IKEAIkea logo.svgTypePrivateIndustryRetailFounded28 July 1943; 76 years agoFounderIngvar KampradHeadquartersDelft, NetherlandsNumber of locations433 (2019) Area servedWorldwideKey peopleJesper Brodin (chairman and CEO of INGKA Holding)Torbjörn Lööf (chairman and CEO of the Inter IKEA Group)ProductsReady-to-assemble furniture, homeware, food productsRevenueIncrease €41.3 billion (US$45.4 billion) (FY 2019)Owner Inter IKEA GroupNumber of employees211,000 (2019)Website
IKEA (/aki/ eye-KEE-, Swedish: [kê a]) is a Swedish-founded European multinationalɪˈːəəɪˈːgroup that designs and sells ready-to-assemble furniture, kitchen appliances and homeaccessories, among other useful goods and occasionally home services. Founded in Sweden in1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since2008. According to the Bloomberg Billionaires Index, as of January 2018,Kamprad was the eighth richest person in the world, with an estimated net worth of US$58.7billion. The company's name is an acronym that consists of the founder's initials(Ingvar Kamprad) plus those of Elmtaryd, the family farm where he was born, and the nearbyvillage Agunnaryd (his hometown in Småland, southern Sweden).The business is a private company owned by Inter IKEA Systems B.V., registered in theNetherlands and controlled by the sons of its founder Ingvar Kamprad. The company is knownfor its modernist designs for various types of appliances and furniture, and its interior designwork is often associated with an eco-friendly simplicity. In addition, the firm is known for itsattention to cost control, operational details, and continuous product development that allowedIKEA to lower its prices by an average of two to three percent. The IKEA group has a complexcorporate structure, which members of the European Parliament have alleged was designed toavoid over €1 billion in tax payments over the 2009–2014 period. It is controlled byseveral foundations based in the Netherlands and Liechtenstein.As of June 2019, there are 433 IKEA stores operating in 52 countries and in fiscal year 2018,€38.8 billion (US$44.6 billion) worth of IKEA goods were sold. The IKEA website containsabout 12,000 products and there were over 2.1 billion visitors to IKEA's websites in the yearfrom September 2015 to August 2016. The company is responsible for approximately 1% ofworld commercial-product wood consumption, making it one of the largest users of wood in theretail sector.
Most of IKEA's stores and factories are owned by INGKA, a holding company controlled by theStichting INGKA Foundation, one of the 40 wealthiest foundations in the world. INGKAreceived 90% of IKEA's revenue in 2018.HistoryThis section appears to be slanted towards recent events. Please try to keep recent events inhistorical perspective and add more content related to non-recent events. (January 2018) (Learnhow and when to remove this template message)Main article: List of countries with IKEA stores