Sofia Panwar, founder of the multi-million-pound lingerie subscription service Unndr, has revealed she turned down the chance to appear on Dragons' Den earlier this year. The entrepreneur said she followed her instincts after building the company organically and reaching seven figures in just two years.
Why Sofia Panwar Said No to the Dragons
Panwar was approached about appearing on the hit BBC show but decided the time was not right. She told her TikTok followers: “There was just something in my gut that was telling me that we’ve come so far. We've hit seven figures in two years and I’ve been able to build this organically and by myself and I don’t feel that an investor is right for us right now.”
Unndr sends subscribers a new bra and knickers set every month or quarter for £37, while individual sets can also be bought for £45 after their release. The business has grown into a multi-million-pound operation, with Panwar crediting her own work and the brand’s online community for helping it reach its current position.
Risks of TV Exposure Outweighed Rewards
For Panwar, the prospect of giving away a share of that business did not seem necessary at this stage. “I’m not sure that I need that TV exposure or anything like that anyway,” she said. “I know that it’s a bit hit and miss when you go on Dragons’ Den, you don’t know if you’re going to get scrutinised, you don’t know if you’re going to get loved.”
While appearing on the show can provide businesses with huge exposure, Panwar felt the potential rewards were not enough to outweigh the risks for her. “I guess that’s kind of part of the risk you take going into it,” she said. “But I think that we already have such amazing exposure with Unndr on socials and I work so hard at doing that and I’d rather double down and continue building my community by myself and have 100% of the equity whilst I feel like it’s the right decision right now.”
Retaining Full Ownership and Building Community
For many entrepreneurs, appearing on Dragons’ Den is seen as a major opportunity to secure investment and take a business to the next level. But Panwar believes she has already found a route that works for Unndr and, for now, would rather continue following it herself. Her decision means she has retained complete ownership of the company while continuing to grow its presence online and build a loyal customer base.
Rather than chasing television exposure, Panwar says she wants to focus on the community she has created around Unndr. The entrepreneur also believes there could be another opportunity to meet the Dragons away from the cameras in the future. “I’m also a believer of what is meant to be for you will come your way,” she said. “I believe I’m going to meet Emma, Steve and Peter one day in my own way and on my own terms and in a setting that isn’t on live TV and I will strive to make that happen but for now I think I’m best to do that on my way.”
For Panwar, turning down Dragons’ Den was not about rejecting the show altogether. Instead, it was a decision to trust the business she has built and continue growing Unndr on her own terms. With the company already reaching seven figures in two years, she remains confident that she does not need a Dragon’s backing to keep moving forward. Dragons' Den returns on Thursday 20 August at 8pm on BBC One and iPlayer.
