East India Company Reborn as High-End Brand

East India Company is being re-launched as a luxury brand

East India Company, considered the first multinational company during British colonial rule in India, is being re-launched as a luxury brand by it Indian owners.

After a century of dormancy by the former trading giant, the intellectual property rights to the company was bought by Indian entrepreneur Sanjiy Mehta in 2005, with the goal of launching it as a high-end retail brand.

The new East India Co. store off Regent Street in London sells tea, gourmet, coffee, chocolate, and gifts.

“Its name has a huge relationship with all that is high-end products,” Mehta said.

The East India Co. was a trading company under Queen Elizabeth which started in 1600 by shipping products like dye, cotton, silk, opium, and tea from India, China, and the Spice Islands to the West. It was created to curb the influence of the Spanish, Portuguese, and Dutch in the area.

“It brought all the exotic foods from the East to the West,” Mehta said.

The new store features a tea library with more than 100 different kinds including black, green, herbal, and flavoured teas.

It also sells Japanese mustard, chocolates, as well as biscuits flavoured with red peppercorns and sea salt.

“There would not be tea on the tables of London but for The East India Co.,” Mehta said. “So, in a way, we own this category.”

The original East India Company became the symbol of the power and influence of the British Empire, which controlled its routes, military, and trade.

Around USD $20 million has been invested in the new company so far, said Mehta, who plans to invest USD $100 million more to open more stores selling additional items like jewellery and home furnishings.

Posted by Melanie Mendoza on Monday August 16 2010, 10:59 AM EST. All trademarks acknowledged. Filed under Featured News, Shopping. Comments and Trackbacks closed. Follow responses: RSS 2.0