Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Ingvar Kamprad
Investors and Entrepreneurs

Ingvar Kamprad: biography of the founder of the famous IKEA store chain

06.04.2021
2 min read

Ingvar Kamprad: biography of a famous businessman

Ingvar Kamprad is the founder of IKEA, which is popular around the world. The condition of the businessman is estimated at more than 42.9 billion dollars. Ingvar Kamprad himself and the biography of the businessman are interesting.
The billionaire was born in 1926, and from a small age he had a talent for entrepreneurship. When he was 5 years old, he was selling matches that his aunt brought him from Stockholm, then he was selling seeds, stationery and other small things. The boy did not spend his earned money but saved it for start-up capital. Back in his youth, Ingvar started looking for an idea for business and stopped at furniture for a reason. At that time, it was expensive, and as a result, people either saved money for a long time to buy a chest of drawers and a sofa, or made it with their own hands. Kamprad decided to open a store with affordable furniture, and at the age of 17, he founded IKEA at the age of 17, for the capital he raised as a child and the money he received as a gift from his parents for his good education.
Initially, Ingvar sold decor and various small things for home, and over time all this grew into an international network, which includes more than 300 stores in 40 countries. IKEA cooperates with 1300 suppliers, owns 30 furniture factories and employs 150 thousand people.
The name of the company is an acronym that consists of the first letters of the businessman’s name, the name of the farm of his family and the village where Ingvar grew up.

Ingvar Kamprad

At the beginning of its activity, IKEA experienced difficult times. For the development of the company there was not enough funding and fresh ideas to attract more customers. Kamprad was helped by his intuition and incredible economy to cope with the difficulties. To keep prices in his stores lower than those of his competitors, Ingvar worked with small producers who depended on his purchases and were unable to dictate their value. In addition, to make the goods even cheaper, it helped to purchase them in disassembled condition, and to collect furniture after the company’s warehouse. Such measures gave their result and IKEA began to develop rapidly, which was not to the liking of competitors. Kamprad was boycotted and some suppliers refused to work with him. Therefore, the businessman had to look for partners in other countries, and Poland was ideally suited for it. Here, the labor cost was less than in Sweden, and the quality of products was not inferior to local ones.
Now IKEA is known all over the world and takes the leading positions in its segment.

Tags: Investors and Entrepreneurs
0
Previous Post Biopharmaceutical Corporation Biogen Inc: scope of activity and developments Next Post The Chinese government can expect a financial trap

You Might Also Like

Hetty Green-2
Investors and Entrepreneurs
Hetty Greene: the world’s most miserly woman
18.06.2023
Paul Tudor Jones
Investors and Entrepreneurs
Paul Tudor Jones: A path to becoming a founder of Tudor Investment Corporation
17.12.2020
Lillian Vernon
Investors and Entrepreneurs
How Lillian Vernon managed to create an empire by relying on her intuition
14.08.2021
Sam Zell
Investors and Entrepreneurs
Sam Zell: a successful investor in the US real estate market
23.05.2024
Marilyn Holt-Smith
Investors and Entrepreneurs
Marilyn Holt-Smith: the story of a talented financial analyst
26.05.2025
Stanley Druckenmiller
Investors and Entrepreneurs
Stanley Druckenmiller: a prominent American investor
12.10.2023

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics