Luxury tea brand Phom has secured investment from Dragons’ Den’s Kelly Hoppen following its pitch on the BBC show this week.
Brand owner The Box of T chose Hoppen’s offer of £50,000 for a 25% equity investment in the company. It had received offers from three of the Dragons, who were a impressed with Phom, which comprises a six-strong loose leaf tea range made with ethically sourced leaves from China, India, Sri Lanka and Canada. The Box of T, founded last September by two university students, also offers an online service that allows consumers to blend their own teas.
The duo said Hoppen had already helped engineer a deal with Selfridges that will see the department store stock the Phom retail range across its London, Manchester and Birmingham stores from this week (rsp: £5.99/caddy containing up to 30 cups of tea).
“We hoped we would impress Hoppen as we know she leads a healthy lifestyle and has the experience and contacts that will help to move our business forward,” said company co-founder Omar Farag.
The Liverpool-based business is also supplying 19 Hyundai dealerships in the North West. The motoring firm supported the business with sponsorship in 2013.