IKEA

Who owns IKEA?
IKEA is owned by the Stichting INGKA Foundation, a Dutch foundation established by Ingvar Kamprad in 1982. The foundation owns INGKA Holding B.V., the parent company of Ingka Group, which is the largest IKEA retailer. The IKEA brand and concept are owned by Inter IKEA Systems B.V., which licenses them to IKEA franchisees worldwide. The Kamprad family maintains influence through this structure, and 85 percent of Ingka Group's net profit is reinvested in the business while 15 percent goes to the foundation to fund the IKEA Foundation's charitable work.

Is IKEA publicly traded?
No, IKEA is privately held through the Stichting INGKA Foundation. The company does not have public shareholders and is not listed on any stock exchange. This structure allows IKEA to take a long-term perspective and reinvest 85 percent of net profit back into the business without pressure from quarterly earnings expectations.

Who is the CEO of IKEA?
Juvencio Maeztu is the CEO and President of Ingka Group, the largest IKEA retailer. He succeeded Jesper Brodin on November 5, 2025. Maeztu is the first non-Swede to lead Ingka Group. He joined IKEA in 2001 as a store manager in Madrid and previously served as CEO of IKEA India and Deputy CEO and CFO of Ingka Group. Brodin served as CEO for 8 years and remains as senior advisor until end of February 2026.

Who founded IKEA?
IKEA was founded in 1943 by Ingvar Kamprad in Älmhult, Sweden. Kamprad started the company at age 17, initially selling small items by mail order before expanding into furniture. He developed the flat-pack concept that revolutionized furniture retailing and established the foundation ownership structure in 1982 to secure IKEA's long-term independence. Kamprad died in 2018 at age 91.

What is IKEA's revenue?
Ingka Group, the largest IKEA retailer, reported total revenue of EUR 41.5 billion for fiscal year 2025 (September 1, 2024 to August 31, 2025), a decrease of 0.9 percent from EUR 41.8 billion in FY24. IKEA Retail sales were EUR 39 billion. Operating income was EUR 1.5 billion, and net profit was EUR 1.4 billion, up from EUR 0.8 billion in FY24. The company invested over EUR 2.1 billion in lowering prices during the year.

How many people does IKEA employ?
Ingka Group employed 166,460 co-workers as of August 31, 2025, across its 31 markets. This figure includes employees in IKEA Retail, Ingka Investments, and Ingka Centres. The number is essentially unchanged from 166,732 in FY24. IKEA refers to its employees as "co-workers" and maintains a culture emphasizing equality, with 49.8 percent of management positions held by women in FY25.

How many IKEA stores are there?
Ingka Group operates approximately 390 IKEA stores across 31 markets, including traditional blue box stores, city stores, and other formats. The total number of IKEA stores globally is higher when including other franchisees, but Ingka Group represents 88 percent of IKEA retail sales. In FY25, IKEA expanded with new customer meeting points in Delhi, London, and Paris, and opened a digitally integrated mixed-use store at IKEA Shanghai Linkong.

IKEA was founded in 1943 by 17-year-old Ingvar Kamprad in Älmhult, Sweden. The company initially sold pens, wallets, and other small items by mail order 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, revolutionizing the furniture industry.

The first IKEA furniture showroom opened in Älmhult 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. The first IKEA restaurant opened in 1960, introducing Swedish meatballs that would become a cultural phenomenon.

Throughout the 1960s and 1970s, IKEA expanded internationally, opening stores across Scandinavia and then into broader Europe. The company pioneered self-service furniture retailing and developed its global supply chain to support rapid expansion. The first store outside Scandinavia opened in Switzerland in 1973, followed by Germany in 1974.

The 1980s and 1990s saw IKEA enter North America (1985) and Asia (1990s). The company adapted products to local tastes, adjusting bed sizes for the U.S. market and modifying designs for Asian consumers. Ingvar Kamprad stepped back from daily management in 1986 but remained involved with the company until his death in 2018.

In 1982, Kamprad established the Stichting INGKA Foundation in the Netherlands to secure the long-term independence and financial stability of IKEA. The foundation owns INGKA Holding B.V., which is the parent company of Ingka Group. The IKEA brand and concept are owned by Inter IKEA Systems B.V., which licenses them to IKEA franchisees worldwide. This structure ensures that IKEA remains privately held and foundation-controlled.

Under Jesper Brodin's leadership as CEO from 2017 to 2025, IKEA transformed into an omnichannel retailer, expanding beyond its traditional large blue box stores into city-center formats, planning studios, and e-commerce. The company expanded into new markets including India, where it opened stores in Hyderabad, Mumbai, and Delhi. Brodin also accelerated sustainability initiatives, including the launch of IKEA Pre-owned, a second-hand marketplace, and investments in renewable energy.

In September 2025, Ingka Group announced that Juvencio Maeztu would succeed Jesper Brodin as CEO and President. Maeztu, a 25-year IKEA veteran who started as a store manager in Madrid, previously served as Deputy CEO and CFO since 2018 and as CEO of IKEA India for six years. He is the first non-Swede to lead Ingka Group. Maeztu began his role on November 5, 2025, with Brodin remaining as senior advisor until end of February 2026.

In FY25, IKEA opened new customer meeting points in key cities including Delhi, London, and Paris. The company expanded its IKEA Pre-owned second-hand marketplace and opened a digitally integrated mixed-use store at IKEA Shanghai Linkong. The company also consolidated Ikano Bank, which contributed to revenue growth outside of retail sales.

