IKEA is a well-known company for selling ready-to-assemble furniture and accessories. It stands for function, quality, design and value. One important characteristic is, that it is affordable for everyone.
IKEA was founded by 17-year old Ingvar Kamprad in Sweden in 1943. The company name is an acronym with the initials of Ingvar Kamprad, Elmtaryd (the name of the farm he grew up) and Agunnaryd (his hometown in Smaland). Now IKEA is the largest furniture retailer in the world and is responsible for about 1% of wood consumption worldwide.
In addition, over the decade till 2010, in global expansion period, the firm focused on controlling the cost, details of operational and continuous development of products which enable IKEA to lower in average of two to three per cent of their prices.
In the Netherlands, Luxembourg and Liechtenstein, there are several foundations based on those countries that controlled the IKEA Group complex corporate structure.