Founded in 1943 by Ingvar Kamprad, the company began as a Swedish mail-order business that sold general merchandise. In 1948, Kamprad, a carpenter, added furniture to his mail-order offerings. The company produced its first IKEA furniture catalogue in 1951. A few years later, the company began designing its own furniture and introduced its self-assembly concept. IKEA’s first retail store opened in 1958 in Älmhult, Sweden. The strategy of opening a location away from a major city centre initially drew criticism but proved to be highly successful.
The company expanded internationally, with locations in Norway, Denmark, Switzerland and Germany during the 60s and 70s. IKEA adopted its franchise business model in the early 1980s, establishing Denmark-based INGKA Foundation to further facilitate worldwide growth. In 1986, Kamprad retired from his executive role with the business and set up three separate management companies: Inter IKEA Group, INGKA Group and IKANO Group.
In 1989, the Interogo Foundation was established as the principal owner of the Inter IKEA Group. IKEA Holding SA became the parent company for the business in 1991 – one of many management, ownership and structural changes through its following 25 years of global expansion.
- Family name: Kamprad family
- Sector: Consumer Products & Retail – Furniture
- Founded: 1943
- Founder: Ingvar Kamprad
- Country: Netherlands
- Company headquarters: Leiden, Netherlands
- Managers: Jesper Brodin, Torbjörn Lööf
- Revenue: US$37.1 billion
- Rankings:
- Family ownership: 100%
- Employees: 155,000
- Website: https://www.ikea.com
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