In a twist of fate, Indian entrepreneur Sanjiv Mehta’s journey to owning the historic East India Company has been nothing short of extraordinary. Born into a Gujarati family in October 1961, Mehta had strong connections to the West right from the start. His grandfather, Gafurchand Mehta, had established a diamond trading business in Belgium in the 1920s, but circumstances later led the family back to India.
Who Is Sanjiv Mehta Who Bought The East India Company
Sanjiv Mehta received his education in India, completing his schooling and college studies. He attended the prestigious Sydenham College in Mumbai and graduated from the renowned IIM Ahmedabad. Additionally, he holds a degree from the Gemological Institute of America in Los Angeles.In the 1980s, Mehta made his way to London to embark on his export business venture.
He achieved significant success with his venture called Huggie hot water bottles, which he later sold for a substantial amount of 80,000 pounds. This capital became the foundation for his other business endeavors. As time passed, Mehta expanded his business to various countries such as Warsaw, Berlin, St. Petersburg, Azerbaijan, and Yugoslavia, attracting big companies like Unilever and Nestlé for supplies.
Buying Out East India Company, A Tale Of Serendipity
The revival of the East India Company, primarily as a tea and coffee seller, was attempted in 2003 by a group of stockholders who owned it. For many years, the East India Company had remained dormant, confined to memories and history books. However, in 2005, following an 18-month buying spree, Sanjiv Mehta emerged as the sole owner of the East India Company.
The East India Company holds a 400-year-old history, most notably known for its significant role in ruling India, often referred to as the ‘jewel of the Crown.’ Established in 1600 by Queen Elizabeth I, it eventually dissolved on 1 January 1874, with its powers transferred to the Crown through the Government of India Act. The East India Company (EIC) is a globally recognized brand, once employing a third of the British workforce and being responsible for half of the global trade.
East India Company And Anand Mahindra Connection
With the acquisition of the East India Company, Mehta’s journey seemed to have come full circle. Interestingly, in 2011, the Mahindra Group acquired a minority stake in the East India Company, which is now a global luxury brand under the ownership of Indian-origin entrepreneur Sanjiv Mehta. The company was relaunched in London in August 2010, connecting the modern era to its historical roots.
