IKEA

For the city in Nigeria, see Ikeja.

Inter IKEA Systems B.V.
IKEA
Company typePrivate
IndustryRetail
Founded28 July 1943; 81 years ago (1943-07-28)[1] in Sweden
FounderIngvar Kamprad
Headquarters
Leiden
,
Netherlands
Number of locations
473 (2024)[2]
Area served
Worldwide
Key people
Products
RevenueIncrease €45.1 billion (2024)[5]
Website

Inter IKEA Systems B.V.,[6][7] trading as IKEA (/aɪˈkiːə/ eye-KEE-ə, Swedish: [ɪˈkêːa]), is a multinational conglomerate, founded in Sweden but now headquartered in the Netherlands, that designs and sells ready-to-assemble furniture, kitchen appliances, decoration, home accessories, and various other goods and home services. Started in 1943 by Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008.[8][9][10][11][12] The brand name is an acronym of founder Ingvar Kamprad's initials; Elmtaryd, the family farm where Kamprad was born; and the nearby village of Agunnaryd, Kamprad's hometown in Småland.[13][14]

The group is primarily known for its modernist furniture designs, simple approach to interior design, and its immersive shopping concept, based around decorated room settings within big-box stores, where customers can interact with products onsite. In addition, the firm is known for its attention to cost control and continuous product development, notably, the ready-to-assemble model of furniture sales, and other elements which have allowed IKEA to establish lower prices than its competitors.

As of September 2024, there are 473 IKEA stores operating in 63 countries[15] and in fiscal year 2024, €45.1 billion worth of IKEA goods were sold.[16] For multiple reasons, including lowering taxes payable, IKEA uses a complicated corporate structure. Within this structure, all IKEA stores are operated under franchise from Inter IKEA Systems B.V. which handles branding, design, manufacturing, and supply. Another part of the IKEA group, Ingka Group, operates the majority of IKEA stores as a franchisee and pays royalties to Inter IKEA Systems B.V.[17][18] Some IKEA stores are also operated by independent franchises.[19] The IKEA website contains about 12,000 products and there were over 4.6 billion visitors to IKEA's websites in FY2024.

  1. ^ Hitti, Natasha (2 August 2018). "IKEA celebrates 75th anniversary with vintage furniture collections". Dezeen. Archived from the original on 12 August 2019. Retrieved 25 August 2021.
  2. ^ "How we work – IKEA Global".
  3. ^ "IKEA Has a New CEO". Fortune. 24 May 2017. Archived from the original on 18 June 2019. Retrieved 5 December 2017.
  4. ^ "IKEA finalizing its biggest overhaul in decades". Reuters. Archived from the original on 18 June 2019. Retrieved 19 December 2020.
  5. ^ "IKEA continues to lower prices for customers".
  6. ^ "Inter IKEA Systems B.V." OpenCorporates. Retrieved 2 September 2023.
  7. ^ "Privacy statement for inter.ikea.com". inter.ikea.com. 10 September 2020. Retrieved 2 September 2023.
  8. ^ "Topic: Ikea". statista.com. Archived from the original on 16 June 2014. Retrieved 14 January 2017.
  9. ^ Loeb, Walter. "IKEA Is A World-Wide Wonder". Forbes. Archived from the original on 22 November 2020. Retrieved 14 January 2017.
  10. ^ "How IKEA creator Ingvar Kamprad built the world's largest furniture retailer – and a $39 billion fortune". Business Insider. Archived from the original on 11 August 2020. Retrieved 14 January 2017.
  11. ^ Zuvela, Maja (8 January 2008). "IKEA mulls joint venture with Bosnia furniture maker". Reuters. Archived from the original on 31 October 2015. Retrieved 24 July 2013.
  12. ^ "Profiles of 50 major furniture retailers worldwide – Market Research – Report by CSIL". worldfurnitureonline.com. CSILMilano Research and Studies. Archived from the original on 10 October 2014. Retrieved 14 January 2017.
  13. ^ "The story behind Ikea's 'quirky' product names". The Times of India. 10 August 2018. Archived from the original on 9 November 2020. Retrieved 10 August 2018.
  14. ^ "Ingvar Kamprad and IKEA". Harvard Business School Publishing, Boston, MA, 02163. 1996
  15. ^ "Update from IKEA CEO". Archived from the original on 20 October 2021. Retrieved 20 October 2021.
  16. ^ "FY24 IKEA Stats from the CEO". Reuters. Archived from the original on 23 December 2018. Retrieved 23 December 2018.
  17. ^ "Who Owns IKEA? IKEA Business Model In A Nutshell". FourWeekMBA. 24 August 2018. Archived from the original on 25 October 2020. Retrieved 19 November 2020.
  18. ^ Greens-EFA letter to Commissioners Vestager and Moscovici – IKEA report, 12 February 2016 Archived 16 January 2017 at the Wayback Machine Retrieved 16 February 2016.
  19. ^ "About the IKEA group – IKEA". ikea.com. Archived from the original on 4 February 2018. Retrieved 19 November 2020.