Mahindra Group has acquired a minority stake in the East India Company, the global luxury brand owned by Indian origin entrepreneur Sanjiv Mehta who relaunched the company here in August 2010.
Established in 1600, the East India Company (EIC) is one of the most recognised brands in the world. It once employed a third of the British workforce and was responsible for 50 per cent of global trade.
Anand Mahindra, managing director of the Mahindra Group, said: “The East India Company was the world’s first truly global brand spanning continents and centuries, and had a profound impact on the development of international trade. This immense vision and scope finds a parallel with Mahindra’s own global aspirations to think beyond its size.” The company, however, did not divulge the value of the deal or other details. Mehta, 49, launched the EIC’s first 21st century trade ‘expansion’ in the form of Fine Foods in Mayfair. He acquired the company in 2005 and has since invested $15 million. EIC sources told PTI that the company is now set to expand and launch on a global scale with an investment of $100 million over the next five years.