IKEA's sustainability strategy is organized under its "Journey to Tomorrow" program and Net Zero Transition Plan, published in February 2025. The company has committed to reducing absolute greenhouse gas emissions by at least 50 percent by 2030, compared to a 2016 baseline, and achieving net zero by 2050.

Environmental Initiatives
IKEA has achieved 95 percent renewable electricity sourcing across its operations and 60 percent zero-emission home deliveries. The company has invested EUR 7.5 billion in renewable energy, including solar, wind, and battery projects. Ingka Investments owns and operates renewable energy assets in markets where IKEA operates, producing enough electricity to power approximately 1.5 million homes.

The company has eliminated small amenity bottles in favor of bulk dispensers and has committed to using only renewable and recycled materials in its products by 2030. IKEA's circular economy initiatives include the IKEA Pre-owned second-hand marketplace, furniture buy-back and resell programs, and product design for disassembly and recycling.

IKEA does not hold B Corp certification. The company's sustainability claims are based on its own reporting through the Annual Summary and Sustainability Report. Readers should note that corporate sustainability reports represent first-party sources and should be evaluated alongside independent assessments.

Social Responsibility
IKEA maintains the Responsible Wage Practices framework and a systematic approach to closing the gender equal pay gap. In FY25, 49.8 percent of co-workers in management and leadership positions were women. The company publishes a Modern Slavery Statement and maintains comprehensive supplier codes of conduct addressing environmental standards, human rights, and ethical business practices.

The IKEA Foundation, funded by the Stichting INGKA Foundation's dividend, focuses its grant making on fighting global warming. The foundation is an independent philanthropic organization that operates separately from IKEA's commercial operations.

IKEA has received recognition for sustainability leadership, design innovation, and corporate responsibility. Specific recognition includes:

• Net Zero Transition Plan published February 2025, providing a roadmap for 50 percent emissions reduction by 2030
• 95 percent renewable electricity sourcing across operations (FY25)
• 60 percent zero-emission home deliveries (FY25)
• IKEA Pre-owned second-hand marketplace expansion to multiple countries
• First non-Swede CEO appointed (Juvencio Maeztu, November 2025), reflecting global corporate culture

IKEA has faced significant controversy and regulatory scrutiny across several areas.

Romanian Forest Destruction Allegations
In April 2024, environmental organizations Agent Green and the Bruno Manser Fonds published a report titled "IKEA: Smart Outside, Rotten Inside," documenting over 50 suspected violations of EU or Romanian legislation in nine forest areas owned by Ingka Investments or linked to IKEA's supply chain. The investigation found that approximately 90 percent of Ingka's Romanian forests were managed for intensive wood production, with only 1.04 percent under strict protection, despite four of seven areas overlapping with Natura 2000 protected sites. The report documented clear-cutting of biodiverse woodlands, exceeding allowed extraction volumes, and failure to preserve biodiversity-rich trees.

A separate Greenpeace investigation published in 2024 found that at least seven IKEA wood suppliers were linked to the destruction of old growth forests in Romania's Carpathian Mountains, including two Natura 2000 protected sites. At least 30 products from these suppliers were traced to IKEA stores in 13 countries.

Ingka Group and Inter IKEA Group strongly disputed the findings, stating that authorities found no evidence of non-compliance and that their practices comply with national laws and FSC certification standards. The environmental groups acknowledged that IKEA's sourcing practices are legal under Romanian law but argued that the company exploits weak enforcement and inadequate protection measures for old growth forests.

IKEA is Romania's largest private landowner, holding approximately 51,000 hectares (126,000 acres) of forest. In 2019, IKEA consumed approximately one tree per second, according to the nonprofit Earthsight, and the company owns over 2,800 square kilometers of forest worldwide.

Age Discrimination Lawsuits
IKEA settled five lawsuits alleging age discrimination in August 2024. The cases included Paine v. IKEA Holding US, Inc., filed in 2019, which claimed IKEA maintained a "corporate culture of age bias" that favored younger employees for promotion while demoting older workers. Another case, Donofrio v. IKEA US Retail, LLC, alleged that IKEA managers openly expressed age bias and that older workers were labeled as lacking "potential." In 2023, a judge ordered IKEA to pay $566,000 for spoliation of evidence after the company deleted emails it had been ordered to preserve. The settlement terms were not publicly disclosed.

South Carolina Solar Project Controversy
In 2025, Ingka Investments faced controversy over a solar energy project in Williamsburg County, South Carolina. The project, called Kingstree West, involves clearing approximately 17,000 acres of land that Ingka owns in the state for solar development. Local residents raised concerns about flooding risk from clear-cutting, destruction of habitat, and the potential destruction of Native American archaeological sites, including a possible burial mound. A resident filed a lawsuit in June 2025 alleging the county withheld public information and failed to allow citizen input. Ingka stated the project is in full compliance with county ordinances and will produce enough electricity to power 15,000 homes. The case highlights tensions between IKEA's renewable energy investments and local community and environmental concerns.

Regulatory Compliance
As a global retailer operating across 31 markets, IKEA must comply with product safety standards, environmental regulations, trade compliance, and labor laws across multiple jurisdictions. The company faces ongoing scrutiny regarding supply chain labor practices, particularly in manufacturing facilities in Asia. U.S. tariffs on imported goods pose a challenge to IKEA's import-based business model, potentially affecting pricing and supply chain strategy.