Industry: Home furnishings
Number of terms: 1
Number of blossaries: 1
Company Profile:
IKEA is a multinational group of companies that designs and sells ready-to-assemble furniture (such as beds, chairs and desks), appliances and home accessories.
Ingvar Kamprad born on March 30, 1926, Sweden. He started his entrepreneurial career by buying matches wholesale and re-selling them at modest profits. The name of the store IKEA, which was derived from his initials and the first letters of the town he grew up in. The founder of the successful Swedish furniture and household products began selling matches when I was a kid. The buying in bulk in Stockholm and sold a fair profit margin in the village where he was born. Slowly he climbed into the category of products: fish, seeds, Christmas decorations, pens, handbags, jewelry. Then he rented a van from milk to allocate orders. Until age 17 his father rewarded its good school with bonuses that allocated to the opening of Ikea. Building on local producers could keep prices low and in 1953 opened the first store dedicated to furniture, after leaving the remaining products. 63 years later has a cluster of 200 stores in 31 countries, 75,000 employees and annual sales of 13,500 million euros. Not to mention the division of banking and other financial arms extending for example the field of distribution and manufacturing. Yet despite its buoyant Ingvar Kamprad portfolio wealthy few extravagances allowed. Follow flying with budget airlines and staying in cheap hotels. His official residence is in Switzerland.