DEFINITION of 'Ingvar Kamprad'

The billionaire founder of Swedish furniture store giant IKEA, and one of the world's richest people according to Forbes. IKEA is known for stylish, functional and affordable self-assembled furniture.

BREAKING DOWN 'Ingvar Kamprad'

Kamprad founded the company in 1943, but it originally sold small items like wallets and ballpoint pens. The company did not focus on furniture until 1948 and soon began to operate by mail order, not opening a showroom until 1953. The first store opened in Sweden in 1958, and the United States saw its first IKEA in 1985. In 2009, the company operated 309 franchised retail stores in more than 35 countries.



RELATED TERMS
  1. Big Box Retailer

    A retail store that occupies an enormous amount of physical space ...
  2. Forbes

    Forbes is an American media and publishing company headed by ...
  3. Billionaire

    An individual who has assets or a net worth of at least one billion ...
  4. Big Ticket Item

    Big ticket items are high-value items, such as houses and cars, ...
  5. Ted English

    The CEO of Bob's Discount Furniture starting in 2006 and a former ...
  6. Steve Forbes

    Grandson of Bertie Charles Forbes, the founder of Forbes Magazine, ...
Related Articles
  1. Insights

    Has IKEA Reached 'Peak Curtains?'

    An IKEA executive made a comment that would have rankled investors (were IKEA not privately held). Here's what he (probably) really meant.
  2. Insights

    The World's Most Valuable Private Companies

    In spite of the rewards going public can bring, some companies prefer to remain private, and they are very successful in this.
  3. Managing Wealth

    5 Billionaires Who Live Below Their Means

    Imagine having millions or billions of dollars, but living like you do right now.
  4. Investing

    Top 5 Furniture Stocks of 2016

    These furniture stocks can help build your portfolio and possibly cushion against volatility.
  5. Investing

    What is Operating Revenue?

    Operating revenue is income that’s derived from sources related to a company’s everyday business operations.
  6. Small Business

    Top 6 Most Successful European Entrepreneurs

    Understand what makes European entrepreneurs successful. Learn about six European entrepreneurs who have found great success in terms of their net worth.
  7. Insights

    7 Real-Life Ways To Become A Billionaire

    How you pursue your billions is just as important as what you do. Here are some dos and don’ts to follow.
  8. Personal Finance

    Top 8 Companies Raising the Minimum Wage (MCD, SBUX)

    Learn how a slew of top companies raised their minimum wage, including Starbucks and Wells Fargo, and how this affected their business.
  9. Managing Wealth

    5 Reasons to Invest in Mid-Century Modern Furniture

    Look for original pieces from the mid-20th century (not reproductions) as worthwhile investments – and get the pleasure of living with them, too.
  10. Investing

    5 Retailers Set to Close More Stores in 2016 (FINL, GPS)

    Discover retail stores that have already announced plans to close stores in 2016. Some expect a new economic downturn, which may lead more stores to close.
RELATED FAQS
  1. What are the most popular companies in the retail sector?

    Learn about some examples of popular companies in the retail sector. Understand what makes these retail companies popular ... Read Answer >>
  2. How do investors interpret the same store sales ratio when analyzing retail stocks?

    Examine the importance of the same-store sales ratio as a key equity evaluation metric utilized by investors interested in ... Read Answer >>
  3. Is Sweden a developed country?

    Learn why Sweden is considered to be a developed country. Read about how Sweden scored highly on the Human Development Index ... Read Answer >>
  4. What do hard and soft goods in the retail sector refer to?

    Understand the difference between hardlines and softlines offered by various retailers and the characteristics of these basic ... Read Answer >>
  5. When are businesses required to use accrual accounting?

    Determine when the accrual accounting method must be used instead of cash accounting. Most businesses use accrual accounting ... Read Answer >>
Hot Definitions
  1. Federal Direct Loan Program

    A program that provides low-interest loans to postsecondary students and their parents. The William D. Ford Federal Direct ...
  2. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  3. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  4. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  5. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  6. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
Trading Center