IKEA
Overview
IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture such as beds and desks, appliances and home accessories. The company is the world's largest furniture retailer. Founded in 1943 by 17-year-old Ingvar Kamprad
in Sweden
, the company is named as an acronym comprising the initials of the founder's name (Ingvar Kamprad), the farm where he grew up (Elmtaryd), and his home parish (Agunnaryd
, in Småland
, South Sweden).
The firm is known for the attention it gives to cost control, operational details and continuous product development, allowing it to lower its prices by an of average 2 to 3% over the decade to 2010, while continuing its global expansion.
The groups of companies that form IKEA are all controlled by INGKA Holding B.V., a Dutch corporation, which in turn is controlled by a tax-exempt, not-for-profit Dutch foundation
.
Ingvar Kamprad
Ingvar Feodor Kamprad is a Swedish and the founder of IKEA, a retail company.According to Forbes magazine, as of 2011 he is the 162nd wealthiest person in the world with an estimated net worth of around US$6 billion in 2011...
in Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
, the company is named as an acronym comprising the initials of the founder's name (Ingvar Kamprad), the farm where he grew up (Elmtaryd), and his home parish (Agunnaryd
Agunnaryd
Agunnaryd is a locality and a parish situated in Ljungby Municipality, Kronoberg County, Sweden with 215 inhabitants in 2005.Agunnaryd is chiefly associated with the industrialist Ingvar Kamprad, who founded IKEA . It has one school, a kindergarten, a small supermarket named 'Mat öppet', and four...
, in Småland
Småland
' is a historical province in southern Sweden.Småland borders Blekinge, Scania or Skåne, Halland, Västergötland, Östergötland and the island Öland in the Baltic Sea. The name Småland literally means Small Lands. . The latinized form Smolandia has been used in other languages...
, South Sweden).
The firm is known for the attention it gives to cost control, operational details and continuous product development, allowing it to lower its prices by an of average 2 to 3% over the decade to 2010, while continuing its global expansion.
The groups of companies that form IKEA are all controlled by INGKA Holding B.V., a Dutch corporation, which in turn is controlled by a tax-exempt, not-for-profit Dutch foundation
Foundation (charity)
A foundation is a legal categorization of nonprofit organizations that will typically either donate funds and support to other organizations, or provide the source of funding for its own charitable purposes....
.
