"The IKEA business idea is to offer a wide range of home furnishings with good design and function at prices so low that as many people as possible will be able to afford them. And still have money left!"
We will explore IKEA in much more detail as the summer goes on, but here is a brief introduction of the company to "whet your palate":
- Founded in 1943 in Sweden by Ingvar Kamprad
- Originally sold pens, wallets, picture frames, watches, jewelry, etc.
- Introduced furniture in 1947
- Opened first international store in 1963 in Norway
- Opened first U.S. store in 1985
"At first, we weren't sure USA needed IKEA. After all, what could we bring to the country that has everything?" (foreshadowing?)
Today's stats (2006 facts and figures):
- Over 100,000 employees in 44 countries
- 237 IKEA stores in 34 countries/territories (August 2006)
- 458 million visitors worlwide to IKEA stores in 2006
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