Enterprising duo bag Dragons’ Den cash for tea venture
TWO enterprising Liverpool students who created a new tea brand as part of a university project, have taken a major leap forward after bagging investment on Dragons’ Den and securing a listing in luxury retailer Selfridges.
Omar Farag and Philip Perera, who have just graduated from Liverpool John Moores University, appeared on the popular show on Sunday, where they secured investment offers from three of the top business ‘Dragons’, Peter Jones, Deborah Meaden and Kelly Hoppen, before accepting Miss Hoppen’s offer of £50,000 for a 25% stake in their business, the Box of T.
Box of T supplies ethically sourced leaves from countries including China, India, Sri Lanka and Canada, and has created the PHOM tea range, which offers six flavours of loose leaf tea, and also allows customers to design their own bespoke blends.
The business is in the final stages of a deal, that Kelly Hoppen has helped arrange, for Selfridges to stock PHOM branded teas in its London, Manchester and Birmingham stores from this month.
Lindsey Butler, Selfridges grocery buyer said: “We are really delighted to be working with two such entrepreneurial people, I am sure the product will be a phenomenal success”
Mr Farag said: “Before we went into the Den we really hoped we would impress Kelly as we know that she leads a healthy lifestyle and has the experience and contacts that will help to move our business forward.
“Straight after we struck the deal she gave us some amazing feedback and her excitement about the product and packaging design was really evident.”
Mr Perea, whose mother owned a tea shop in Berlin, where he grew up, added: “We’re passionate about sourcing the best teas from all over the world for our customers. The secret to our tea is simple – we look at the whole picture. We only use whole leaf tea, whole flowers and whole leaf herbs – simply because tea tastes better that way.”
New shareholder Kelly Hoppen said: “The Box of T is a young, vibrant business which I’m truly passionate about, offering high-quality, ethical and delicious products. It gives customer unprecedented access to unique flavours of tea in a way that’s quick and easy.
“I can see the service being a hit with households and workplaces, as well as restaurants and cafes, around the country.”
The Box of T is already serving a portfolio of trade clients in the North West, including supplying 19 Hyundai dealerships after the motor brand supported the entrepreneurs with early sponsorship and advice last year.
