Ike The World 's Largest Furniture Retailer Essay

949 Words Nov 26th, 2016 4 Pages
IKEA, a Swedish company with its headquarters in Leiden, was founded in 1943 by Ingvar Feodor Kamprad. It is hugely recognized for its Scandinavian style designs and has grown tremendously over the past years thus becoming the world’s largest furniture retailer. The company designs contemporary style models for its appliances and furniture and it emphasizes its affinity towards eco-friendly meekness. Additionally, the corporation is known to concentrate and develop its cost-effective, operational structure and continuous performance and product evaluation and innovation techniques.
As of 2016, IKEA owns and operates 389 stores in 48 countries with a whopping number of 12,000 products approximately. The current President and CEO of the IKEA Group from September 1, 2013 is Peter Agnefjäll. As of May 2016, IKEA has been ranked 46 in the World’s most valuable brands, 62 in America’s best employers and 194 in Canada’s best employers. Its brand value is $11.9Billion and brand revenue is $36.3Billion with total employees of 15,500.
Some of the competitors of IKEA are Walmart, Target, Amazon, Tesco, Costco, Home Depot, Lowe’s, Ashley Furniture and American Furniture Warehouse.
IKEA’s Vision:
IKEA’s motto is ‘To create a better everyday life for the many people’. It strives to present a broad assortment of elegant, efficient and economical home furnishing products that many people could afford to buy. It also encourages its employees to grow both in their personal and professional…

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