IKEA is a Swedish-founded, Dutch-headquartered multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other goods and home services. Started in Sweden in 1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008. The brand used by the group is an acronym that consists of the founder's initials, and those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd (his hometown in Småland, southern Sweden).
The group is primarily known for its modernist designs for various types of appliances and furniture, and its interior design work is often associated with an eco-friendly simplicity. In addition, the firm is known for its attention to cost control, operational details, and continuous product development that has allowed IKEA to lower its prices by an average of two to three percent.
Subject ID: 48884
MoreIKEA is a Swedish-founded, Dutch-headquartered multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other goods and home services. Started in Sweden in 1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008. The brand used by the group is an acronym that consists of the founder's initials, and those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd (his hometown in Småland, southern Sweden).
The group is primarily known for its modernist designs for various types of appliances and furniture, and its interior design work is often associated with an eco-friendly simplicity. In addition, the firm is known for its attention to cost control, operational details, and continuous product development that has allowed IKEA to lower its prices by an average of two to three percent.
INGKA Holding B.V., based in the Netherlands, owns the Ingka Group, which takes care of the centers, retails, customer fulfillment, and all the other services related to IKEA products. At the same time, the IKEA brand is owned and managed by Inter IKEA Systems B.V., based in the Netherlands, owned by Inter IKEA Holding B.V. Inter IKEA Holding is also in charge of design, manufacturing and supply of IKEA products. Ingka Group is a franchisee that pays 3% of royalties to Inter IKEA Systems. As of March 2021, there are 422 IKEA stores operating in 50 countries and in fiscal year 2018, €38.8 billion (US$44.6 billion) worth of IKEA goods were sold. All IKEA stores are operated under franchise from Inter IKEA Systems B.V., most of which are operated by Ingka Group; some of them are operated by other independent owners.
The IKEA website contains about 12,000 products and there were over 2.1 billion visitors to IKEA's websites in the year from September 2015 to August 2016. The group is responsible for approximately 1% of world commercial-product wood consumption, making it one of the largest users of wood in the retail sector.
Subject ID: 48884
Subject ID: 48884