Reid, originally from Michigan, moved to the UK in 2019 to study at London Business School, where he experienced firsthand the frustration of unreliable umbrellas in the city’s unpredictable weather. Determined to find a solution, he spent years refining a design that not only stands up to the elements but also tackles the biggest issue umbrella users face - where to put a wet umbrella after use. Trib, a strategy consultant, who studied business at the University of Leeds, joined Gilley in early 2024, bringing his expertise in product innovation and business strategy.
Facing the Dragons, Trib and Reid delivered a flawless pitch, demonstrating strong numbers, meticulous preparation, and a clear growth strategy, with Peter Jones recognising their business’s vast potential.
Peter Jones made an offer of £50,000 for 20% equity, significantly higher than the 3% stake the founders were willing to part with. Confident in their vision, Reid and Trib turned down the deal, believing they could push Gilley forward on their own terms.
Trib Gosain said: “We went into the Den looking for a strategic partner, but we also knew we were in a strong position. Peter saw the potential, and that’s a huge win for us. Now, we’re more focused than ever on growing Gilley into a global brand.”
Reid Jacoby added. “Although we walked away from his offer, Peter’s interest in Gilley was a huge validation of what we’re building. But ultimately, we knew our worth and stuck to our plan.”
Following its Dragons’ Den appearance, Gilley is entering its next phase of growth, with plans to expand its product line with new colours, sizes, and design features, whilst continuing to build a global brand, solving age-old umbrella problems for consumers throughout the world.
While they may have walked away from an investment deal, Reid and Trib left the Den with even greater momentum, validation, and confidence in Gilley’s future.
Watch the full episode of Dragons’ Den on BBC iPlayer.
