The Compagnie des Indes occidentales, which replaced the COMPAGNIE DES CENT-ASSOCIÉS
, was established in May 1664 by Jean-Baptiste Colbert to drive Dutch traders from French colonies in the West Indies and the Americas, and to emulate Dutch and English commercial success. The company succeeded in the first aim, but failed in the second. It was essentially a state enterprise run by Colbert, and its impressive trade monopoly and seigneurial and governmental rights did not attract private capital. In December 1674 Colbert dissolved the ailing company and initiated the regime of direct governmental administration of colonies.