IKEA

IKEA is the world's largest furniture retailer, founded in 1943 by Ingvar Kamprad in Sweden. Under CEO Juvencio Maeztu, Ingka Group (the parent company of IKEA retail) reported EUR 41.5 billion in FY25 revenue while investing over EUR 2.1 billion in price reductions. IKEA operates 504 stores across 63 countries and maintains its unique ownership structure through the Stichting INGKA Foundation, ensuring family control and long-term vision.

IKEA was founded in 1943 by 17-year-old Ingvar Kamprad in rural Sweden. The company initially sold pens, wallets, and other small items before expanding into furniture in 1948. Kamprad's innovative approach included selling furniture in flat-pack form, which reduced shipping costs and allowed customers to assemble products themselves.

The first IKEA furniture showroom opened in Älmhult, Sweden in 1958, introducing the concept of displaying furniture in realistic room settings. The company's iconic blue and yellow logo and product naming system (using Swedish names for people, places, and things) were established during this period.

Throughout the 1960s and 1970s, IKEA expanded internationally, opening stores across Europe and introducing its signature restaurant concept featuring Swedish meatballs. The company pioneered the concept of self-service furniture retailing and developed its global supply chain to support rapid expansion.

The 1980s and 1990s saw IKEA enter new markets including North America and Asia. The company faced challenges adapting to different cultural preferences but continued to grow by maintaining its core values of affordability, functionality, and Scandinavian design. Ingvar Kamprad stepped down from daily management in 1986 but remained involved until his death in 2018.

In recent years, IKEA has continued to expand globally while focusing on sustainability and digital transformation. In 2025, the company opened its first store in New Zealand, bringing its complete product range virtually across the country. The company has significantly expanded its second-hand marketplace, now active in five countries, supporting its ambition to make sustainable living more accessible and affordable.

In 2026, Ingka Group reported FY25 revenue of EUR 41.5 billion, serving more customers with a 1.3% increase in store visitation and 4.6% growth in online visits. Despite economic uncertainty and cost-of-living pressures, IKEA invested over EUR 2.1 billion in lowering prices across thousands of products, demonstrating its commitment to affordability. The company also achieved 60% zero-emission home deliveries and 95% renewable electricity sourcing, highlighting its leadership in sustainability initiatives.