Founding
Ingvar Kamprad founded IKEA in 1943 as a mostly mail-order sales business. It began to sell furniture five years later.
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History of IKEA
Wednesday Jul 28, 1943 to Present
Sweden
IKEA is a Swedish-founded multinational group that designs and sells ready-to-assemble furniture, kitchen appliances and home products, among other useful goods and occasionally home services. It has been the world's largest furniture retailer since at least 2008. It was founded in Sweden in 1943 by 17-year-old carpenter Ingvar Kamprad, who was listed by Forbes in 2015 as one of the ten richest people in the world, worth more than $40 billion. The company's name is an acronym that consists of the initials of Ingvar Kamprad (name of founder), Elmtaryd (the farm where he grew up), and Agunnaryd (his hometown in Småland, southern Sweden).
The First Möbel-IKÉA Store
The first Möbel-IKÉA store was opened in Älmhult, Småland, in 1958 (Möbel means "furniture" in Swedish).
The First Store outside Sweden
The first store outside Sweden was opened in Norway (1963).
The First Store outside Scandinavia
The first store outside Scandinavia opening in Switzerland (1973).
IKEA Financial State of 2001
The Total Annual revenue of the Ikea Group worldwide in 2001 was 10.4 billion euros.
IKEA Financial State of 2002
The Total Annual revenue of the Ikea Group worldwide in 2002 was 11 billion euros.
IKEA Financial State of 2003
The Total Annual revenue of the Ikea Group worldwide in 2003 was 11.4 billion euros.
IKEA Financial State of 2004
The Total Annual revenue of the Ikea Group worldwide in 2004 was 12.9 billion euros.
IKEA Financial State of 2005
The Total Annual revenue of the Ikea Group worldwide in 2005 was 15 billion euros.
IKEA Financial State of 2006
The Total Annual revenue of the Ikea Group worldwide in 2006 was 17.5 billion euros.
IKEA Financial State of 2007
The Total Annual revenue of the Ikea Group worldwide in 2007 was 20 billion euros.
IKEA Home Stuff
In 2008, IKEA paired up with the makers of video game The Sims 2 to make a stuff pack called IKEA Home Stuff, featuring many IKEA products. It was released on 24 June 2008 in North America and 26 June 2008 in Europe. It is the second stuff pack with a major brand, the first being The Sims 2 H&M Fashion Stuff.
IKEA GreenTech
In August 2008, IKEA also announced that it had created IKEA GreenTech, a €50 million venture capital fund. Located in Lund (a university town in Sweden), it will invest in 8–10 companies in the coming five years with focus on solar panels, alternative light sources, product materials, energy efficiency and water saving and purification. The aim is to commercialise green technologies for sale in IKEA stores within 3–4 years.
Launching IKEA Family
On 8 August 2008, IKEA UK launched a virtual mobile phone network called IKEA Family Mobile, which ran on T-Mobile. At launch it was the cheapest pay-as-you-go network in the UK.
Subway Train Decorated In IKEA Style
In November 2008, a subway train decorated in IKEA style was introduced in Novosibirsk, Russia. Four cars were turned into a mobile showroom of the Swedish design. The redesigned train, which features colourful seats and fancy curtains, carried passengers until 6 June 2009.
IKEA Financial State of 2008
The Total Annual revenue of the Ikea Group worldwide in 2008 was 21.5 billion euros.
UNICEF announcement at The ECOSOC Event
On 23 February 2009, at the ECOSOC event in New York, UNICEF announced that IKEA Social Initiative has become the agency's largest corporate partner, with total commitments of more than US$180 million.
IKEA Financial State of 2009
The Total Annual revenue of the Ikea Group worldwide in 2009 was 21.8 billion euros.
The First IKEA Store In Latin America
The company later expanded into more countries in the 1990s and 2000s. The first IKEA store in Latin America opened on 17 February 2010 in Santo Domingo, Dominican Republic.
