IKEA

About IKEA Holdings US

IKEA is one of the European multinational groups, which designs as well as sells ready-to-assemble things including home accessories, furniture and kitchen appliances among other beneficial goods and even occasionally home services.

The company was founded in Sweden in the year 1943 by 17-year-old boy namely Ingvar Kamprad.

IKEA has also been considered as the world’s largest furniture retailer since the year 2008.

As per the Bloomberg Billionaires Index (as of January 2018) Kamprad was the 8th richest person in the world, who had an evaluated net worth of US$58.7 billion.

The name of the company is an acronym, which consists of the founder’s initials (Ingvar Kamprad) and also those of Elmtaryd that was the family farm where he was born, as well as the nearby village Agunnaryd that was his hometown in Småland, southern Sweden.

The business is basically a private company possessed by Inter IKEA Systems B.V., which is registered in the Netherlands as well as controlled by the sons of its founder Ingvar Kamprad.

The firm is well-known for its modern designs for numerous types of appliances as well as furniture. Its interior design work is generally associated with an eco-friendly clarity.

Also, the company has also built a good name for its attention to cost control, operational details, as well as continuous product development, which permitted IKEA to reduce its prices by an average of 2 to 3 per cent.

The IKEA group carries a complex corporate structure that is controlled by a number of foundations located in Liechtenstein as well as the Netherlands.

The company is also committed to approximately 1 per cent of world commercial-product wood consumption, which makes it one of the largest users of wood in the retail sector.

Most of the IKEA’s stores as well as factories are controlled by INGKA and also, INGKA acquired 90 per cent of IKEA’s revenue in the year 2018.

 

 

 

 

 

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