Baby Towel Wraps up but Turns Down TV's Dragons
Last night’s episode of Dragons Den saw £100,000 offers from Deborah Meaden and new dragon James Caan turned down by two mums from Somerset. Polly Marsh and Helen Wooldridge chose to stand their ground and walk away empty handed after a thrilling den session with their ingenious Cuddledry® baby bath towel and those five inscrutable reptiles!
A clever product, strong branding and the combined business skills and determination of the duo, resulted in the two investment offers, plus an offer of assistance from Duncan Bannatyne and an offer of employment from Theo Paphitis. In additon, Peter Jones even stated, ‘I can’t believe you’ve made such an interesting business proposition out of a towel’. Deborah Meaden offered the full £100,000 in return for 45% of the business and James Caan offered the same investment for a 40% share. However, Polly and Helen had agreed before they entered the den that they would not give away more than an absolute maximum of 35% of their business, so the pair stuck to their guns and turned down the tempting offers.
Despite a rollercoaster session in the Den – including Theo pulling apart Polly and Helen’s financials – the pair left unscathed and took the decision to hang on to their equity. Once the spotlight was off they quickly realised to their frustration that his calculations had in fact been based on wrong assumptions, as he hadn’t accounted for their direct sales, but it was just too late to go back in and tell him!
The long-term friends had recognised that bathtime is a struggle with slippery wet babies and not enough hands, and came up with the Organic Cuddledry®, launched last October. Quickly snapped up by baby shops UK-wide, the National Childbirth Trust and Mothercare, it has fast become a bestseller.
The Organic Cuddledry® bath towel enables parents and carers to effectively wear the towel like an apron, leaving both hands free for safely lifting their babies out of the bath and drying them. It comes with single-handed easy-release poppers that allow simple removal before lying baby down on a changing mat, still snugly wrapped.
Now the Cuddledry® towel is used by thousands of parents, including a number of celebrities, and promoted by midwives. It has won national awards for being both dad and mum-friendly, and most importantly, has revolutionised bathtime for a host of anxious parents.
‘Its smart design changes bathtime from a sopping wet juggling act to a snuggly bonding time, with its clever apron-style design and cosy double-layered organic fabric,’ explains Polly, ‘We put its success down to the fact that it is a simple, practical product, which answers a problem every parent genuinely faces.’
‘The dragons clearly saw its potential’, states Helen, ‘Every one of them said they liked the product, and receiving the offers of investment reflects their confidence in the business, despite a few rocky moments in the den! We are thrilled to have reached that stage, but also feel we made the right decision in standing our ground – tempting though it was to say yes – and retain the equity ourselves in the business we have worked so hard to build’.
Since being filmed the business has grown dramatically, with sales continuing to increase, international expansion well underway and new products due for launch early next year. Investment has been secured from two private individuals, and growth has been accelerated as a result. The duo have even spotted a clever sideways step into a new market – and will soon be launching Cuddledry for dogs! You heard it here first!
The Cuddledry® towel retails at £24.99 and comes in a two-tone soft oatmeal and cream colour, natural white, and soft pink or blue. For more details see www.cuddledry.com
ENDS
Editors Notes
The Cuddledry® towel retails at £24.99 and comes in a two-tone soft oatmeal and cream colour, natural white, and soft pink or blue. For more details see www.cuddledry.com