When was 'IKEA' founded?
IKEA is a European multinational group that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other useful goods and occasionally home services.
Founded in Sweden in 1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008. According to the Bloomberg Billionaires Index, as of January 2018, Kamprad was the eighth richest person in the world, with an estimated net worth of US$58.7 billion.
The company's name is an acronym that consists of the founder's initials (Ingvar Kamprad) plus those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd (his hometown in Småland, southern Sweden).
Ingvar Kamprad initially founded IKEA in 1943 as a mostly mail-order sales business, but began to sell furniture five years later. The first store was opened in Älmhult, Småland, in 1958, under the name Möbel-IKÉA (Möbel means "furniture" in Swedish).
The first stores outside Sweden were opened in Norway (1963) and Denmark (1969). The stores spread to other parts of Europe in the 1970s, with the first store outside Scandinavia opening in Switzerland (1973), followed by West Germany (1974).