As the hit BBC show Dragons’ Den has returned for its 20th series, many viewers may be wondering have any of the ingenious and inventive ideas from the reality television program have ever been a success story. Brother duo Charlie and Harry entered into the Den in 2016 looking for a £60,000 investment for a seven percent equity stake in their business, Oppo Ice-cream.
They were told their low-calorie and “guilt-free” ice creams, which have fewer calories than a large apple, were too risky an investment.
Nick Jenkins highlighted the difficulties of breaking into the food sector and admitted that the investment was “too risky” for him.
He said: “The reward doesn’t justify the risk.”
Despite walking away empty-handed, the pair have since created a million pound brand that sells across the world.
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The Oppo Brothers ice cream brand went on to triple in value and is now sold in 9,000 stores across most of Western Europe and some parts of the Middle East.
Harry and Charlie founded Oppo in 2014 after two years of experimenting with healthier ice cream combinations in the kitchen.
After thousands of attempts, Charlie eventually found a recipe which tasted just as good as the real thing.
He quickly swapped his corporate job for becoming an ice cream maker turned businessman full-time, and Oppo was officially born.
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During the pitch, Harry remembered that Touker Suleyman said they “looked like a pair of estate agents” because they came dressed in smart suits, when in retrospect he admits they “should have put on our Oppo branded jumpers or something a bit more ice creamy”.
Harry told The Mirror: “They [the Dragons] said they really liked the product and said it tasted great but it was just too much of a risk.
“They just get hung up on the numbers, saying you can’t grow that much that fast.
“In the end they just said it’s too much of a risk as Deborah Meadon had actually invested in an ice cream company before and they aren’t around anymore. She said, ‘I’m out’ because of that. For the others, it was just too high a risk.”
In the episode, the feedback about the product was largely positive, although Dragon Sarah Willingham highlighted concerns about the aftertaste, which was a “deal breaker”.
After the show aired, Oppo ice cream went on to triple their value to an estimated £85.7million – and have no regrets about going on the show.
Harry said: “What it did do was triple our sales overnight. It was February, not even ice cream season.
“It really gave us a great boost of awareness and people were buying us in Waitrose. I think we were the sixth most searched-for term on Google UK for a short period of time after it aired which was very positive.
“I don’t regret going on there at all. I think it’s the most nervous I’ve ever been but it was worth it. It was a good experience, but it’s definitely a show that is packaged for entertainment above actual business.
“We got massive amounts of exposure. Don’t get me wrong, it would have been great to get an offer. But we’re still here, many years later and have grown a lot.”
Dragons’ Den is available on BBC iPlayer.
