A summary of the case study: IKEA invades America
Lecturer, Dept. of Economics,
Tasnuva Amreen Khan - 2011020106012 (Group Leader) Sayeed ahmed Khan - 2011020106023 (Group coordinator) Amit Roy - 2011020106027 Ferdousy Rahman - 2011020106021
Md. Anis Uzzaman - 2011020106016
Date of submission: 3rd December, 2012 IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture such as beds, chairs, desks, appliances and home accessories. The company is the world's largest furniture retailer, founded in Sweden in 1943 by 17-year-old Ingvar Kamprad, who later became one of the richest people in the world.
The company's name is an acronym comprising the initials of the founder's name (Ingvar Kamprad), the farm where he grew up (Elmtaryd), and his hometown (Agunnaryd, South Sweden). The company is known for its modern architectural designs on various types of appliance and furniture, often associated with a simplified eco-friendly interior design.
Initially, the company sold basic household goods at discount prices; in 1947, however, Kampard began selling home furnishings. Six years later, Kampard opened his first furniture showroom, and two years after that, IKEA began designing its owned low priced furniture. In 1958, IEKA opened its inaugural store, in Almhult, Sweden; at 6700 square meters, it was the largest furniture display in Scandinavia at the time.
By the time IKEA opened its flagship store in Stockholm in 1965, IKEA had become the favored furniture shopping destination for price-conscious Swedes.
By 2002 IKEA was the world’s most prominent furniture retailer. Although the company...
Please join StudyMode to read the full document