Description

History of IKEA

The year IKEA was established in 1943 by Ingvar kamprad to sell, pens, wallets and so on. In year 1958, IKEA grew and was introduced as a leader of Swedish Furniture and started to produce local furniture by local manufacturers. Later creating furniture for flat packs and self-assembly to reduce storage space. IKEA slowly expanded their business by opening up kitchenware and restaurant. The largest furniture IKEA display was in Scandinavia and the first store to be open was in Almhult, Sweden. From there IKEA develeoped by opening more stores in other countries such as Germany, Norway and so forth.

Vision of IKEA

The IKEA’s vision is “to create everyday life for many people everyday life for the many people”.

Objective of IKEA

IKEA’s main objective is to invest and expand their business while maximize profit in return.

Goal of IKEA

IKEA’s goal is to produce or offer a wide range of well-designed product, functional home furnishing product, interior and so on in a low price so many people will be afford to buy their products. It is trying to build up a good relationship with the customer . Basically IKEAs concept is to sell good product in a low price.

Structure of IKEA

IKEA is owned and operated by a complicated array of not-for-profit and profit corporations.

Inter IKEA Systems is owned by Inter IKEA Holding BV, a company registered in the Netherlands, formerly registered in Luxembourg (under the name Inter IKEA Holding SA). Inter IKEA Holding, in turn, is owned by the Interogo Foundation, based in Liechtenstein. In 2016, the INGKA Holding sold its design, manufacturing and logistics subsidiaries to Inter IKEA Holding.

In June 2013, Ingvar Kamprad resigned from the board of Inter IKEA Holding SA and his youngest son Mathias Kamprad replaced Per Ludvigsson as the chairman of the holding company. After the 2016 company restructure, Inter IKEA Holding SA no longer exists, having reincorporated in the Netherlands. Mathias Kamprad became a board member of the Inter IKEA Group and the Interogo Foundation. Mathias and his two older brothers, who also have leadership roles at IKEA, work on the corporation's overall vision and long-term strategy.

 IKEA has a unique organizational structure. Specifically, “around the globe, a large number of companies operate under the IKEA trademarks. All IKEA franchisees are independent of Inter IKEA Group. A large group of franchisees are owned and operated by INGKA Group. Inter IKEA Group and INGKA Group have the same founder, and a common history and heritage.