DRAGONS’ Den fans were left open-mouthed after “hardball” business owners Joe, Ben and Oliver landed a deal with Steven Bartlett after the “best negotiation in the show’s history.”
Dragons Peter Jones, Deborah Meaden, Sara Davies, Steven Bartlett and Touker Suleyman returned to their lair last night ready to meet a new group of business owners to convince them to invest their cash.
However, one business opportunity stood out above the rest; Luxe Collective, owned by trio Joe, Ben and Oliver.
Having started working together in their spare bedroom just a few years ago, brothers Joe and Ben started turning a profit by buying goods on eBay and Depop, cleaning them up and selling them for more on Instagram.
Having expanded the business with the help of their friend Oliver, this trio has built Luxe Collective into a million pound enterprise and now have a team of people who assist them as they sell pre-loved luxury items online.
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They appeared on Dragons’ Den last night wanting to take their business further, and the lads are hopeful they can secure a store in department stores like Harrods and Selfridges. But to do this, they need the help of a dragon.
They came in with a confident attitude.
“The dragons are going to love us, they can’t not. What we’ve done in the past three years is actually wild,” Ben said.
They started off by asking for £100,000 for a two per cent equity share in their company.
He offered them their desired amount of money for five per cent of the business.
Deborah then made the same offer while Touker offered the same for ten per cent because of his industry expertise.
While Touker’s experience in the luxury market would have been a coo for the lads, they decided to go in a different direction, seeking an investment from businessman and podcast host Steven.
After a few tense negotiations, Steven agreed to drop to a three per cent share in the business and they agreed a deal.
He said: “Sometimes in the Den I want to see a bit more willingness to negotiate and meet in the middle … but I’m just in love with your story, I’m in love with what you’re doing, I think you’re great guys and I’d love to work with you. So, in this case, I’m accepting the three per cent.”
After watching this impressive exchange, many BBC fans headed to X, formerly Twitter, to discuss, with one viewer calling it “the best negotiation” even seen in the Den.
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The viewer added: “The Luxe Collective guys were willing to go to 4 per cent, sold Steven Bartlett on flattery, saw that it landed so stood firm and played hardball for 3 per cent then won.”
Another agreed: “Omg I thought they bottled it, never a good idea to push a dragon, but the trio deserved it. A fantastic business to end the first episode on.”
“That was a negotiation and a half!!” commented a third viewer, while another was impressed that the trio’s “big gamble” paid off.
“Absolute masterclass by those lads!” praised another viewer.
While a sixth added: “One of the best negotiations I’ve seen on Dragons’ Den. Well played lads, always be prepared to walk away. Best of luck.”
The new series Dragons’ Den will continue next Thursday. Over the course of the season, viewers will be treated to an appearance by Gary Neville as a guest dragon. The former footballer-turned-businessman co-owns Salford City, a production company, and two hotels.
Dragons’ Den continues next Thursday at 8pm on BBC One.