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For example, as of 8 May ...
For example, as of 8 May 2015, Forbes shows Sweden's Ingvar Kamprad, the owner of Ikea, as #8 owning $43.1B, but Bloomberg shows him as #497 owning $3.5B.
Milestones in Our History - Inter IKEA Group
IKEA founder Ingvar Kamprad was born and grew up on the farm Elmtaryd, parish of Agunnaryd in SmÃ¥land, in the south of Sweden.
As a young boy Ingvar Kamprad knew that he wanted to develop a business.
Various events during his upbringing gave him a strong drive to create his own resources and to be independent.
The first commercial business was started in the name IKEA, initially a mail-order business selling pencils, postcards, and other merchandise.
The name derives from the initial letters of Ingvar Kamprad
and of Elmtaryd and Agunnaryd.
Furniture manufacturing was an additional business for many farmers in SmÃ¥land.
Furniture is introduced in the IKEA business
as a complement to the general merchandise.
This was a success and Ingvar Kamprad
starts exploring innovative solutions such as furniture design, self-assembly and advertising.
Here the customers can see and experience the quality of the products before ordering them and Ingvar
can meet customers in person and learn from them.
tried to influence both the customers and the factories.
attracted customers with products of good design, function and low price.
attracted factories with large orders.
Larger orders meant lower purchasing prices; thus enabling lower sales prices, more customers and higher sales volumes.
This was a revolution.
Without anybody noticing it, the largest change to date in furniture distribution had taken place.
believed that television would become an important part of peopleâ€™s life at home.
invested in a TV manufacture in Helsingborg.
was right about the future of TV but had underestimated the differences of being a furniture dealer and manufacturing TVs.
The television adventure was such a great loss that the entire business survival was threatened.
Competitors, who did not appreciate the intensive price pressure from the IKEA store, forced suppliers to stop their deliveries.
turned to Denmark to find new suppliers and in 1961 also to Poland.
Since then the Polish furniture industry has been an important partner to the IKEA operation.
with family, as well as certain IKEA office functions moves from Ã„lmhult in Sweden to HumlebÃ¦k in Denmark.
The booklet â€œThe Testament of a Furniture Dealerâ€ by Ingvar Kamprad
spends a lot of time thinking about how to secure longevity and independence for his
business and concept.
Ingvar wants to create a system and structure that always would be able to act in the best interests of the business and the many people.
The stock market was no option, and he
wants to avoid putting all eggs in one basket.
seeks for an ownership structure that could create best possible conditions for total independence and a long-term business perspective, an ownership structure that would be sustainable over many generations.
describes it as trying to give IKEA eternal life.
In the early 1980s, the IKEA founder also realises that in order to secure the international expansion and to ensure a fairly aligned brand experience to the customers he
needs to further develop and protect the unique and fast growing business.
An important challenge was to strike the balance in terms of keeping the concept fairly aligned without limiting or hinder the innovative spirit.
Providing the best possible conditions for business acumen and entrepreneurship was critical.
The answer was to separate the ownership of the retail operation from the ownership of the concept and the IKEA brand; to keep these separate roles apart in independent business groups, operating under a franchise system.
therefore donated a large number of the operating companies to a Dutch Foundation â€" the INGKA Foundation
- which today owns a large number of the IKEA franchisees.
Ingvar Kamprad retires from his executive management roles.
The IKEA operation had been divided into three separate and legally independent groups of companies - Inter IKEA Group
, INGKA Group and IKANO Group
- and now different executive management teams are appointed for each company group.
The booklet â€œA Little IKEA Dictionaryâ€ by Ingvar Kamprad
Ingvar Kamprad resigns from the board of Inter IKEA Group.
He also resigns from the Supervisory Council of Interogo Foundation.
Founder Ingvar Kamprad ...
Founder Ingvar Kamprad founded IKEA in 1943.
He was only seventeen at the time.
At the same time, he was also directly involved with fund-raising and recruitment for the New Swedish Movement, a pro-fascist, anti-Semitist group that emphasized Swedish Nationalism.
When the matter came out in 1994, Kamprad claimed it was the biggest mistake of his life.
He apologized for his involvement with the group and wrote a letter to every Jewish employee on his staff to personally apologize for his actions.
Even so, the issue caused a minor controversy when IKEA opened its first store in Israel.
In the end, the country seemed to forgive him and IKEA is now one of only a handful of companies to have stores in both Israel and other Muslim Middle Eastern countries.
