Dragons’ Den continued on Thursday, but this week saw both viewers and Dragons stunned by an offer made by Touker Suleyman, with some accusing him of “conning” a young entrepreneur.
Lucie, 24, arrived at the den to pitch her haircare company, Hair Syrup, which has already seen huge success on social media platform, TikTok.
“I sort of started my business by accident when I was at university,” she told cameras ahead of the pitch.
“My products went viral on TikTok though, and that’s how I ended up where I am today.
“I’m here today asking for a £190,000 investment in return for a three percent equity stake in my business.”
As the pitch continued, the Dragons each spotted gaps in Lucie’s business knowledge, and one by one dropped out of the offer, assuring her she was already doing incredibly well.
Only Suleyman remained by the end, and he soon asked: “What do you want from a Dragon?”
Dragons’ Den star Touker Suleyman was accused of ‘conning’ a young entrepreneur
BBC
“I want someone to grow with me and help me to not make mistakes that I probably am going to make without someone,” Lucie confessed.
“I want someone to come on a journey with me.”
“What’s that worth?” the business expert probed, adding: “And I say that, ‘what’s it worth’, because how do you get your money out? And you don’t need money… But you need a Dragon.
“The complication here is, how do I get my money back? How do I make you an offer where I get my money back really quickly?
“I will make you one. And I think what you need is a mentor to not make mistakes.
“And probably you need to have a retail strategy which I think at the moment is not a good one.”
The 71-year-old continued: “But I think you need an insurance policy against TikTok as well. A way I could guide you – I’m not going to run the business for you, if I got involved.
“But I will guide you so you don’t make any mistakes. So I will give you all of the money, £190,000 for the three percent – as long as I get my money back within three months, and keep the three percent.”
Deborah Meaden immediately shook her head at the unusual offer, but Lucie responded: “Ok, I can do that.”
“What? You’re basically giving away those shares,” Meaden pointed out. “I just need you to be really clear, understand.”
“Do you want to go think at the wall?” Steven Bartlett suggested, advising: “Just go for a drink of water and come back.”
After taking a moment to think, Lucie returned, explaining she wanted to take up Suleyman’s offer.
However, as the Dragons all appeared uneasy, Lucie asked: “Why is everyone making that face? I’m a bit nervous.”
“They just want to make sure that you’re…” Peter Jones began before Meaden interjected: “You understand, you’re basically giving him three percent of your company?”
“For free?” Lucie asked, at which point Suleyman replied: “Well you are indirectly, but you’ll have a Dragon.”
Noticing the frosty atmosphere, he went on: “And if you feel uncomfortable then say ‘I don’t accept.'”
Seeming to have a change of heart, he then concluded: “I don’t want you to feel, you know, that I’ve tried to trick you in any way. That’s not my intention.
“I’ll tell you what Lucie, I can feel you’re uncomfortable, right? And I don’t want to take away three percent for nothing from your business, so I’m out.”
Despite him taking back the offer, fans on social media were fuming about Suleyman’s attempts to “con” Lucie.
“Touker is an a**hole. He’s basically conning the girl as he knows she doesn’t understand what he’s offering #DragonsDen,” one shared.
“#dragonsden oh the poor girl,” a second added, with another writing: “Money back after 3 months… Madness!!! #dragonsden.”
“I don’t always like Deborah but she has done the right thing #dragonsden,” someone else noted.
“I think they’ve been awful to this poor young lass… she’s made more money herself, than the other people who’ve already been on, and I don’t think they knew anymore about their businesses then she does. They’re crucifying her. #dragonsden,” someone else commented.
“But is Touker taking advantage #Dragonsden,” another echoed.
“That whole pitch and the following interactions were really upsetting and made me so uncomfortable. She’s done so amazingly but that was too much for her (would have been for me too) to comprehend in the moment #DragonsDen,” another posted.
Some did defend Touker though, with one noting: “Rubbish! She gets a dragon who takes her into retail with all his contracts and she gets a mentor!” (sic)
As Lucie left empty-handed, Suleyman attempted to justify his offer, explaining to his co-stars: “Look, you guys didn’t want to invest, right?
Because you couldn’t get your money out. I tried to find a solution.”
Jones labelled Suleyman’s decision to back out as “noble” in response.
