|Name||Letitia Valentine & Alexander Lewis|
|Brief Description||Jacket that has foil lining to prevent hypothermia|
The Dragons are quick to anger when they think they are being fed incorrect information, and Letita and Alex soon ramble their way into the firing line.
It's not every day the Dragons are treated to the sight of two people dressing a dummy in tin foil - but this is Alex and Letitia's new ultra-light survival jacket, lighter and four times more efficient than a standard foil blanket at warming up hypothermic walkers, and the Dragons all seem to agree it's an excellent invention.
Their business plans seem equally promising at first. One camping retailer has accepted the jacket and they are in negotiation with the Ministry of Defence. Their target market is walkers, of whom there are 38 million in the UK.
James asks Letitia and Alex about their recent order for 10,000 jackets. Letitia looks to Alex for the details: he is obviously the numbers man but is hesitant when questioned directly.
Duncan Bannatyne has noticed that by the figures Alex provided, the company will be worth less in three years' time than it is now.
Those figures also rely on Letitia and Alex bringing out new products in the future. Why should Duncan invest? Alex's nerves have started showing him up and he has trouble answering.
"I'd say the company is barely worth £75,000 for 100% of the company at this point," Duncan remarks, and bows out immediately.
Peter Jones, meanwhile, is more than suprised at their other statistics. Alex and Letitia gave the size of their target market at 38 million. That's over 65% of the UK population.
Theo Paphitis is also disappointed at their suspect statistics and he finds it absurd that they haven't even managed to speak to anyone in the buying departments of the stores they've approached.
As the interrogation continues Deborah Meaden steps in. She thinks they've made mistakes but she doesn't understand the barrage they're getting from her fellow Dragons.
Theo and James have heard enough and go out. Peter, is disappointed. The product is good but Alex and Letitia haven't sold it well - whether to retailers or in the Den. He too is out.
It remains only for Deborah to make it unanimous.
Deborah, however, seems to be fighting with herself. Certainly their business has problems but there is the germ of a good idea here.
Deborah wants to know what the entrepreneurs think their business needs. Letitia has quickly realised in the Den that they need someone with real business experience and she says so.
Alex mentions that they're in talks with a leading retailer and that if they can introudce more products and have a line they can get into stores.
Deborah admits that at this point, she could toss a coin.
To a disbelieving look from Peter, Deborah makes the duo an offer. She offers £75,000 but wants 45% of the company for this risk. Alex and Letitia counter with an offer of 40% but Deborah isn't willing to budge in what she says is such a marginal case.
Clearly the two are not going to risk arguing any further and they readily accept her offer.
£75,000 from Deborah Meaden for 45% of the company.
Last updated: 23th August 2010
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