IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture such as beds and desks, appliances and home accessories. The company is the world 's largest furniture retailer. Founded in 1943 by 17-year-old Ingvar Kamprad in Sweden, the company is named as an acronym comprising the initials of the founder 's name (Ingvar Kamprad), the farm where he grew up, and his home paris (Timetoast, 2013). IKEA has 300 home furnishing superstores in 35 Countries and was visited by some 583 million shoppers (K. Kling and I. Goteman, 2003). IKEA’s low priced elegantly designed merchandise displayed in large warehouse stores, generated sales of $21.2 billion in 2008, up from 4.4 billion in 1994 (Pattairman, K., 2013). The fledgling company sold fish, charismas magazine, and seeds from his family farm. His first business had been selling matches, the enterprise Kamprad purchased them wholesale in 100 box lots and then resold individually at a higher mark up. Before long, Kamprad had added ballpoint pens to his list and was selling his products via mail order.
In 1948, Kamprad added furniture to his product line. In 1949 he published his first catalogue (Timetoast, 2013). Kamprad hired 22 years old designer, Gillis lundgren originally helped Kamprad to dophoto shoot for catalogue but, later he became a designer of many furniture for IKEA. Its goal was over time to provide stylish functional design that can be cost effective. Ultimately this led to concept of what IKEA calls “democratic design”. In 1957, IKEA started to exhibit and sell its products at home furnishing fairs in Sweden (Pattairman, K., 2013). By 1958, an expanded facility at the Almhult location became the first IKEA store. The original idea behind the store was to have a location where customer could come and see the IKEA furniture set up. Kamprad experimented with adding restaurant to the store so that customers could relax and refresh
References: Azlan, A. (2014). Kampungniagacaliphazlan. Retrieved March 23, 2015, from http://kampungniagacaliphazlan.blogspot.com/2014/10/5-rahsia-kejayaan-para- sahabat-nabi.html Jafry, A. (2012). SWOT, PESTEL, Porters Five Forces and Value Chain analysis of IKEA. London :http://www.afsheenjafry.com/IKEA.pdf. Journal, H. (2011). Ikea 's Strengths, Weaknesses, Oportunities and Threats. Retrieved November 22, 2013, from Hign 's Journal: http://highn.me/ikea-strengths- weaknesses-opportunities-and-threats/ K. Kling and I. Goteman, (2003). IKEA CEO Anders Dahvig on international growth and IKEA is unique corporate culture and brand identity. Academy of Management Executive. Retrieved February 2003. Vol. 17. Kokemuller, N. (2011). Advantages of the Cost-Leader Strategy. Retrieved March 30, 2015, from http://www.ehow.com/info_8611808_advantages-costleader-strategy.html Pattairman, K. (2013). IKEA Pest Analysis. Retrieved November 25, 2013, from Slideshare:http://www.slideshare.net/kripap/pest-analysis-20947996 SA, I. (2012). About IKEA Retrieved November 19, 2013, from IKEA SA:http:// www.ikea.com/ms/en_AA/about_ikea/the_ikea_way/index.html Timetoast. (2013). IKEA. Retrieved December 03, 2013, from Timetoast:http://www.timetoast.com/timelines/ikea—2 Torekull, B. (2011). The Ikea Story. Sweden: IKEA