East India Company, the trading company with a 400-year-history whose highlight was ruling India – the 'jewel of the Crown' – will soon open outlets to sell tea, coffee, spices and fabrics. Bought in 2004 by Indian-origin businessman Sanjiv Mehta, the company will now seek to conquer the retail market by opening its flagship store in London. They plan to open more outlets in India, the Middle East, Japan, Russia and the US. The company was established in 1600 by Elizabeth I, but on 1 January 1874, it was dissolved after the Government of India Act transferred its powers to the Crown.