HAIR RAISING
Dragons’ Den reject makes £200million from Tangle Teezer brush after investors slammed product as a ‘waste of time’
THE creator of a detangling hairbrush that was ridiculed on Dragons' Den is set to make £200m after sealing a new deal for his Tangle Teezer business.
Entrepreneur Shaun Pulfrey was humiliated by the dragons when he pitched his Tangle Teezer hairbrush back in 2007, but now could cash in on a multi-million pound deal.
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Pulfrey, who was born in Grimsby, has struck a deal to sell a stake in the company to Mayfair Equity Partners, according to
The London-based company recently floated Séraphine - the maternity brand worn by the Duchess of Cambridge, in a £150 million listing.
He told The Times: “I’m incredibly excited for the future and the new opportunities it will present for our iconic and much-loved brand, including continuing to bring even more new product innovation, which is the heartbeat of the brand.”
Terms of the deal have not been disclosed but Tangle Teezer had been linked to a deal in 2016 that valued the entire business at £200 million.
The company has grown in the past five years, with sources saying that the deal was “significantly more” than the previous estimates.
Companies House says that Pulfrey still owns a stake of more than 75 per cent, putting him in line for a big payday.
"I’m incredibly excited for the future and the new opportunities it will present for our iconic and much-loved brand, including continuing to bring even more new product innovation, which is the heartbeat of the brand.”
Shaun Pulfrey
Back when he appeared on the show, Shaun asked for £80,000 in exchange for a 15 per cent share in his new business.
But, even after demonstrating how effective the Tangle Teezer is at removing knots, the dragons were less than impressed.
But the cocky dragons will certainly be regretting their brush with greatness now, as the business is set to become one of the show's most successful rejects ever.
Shaun's business was funded by the savings he'd raised whilst working as a hair salon colourist, and he even remortgaged his London flat to help his dream get off the ground.
And since his rejection in 2007 the company has grown ten-fold, with more than 80 per cent of its sales generated overseas, selling almost a million brushes in Latin American markets.
Things started to look hairy for the fledgling business after Mrs Meaden claimed it resembled a horse brush, whilst Mr Jones claimed it was a "hair-brained" pitch.
Meet the Dragons’ Den reject behind Tangle Teezer hairbrush Shaun Pulfrey
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