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Holly Willoughby teams up with Dragons' Den star Peter Jones for brand new business venture

Gemma Strong

Holly Willoughby is ready to add another string to her bow! The 35-year-old has teamed up with Dragons' Den entrepreneur and friend Peter Jones to set up an interior design firm called Truly Group Ltd. A source confirmed the news to the Sun, revealing that Holly will be running the company alongside Peter's partner Tara.

"Holly and her husband Dan have been good friends with Peter and Tara for a long time, and this is a project they have been chatting about quietly for a while," the insider said. "Now they've decided to put their plans into action and are very excited about turning their dream into a reality. They can't wait to get it off the ground, but there is still plenty of work to do first."

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Holly Willoughby has teamed up with Peter Jones to set up her own interior design firm

Mum-of-three Holly is best known for her presenting role on This Morning – but she has diversified in recent years, with non-TV projects including a clothing line with Very and a series of children's books, School for Stars, which she co-wrote with her sister Kelly. She also had her own homeware range at BHS before it closed its stories last year.

And this latest venture could make her the UK's wealthiest female TV presenter, ahead of the likes of Davina McCall and Mary Berry.

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Dragons' Den star Peter Jones pictured with his wife Tara

Brand expert Phil Pallen told the Daily Mail: "We can expect her to earn £10million, if not more. Many celebrities in the UK have parlayed their fame into successful home and lifestyle brands – Kylie Minogue and Kelly Hoppen come to mind.

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"Holly's wholesome, relatable public image, as well as her background – education, family and fame – make this a natural fit. Given her previous success with similar projects, it seems like a natural fit, especially when partnered with equally recognisable Peter Jones. That pair alone is enough to drum up lots of buzz and get people interested."

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