Ikea
Overview: IKEA
The most successful retailer for mass market in the world is known to be IKEA which sells Scandinavian style home furnishings and other house goods in 301 stores in 41 countries. IKEA hosted 522 million shoppers last year. IKEA is a short word which stands for Ingvar the first name of the owner, Kamprad the last name of the owner, Elmtaryd the name of the farm where Ingvar grew up in, and Agunnaryd the name of the village near to Ingvar’s childhood home. IKEA was founded in 1943 when Ingvar’s father gave him money for his high grades in school, Ignvar was 17 years old back then. Ignvar started selling products to his customer by going to their houses and selling pens, wallets, picture frames, table runners, watches, jewelry and nylon stockings. In 1945, IKEA was advertised in the local newspaper for the first time and he developed a catalog for his products. In 1948 furniture was introduced to IKEA and within five years the first IKEA store opened in Sweden where the customers were able to see and touch the furniture of IKEA for the first time before ordering and purchasing them. IKEA started designing their own furniture in 1956 after competitors were pressuring suppliers to boycott IKEA and stop supplying them. This is made by approximately 1,500 suppliers located in more than 50 countries across the world. The idea of flat packaging came when an employee in Ikea disassembled the legs of a table to be able to fit it in the car to transport it. This was also done so the table doesn’t get damaged while transported. By 1970, IKEA has expanded and opened stores in different parts in the world, adding to them the IKEA restaurant. In 2000, IKEA initiated a project in India against child labor in cooperation with the UNICEF where more than 80,000 children were provided with education rather than being pulled into child labor. In that same year, IKEA’s customers were given the option to shop online. By 2006 IKEA has opened more than 200 stores around the
The most successful retailer for mass market in the world is known to be IKEA which sells Scandinavian style home furnishings and other house goods in 301 stores in 41 countries. IKEA hosted 522 million shoppers last year. IKEA is a short word which stands for Ingvar the first name of the owner, Kamprad the last name of the owner, Elmtaryd the name of the farm where Ingvar grew up in, and Agunnaryd the name of the village near to Ingvar’s childhood home. IKEA was founded in 1943 when Ingvar’s father gave him money for his high grades in school, Ignvar was 17 years old back then. Ignvar started selling products to his customer by going to their houses and selling pens, wallets, picture frames, table runners, watches, jewelry and nylon stockings. In 1945, IKEA was advertised in the local newspaper for the first time and he developed a catalog for his products. In 1948 furniture was introduced to IKEA and within five years the first IKEA store opened in Sweden where the customers were able to see and touch the furniture of IKEA for the first time before ordering and purchasing them. IKEA started designing their own furniture in 1956 after competitors were pressuring suppliers to boycott IKEA and stop supplying them. This is made by approximately 1,500 suppliers located in more than 50 countries across the world. The idea of flat packaging came when an employee in Ikea disassembled the legs of a table to be able to fit it in the car to transport it. This was also done so the table doesn’t get damaged while transported. By 1970, IKEA has expanded and opened stores in different parts in the world, adding to them the IKEA restaurant. In 2000, IKEA initiated a project in India against child labor in cooperation with the UNICEF where more than 80,000 children were provided with education rather than being pulled into child labor. In that same year, IKEA’s customers were given the option to shop online. By 2006 IKEA has opened more than 200 stores around the