From his childhood, Ingvar Kamprad, the founder of IKEA has shown a gift for business by selling matches and Christmas decorations. Since then, the Swedish history of little matches ‘seller became billionaire has gone all around the world.
In 1943, as a reward for his success in school, his father gave him a sum of money. This money will help him to create a business called IKEA, acronym of Ingvar Kamprad, Elmtaryd (the family farm) and Agunnaryd (his native village). To develop the sales, Ingvar publishes a catalogue for mail order. In 1947, he adds furniture. In 1953, he creates the first store devoted entirely to furniture.
Ingvar Kamprad has a simple strategy: selling products at unbeatable prices, a method which meets a big success, a success that disturbs competitors.
Ingvar has no choice; he has to produce himself his furniture. He opens the first showroom that allows customers to see and test the furniture before ordering. In order to reduce costs, he has a great idea: making fabricate furniture by purchasers. This solution also allows substantial savings thanks to the flat packaging that reduces transportation costs.
The first store is created in 1965 in Stockholm, the first of a big chain which now counts more than 115 stores in 25 countries.
With a fortune estimated at $ 6 billion, Ingvar Kamprad is ranked 162nd richest man in the world, according to Forbes.
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