Sanjiv Mehta, the new owner of East India Company and the UK-based businessman, will be re-launching the company on Saturday. The re-launched company enters into high-end luxury goods in London.
“The project was not simply a commercial venture - there was an emotional connection too. It is a dream come true to build a business like this and to acquire a brand like this to own the company," NRI Sanjiv Mehta was quoted as saying.
According to reports, the East India Company will engage its business in areas including real estate, hospitality, health, furniture and fine foods. In addition, products including spices, chocolates and varieties of tea are also included. It is being reported that the company would also enter India in some time this year.
The Mumbai-born Sanjiv Mehta further added, "It's a disproportionate joy, I have received more than 15,000 e-mails of support from various Indians across India, even from Barbados to Fiji to Canada to Boston."
"India is the spirit of the East India Company in many ways - it evokes a huge amount of connectivity and emotions. It's also a major ambition to bring Indian products to the rest of the world. Today there is no single brand name from the East that can stand alongside, say, Hermes or Cartier from the West. The East India Company has that ability," Mehta said in a statement.
The East India Company was formed with the grant of an English Royal Charter from Elizabeth I on December 31, 1600. The company’s businesses include saltpetre, tea, silk, cotton, opium and indigo dye. The company was finally dissolved in the year 1874 under the terms of East India Stock Dividend Redemption Act.