Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Business Leaders  >  Business Leaders Biography

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
HomeAll newsMost read newsBusiness Leaders Biography
Portrait de Ingvar Kamprad
Birthday : 03/30/1926
Place of birth : Småland - Sweden
Country of residence : Switzerland

Biography of Ingvar Kamprad 
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.
Copyright © 4-traders.com / Photo © Maxppp

Anecdotes
In 1994, IKEA is in turmoil. The press announces that Ingvar Kamprad was member of the Nordic Youth, a movement close to the Hitler Youth. The owner of IKEA admits and apologizes for what he calls a youthful mistake.
Citations
“We ought to have more women in various management positions, because women are the ones who decide almost everything in the home.”

“If there is such a thing as good leadership, it is to give a good example. I have to do so for all the Ikea employees.”


Most Read News 
09/18JOHN TYSON : Tyson Foods CEO steps down for personal reasons
RE
09/18JACK MA : Alibaba's Jack Ma says U.S.-China trade friction could last 20 years
RE
09/20JACK MA : Xinhua
RE
09/24JEAN-CHARLES NAOURI : Casino rejects merger approach that Carrefour denies making
RE
09/20NICANDRO DURANTE : British American Tobacco CEO Nicandro Durante to Retire
DJ
09/24MICHAEL DELL : sources
RE
09/21DAVID BONDERMAN : Frustrated Ryanair investors target chairman after year of strikes
RE
09/21MICHAEL O'LEARY : Ryanair's O'Leary says reluctant to commit to five more years as CEO
RE
09/19NICANDRO DURANTE : British American Tobacco CEO Durante Expected to Leave -Sky News
DJ
09/20RICHARD LI : Minneapolis prosecutors weighing evidence in JD.com CEO case
RE
More news
Advertisement
Latest news about Ingvar Kamprad 
- No news -
More news


Popular Business Leaders 
Marc Benioff Jeff Bezos Warren Buffett Tim Cook Elmar Degenhart Michael Dell Oleg Deripaska Jamie Dimon Jack Dorsey Nicandro Durante John Edwards David Einhorn Bill Gates Carlos Ghosn David Henry Heinrich Hiesinger Carl Icahn Charles Koch Ulrich Lehner Robin Li Daniel Loeb Jack Ma Sergio Marchionne Lakshmi Mittal Leslie Moonves Dennis Muilenburg Rupert Murdoch Elon Musk Peter Nicholas Indra Nooyi Michael O'leary James Packer John Paulson Thomas Rabe Sumner Redstone Alexandre Ricard Wilbur Ross Sheryl Sandberg Charles Schwab Masayoshi Son Martin Sorrell Rupert Stadler Tidjane Thiam Patrick Thomas François Villeroy De Galhau An Wang Martin Winterkorn Dieter Zetsche Mark Zuckerberg
A-Z Business Leaders