Retail Profile Europe Ltd

Case Studies

2007 | 2008

Dr Cap | The Skate Shack

Dr Cap - from RMU to the Dragon's Den

A single unit in The Shires Shopping Centre in Leicester turned into a £150,000 investment deal for Daren Duraide and Richard Lee, two Retail Profile alums who faced the Dragon’s Den.

It wasn’t always TV cameras and six-figure contracts for the team behind Dr Cap, a shop selling a wide range of baseball caps. Richard, a former Premiership goalkeeper for Watford, teamed with his school friend Daren to start their company on a shoestring budget.

From May to August 2005, the two contracted with Retail Profile to work from a retail merchandising unit (RMU) in The Shires, and business took off so quickly they expanded to a permanent location in Croydon, Surrey, immediately after.

When Daren and Richard appeared on BBC1’s Dragon’s Den, they sought out a £150,000 deal for a 20 percent stake in their business, to set up five more shops around the country and pay to expand their brand image.

Their pitch caught the interest of several of the Dragon's panel, but ultimately Duncan Bannatyne agreed to the deal. He required a 50-percent stake, but he turned Darren and Richard into prime examples of how a simple idea can expand monumentally with the right tools and attitude.

“Retail Profile gives you the perfect opportunity to test the market for your product or service,” Daren says. “If we wouldn't have tested the market, we wouldn't be where we are today. It gives you a risk-free platform from which to propel your business.”