IKEA Financial State of 2010
The Total Annual revenue of the Ikea Group worldwide in 2010 was 23.5 billion euros.
The Wind Farm
On 17 February 2011, IKEA announced its plans to develop a wind farm in Dalarna County, Sweden, furthering its goal of using only renewable energy to fuel its operations.
IKEA Financial State of 2011
The Total Annual revenue of the Ikea Group worldwide in 2011 was 25.2 billion euros.
IKEA Financial State of 2012
The Total Annual revenue of the Ikea Group worldwide in 2012 was 27.6 billion euros.
The Company removed the Swedish meatballs from stores' shelves
In February 2013, IKEA announced it had pulled 17,000 portions of Swedish meatballs containing beef and pork from stores in Europe after testing in the Czech Republic found traces of horsemeat in the product. The company removed the Swedish meatballs from stores' shelves on 25 February 2013, but only made the announcement public after Swedish newspaper Svenska Dagbladet uncovered what happened.
IKEA has Stopped Providing Plastic Bags
Since March 2013, IKEA has stopped providing plastic bags to customers, but offers reusable bags for sale.
Ingvar Kamprad resigned
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. Following his decision to step down, the 87-year-old founder explained, "I see this as a good time for me to leave the board of Inter IKEA Group. By that we are also taking another step in the generation shift that has been ongoing for some years."
IKEA Financial State of 2013
The Total Annual revenue of the Ikea Group worldwide in 2013 was 28.5 billion euros.
Jang Duck-jin's announcement
Complaints arose from a group of consumers on IKEA's pricing policy in South Korea: the prices of certain products were higher than other countries. On 24 November 2014, Jang Duck-jin, head of the Fair Trade Commission's consumer policy bureau, told the media that the Commission was planning to commission a consumer group to compare IKEA's product prices by country.
IKEA Financial State of 2014
The Total Annual revenue of the Ikea Group worldwide in 2014 was 29.3 billion euros.
The Consumers Union of Korea's Report
On 19 March 2015, the Consumers Union of Korea published a report comparing the prices of 49 IKEA products in South Korea and other countries.
Safer Homes Together advertising campaign
In July 2015, IKEA, with the U.S. Consumer Product Safety Commission, through the company's Safer Homes Together advertising campaign, issued a warning in the United States, the United Kingdom, and Ireland to customers to secure the Malm chests of drawers and wardrobes firmly to the wall using free kits distributed by the company, after two deaths of young children in the U.S. in February and June 2014 when the furniture pieces tipped over on them.
"IKEA Family" cease to Operate
In June 2015 the network announced that "IKEA Family" would cease to operate from 31 August 2015.
IKEA Financial State of 2015
The Total Annual revenue of the Ikea Group worldwide in 2015 was 32.7 billion euros.
IKEA Recalled all Malm dressers
In June 2016, after a third toddler died in the U.S., IKEA recalled all Malm dressers as well as several similar models which posed a tipping danger if not secured to the wall with the supplied kit.
IKEA announced that it was extending this recall to China
On 12 July 2016, bowing to two weeks of rising pressure in China, IKEA announced that it was extending this recall to that country, which - along with Europe - was initially excluded from the recall. Over 29 million dressers have been recalled. IKEA has settled wrongful death lawsuits for over $50 million in compensation to the families of the three children who were killed.
IKEA Financial State of 2016
The Total Annual revenue of the Ikea Group worldwide in 2016 was 35.7 billion euros.
IKEA announced AR App "IKEA Place"
In 12 September 2017, IKEA announced the augmented reality app, IKEA Place, following by Apple's release of its ARkit technology and iOS 11. IKEA Place helps consumers to visualize true to scale IKEA products into real environment.
IKEA Financial State of 2017
The Total Annual revenue of the Ikea Group worldwide in 2017 was 36.3 billion euros.
Founder's Death
Founder Ingvar Kamprad died on 27 January 2018.
IKEA Financial State of 2018
The Total Annual revenue of the Ikea Group worldwide in 2018 was 37.05 billion euros.