discouraged, but adding that the company was “probably not investable at the moment”.
And since filming the show, Keir has continued to secure the 260 Waitrose supermarket stores across the UK to add them to its existing distribution platforms, including Nisa and Costcutter.
Keir remains optimistic about the future despite the Dragons’ lack of investment adding, “I’m really proud of Nuud’s success so far, but it’s still just the start and we have huge ambitions to bring a positive change to environmental problems that are currently not under control.
“We will continue to shed light on this issue and campaign for ingredient transparency to enable consumers to make an informed choice about what to chew on.”