Who Is Ingvar Kamprad
Ingvar Kamprad was the founder of Swedish furniture store giant IKEA, and one of the world's richest people according to Forbes. He founded IKEA at the age of 17 following his vision for creating a better everyday life for people. His vision turned into a multi-billionaire business with 412 IKEA stores in 49 markets as of 2017. Kamprad kept IKEA as a tightly controlled private company under the Ikano Group, so financial details are limited. However, the company did report sales of 43 billion Euro in 2017.
Kamprad died on January 27th, 2018 at the age of 91 in his home country after an illness, according to the company. IKEA had become one of the world's most recognized brands and is widely known for stylish, functional and affordable self-assembled furniture.
Kamprad founded the company in 1943 with a small gift from his father. It originally sold small items like wallets, picture frames 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. Kamprad sourced furniture from local designers, and helped develop the flat-pack system for transporting ready-to-assemble products that could be picked up easily in store or transported by truck.The first store opened in Sweden in 1958, and the United States saw its first IKEA in 1985. The name IKEA was created by Kamprad as a reflection to his humble beginnings in Southern Sweden. It stands for Ingvar Kamorad from Elmtaryd Agunnaryd, the town where he was raised.