Dragons’ Den star Sara Davies has been experiencing difficult times as her company grapples with losses. Her £37million arts and crafts empire is getting hit hard by the cost of living crisis and the Brexit fallout.
Known for dishing out funds and advice to aspiring businesses on the popular BBC show, her own venture, Crafter’s Companion, is dealing with its own financial turbulence. Supplying to over 30 countries, it found itself £1million underwater last October with more losses anticipated this month.
The troubled entrepreneur, now aged 39, is investing in expert guidance and implementing a multi-million pound reordering initiative, including bringing on board a new CEO with a knack for e-commerce. Speaking candidly to the Mirror, she shared: “I’m just going to be really honest, it has been a rough couple of years. And I kind of don’t want to shy away from that because I always feel, especially with my role on Dragons’ Den, I’ve got that responsibility of being a bit of a role model. I’ve had to work harder than I ever have in my life.”
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Despite the struggles, Sara remains positive. Her brainchild, set up almost two decades ago, thrived during the Covid-19 pandemic boom and the crafting sector continues to expand.
She said: “We’ve been navigating all the other difficulties: the cost of living crisis, the raw materials cost increases, the energy crisis, war in Ukraine, plus the effects of Brexit.”
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(Image: Andy Commins / Daily Mirror)
After a major shake-up at the Darlington-based firm, investment company Growth Partner has emerged as the majority shareholder. However, Sara Davies retains her roles as owner, founder, and director.
She’s also dedicating more time to her commitments on Dragons’ Den, her fresh BBC programme ‘Making It’, and her family life with hubby Simon and their two lads, Oliver, 10, and Charlie, 7. Sara expressed her total trust in the new CEO David Stern and the investor Growth Partner, stating: “It’s a really exciting time for the company.”
The Dragons’ Den sensation, Sara Davies, chatted with The Sunday Mirror’s Invite Only podcast crew at her office in Darlington for the freshest instalment of their series
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Source: Celebrities - dailystar.co.uk