* It Is Technically A Charity.
If Nazism wasn't bad enough, IKEA
is also has one of the most elaborate tax evasion schemes of any company that still manages to operate within the law.
is owned by INGKA Holding B.V.
, a Dutch corporation
that is controlled by a non-profit Dutch foundation known as the Stichting Ingka Foundation
, which was founded by Kamprad
This Foundation is headed by a five-person committee that includes Kamprad
wife, and his
intellectual property is owned by Inter IKEA Systems, which is owned, indirectly, by the Inerogo Foundation
, which is also controlled by Kamprad
While most people assume IKEA
is just a Swedish word or a nonsense word like Kodak, it is actually an acronym with close ties to Ingvar Kamprad's
The letters stand for his
initials, the initial for the farm he
grew up in, Elmtaryd, and the town the farm was located in, Agunnaryd.
* They Have A Very Specific Way Of Naming Products.
is dyslexic, he
found it extremely difficult to manage an inventory that was made up of product codes, so he
instead decided to name everything with words instead.
Ikea founder Ingvar Kamprad ...
Ikea founder Ingvar Kamprad was reportedly an active recruiter for a Swedish Nazi group, according to author Elisabeth Asbrink, BBC reports.
Ingvar Kamprad Biography - Swedish Billionaire
Ingvar Kamprad photo
Ingvar Kamprad founded IKEA, an international retailer of home furnishings that reinvented parts of the consumer market in the 1950s.
Kamprad is also the chairman of the Stichting INGKA Foundation, a charitable foundation that also owns the parent company to IKEA.
is relatively private, Kamprad
is well known as a successful entrepreneur and one of the wealthiest people in the world.
Born on March 30, 1926, Ingvar Feodor Kamprad grew up near Agunnaryd, Sweden on a small farm called Elmtaryd.
As a young boy Kamprad developed a business buying matches at wholesale in Stockholm and selling them for a profit to his
neighbors in the municipality of Ljungby.
could still make a good profit even if he
sold the matches at a considerable discount.
The potential was enormous and Kamprad
quickly grew his
business to include Christmas decorations, seeds, fish, and pens and pencils.
At the age of 17, Kamprad's father gave him money as a reward for his
success in school.
used the money to fund a retail business named IKEA
(an acronym that included his own initials plus those of the farm on which he grew up and the name of the nearby town of Agunnaryd).
The original IKEA
focused mostly on selling small household goods like wallets, picture frames, jewelry, nylon stockings and pens.
was focused on selling goods that consumers needed, but at a discount.
worked mostly on his
own as a mobile retailer making individual sales calls.
In 1945, two years after starting IKEA, Ingvar Kamprad began advertising his business in local papers and using milk trucks to help deliver his goods.
The trucks could not only deliver to homes, but also the local train station.
By 1947 he
business to include furniture by local manufacturers and within four years IKEA
removed all other products from their catalog and focused primarily on furniture.
With pressure from competitors, Kamprad
decided to open a furniture showroom in Almhult in 1953 to give consumers the ability to see and experience furniture prior to ordering.
By 1955, however, furniture manufacturers began boycotting IKEA
due to competitor pressure, forcing Kamprad
to begin creating designs specifically for IKEA
Shortly thereafter, storage and prices drove the company to create furniture that consumers could assemble.
was able to sell furniture for lower prices due to the money saved through cheaper storage and shipping.
Over the next few years, Ingvar Kamprad
continued turning unique consumer needs into retail opportunities for his
Although smaller stores opened a few years prior, Kamprad
first consumer retail warehouse in Stockholm in 1965 with an impressive 45,800 square feet of retail space.
Within twenty years he
expanded the store to countries around the world, finally expanding to over 114 stores in 25 countries worldwide.
The majority of IKEA
stores are now owned by the privately operated Stichting INGKA Foundation
, a charitable organization designed to promote architectural and design innovations.
Kamprad acts as the founder and chairman of the foundation.
is well known for his
frugality despite his
acquisition of properties and estates throughout Europe.
Kamprad's public persona of frugality is part of his
publicity for IKEA
and a means to set an example for the employees of his
In reality, Forbes
has ranked Kamprad
on the list of the world's wealthiest people for many years.
For a brief period in his
life, Ingvar Kamprad
was pro-Nazi and has since publicly apologized for his
involvement and even wrote letters to employees acknowledging his
This Ingvar Kamprad biography may not be reproduced online.
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