Ikea was founded in 1943 in Gothenburg, Sweden, by Ingvar Kamprad, who was 17 years old at the time. The name Ikea is actually an acronym from the initials of the name of the farm where he grew up and the name of the small town where he grew up.
The company designs and sells ready to assemble, simple furniture, kitchen cabinets, bedding, kitchen appliances, desks and chairs. Ikea is known for eco-friendly, innovative designs that make the most of space with minimalist lines. Ikea is one of the largest furniture manufacturers in the world.
The Ikea group is a complex structure of companies and consists of 381 stores in 47 countries. The company also sells almost everything found in their stores online. Ikea had $28.7 billion in sales worldwide in 2014 and employs more than 147,000 persons.