When 25-year-old Lucie Macleod walked away from Dragons’ Den empty-handed few people could have guessed what would happen next.
The founder of Pembrokeshire-based hair oils business Hair Syrup had been seeking £190,000 in exchange for 3 per cent of her flourishing business but things did not go according to plan.
Deborah Meaden appeared to question whether Macleod knew how dividends worked with guest Dragon Trinny Woodall – CEO of global, digital-first beauty brand, Trinny London – piping up: “I think Lucie doesn’t know.”
It was at this point that fellow Dragon, Touker Suleyman, made one of the most outrageous offers in the history of the show.
Suleyman offered the full £190,000 in exchange for 3 per cent – but only if he got all his money back after three months and kept the 3 per cent!!
Meaden warned her she was ‘basically giving away those shares’ while Steven Bartlett advised her to walk to the back of the Den before making a decision.
Sensing the mood Suleyman quickly backtracked on his offer and joined the other Dragons in announcing ‘I’m out’.
The Gen Z entrepreneur had walked into the Den after 39.29 minutes of the show and walked out at 59.21 minutes – but those 20 minutes of prime time TV have changed her life.
Suleyman’s tactics were roundly condemned by viewers when the episode was screened in January but it’s fair to say Macloud has definitely had the last laugh.
She told BusinessCloud sales are up 66 per cent as well as announcing plans to open a third warehouse and double their staff numbers.
With sales set to hit a record £6.5m this year, it’s hardly surprising then than she’s just been named Young Businessperson of the Year in the Swansea Bay Business Awards.
Macleod came up with the idea for Hair Syrup while at university after growing frustrated with her frazzled, dry and damaged hair.
Lucie Macloud’s April Fools stunt
In 2020, during the height of the UK lockdown, the self-confessed ‘accidental entrepreneur’ posted a video showcasing her hair transformation to her TikTok followers.
The video went viral, amassing 600,000 views and Macleod was on her way.
Since the episode of Dragons’ Den was recorded, the company has even had its products stocked by Boots.
Hair Syrup recently became a sponsor of the Welsh rugby team Scarlets, where her brother Josh just happens to be the 1st team captain.
Despite her bruising encounter of Dragons’ Den, Macleod doesn’t want sympathy.
“Appearing on Dragons’ Den has completely transformed my business trajectory and my life,” she told BusinessCloud.
“We’ve seen a 66 per cent increase in sales and the publicity I’ve had off the back of it has been mind-blowing. It was the best experience.”
At the heart of Macleod’s success is her ability to laugh at herself and her deep understanding of social media, especially TikTok – which accounts for nearly half of Hair Syrup’s sales.
This was evidenced by her approach to April Fools and turning it into a sales opportunity.
On a superficial level she announced she was giving a masterclass on dividends at The UK Shareholder Summit 2025 at Rejects House in Dragon’s Hill. It’s not clear if Deborah Meaden and Trinny Woodall had booked tickets!
However, that was nothing compared to the sophisticated stunt they pulled in announcing that their star social media manager Lucy Palmer was leaving for rival brand Justmylook.
The ‘departure’ sparked a three-day social media frenzy, garnering more than three million views.
Customers became amateur detectives with one user pointing out: “Lucie’s nails are different in two posts, this can’t be real!”
It wasn’t – and after revealing the stunt was an April Fools collaboration, Hair Syrup revealed a new product and offered 20 per cent off.
Following the spoof, Hair Syrup held their most successful 10-hour TikTok live, resulting in 1,900 orders and another 1.5 million likes.
In 2024, Hair Syrup’s turnover was £4.5m with a net profit £1.4m. This year they’re expected to hit £6.5m and plan to grow turnover to £10m by 2028.
Whether it was by design or good fortune, Lucie Macleod could go down as the biggest mistake the Dragons ever made.