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By Jack Torrance
The Telegraph
Ingvar Kamprad, the billionaire founder of flat-pack furniture retailer Ikea, has died at his home in southern Sweden following a short illness at the age of 91.
Mr Kamprad started the chain in 1943 when he was aged just 17 and it has since grown to generate revenues of more than €35bn from 412 stores in 49 countries.
Torbjörn Lööf, chief executive of Inter Ikea Group, said: “We are deeply saddened by Ingvar’s passing. We will remember his dedication and commitment to always side with the many people. To never give up, always try to become better and lead by example.”
Ikea grew by undercutting many of its rivals, keeping costs low by making customers assemble their own furniture and selling it from large warehouse stores. Mr Kamprad stepped back from running the business in 1988 but continued in an advisory role.
Jesper Brodin, chief executive of the Ikea Group, said: “His legacy will be admired for many years to come and his vision – to create a better everyday life for the many people – will continue to guide and inspire us.”
Ikea has 24 stores in the UK, which turned over £1.8bn last year.
The Telegraph
Ingvar Kamprad, the billionaire founder of flat-pack furniture retailer Ikea, has died at his home in southern Sweden following a short illness at the age of 91.
Mr Kamprad started the chain in 1943 when he was aged just 17 and it has since grown to generate revenues of more than €35bn from 412 stores in 49 countries.
Torbjörn Lööf, chief executive of Inter Ikea Group, said: “We are deeply saddened by Ingvar’s passing. We will remember his dedication and commitment to always side with the many people. To never give up, always try to become better and lead by example.”
Ikea grew by undercutting many of its rivals, keeping costs low by making customers assemble their own furniture and selling it from large warehouse stores. Mr Kamprad stepped back from running the business in 1988 but continued in an advisory role.
Jesper Brodin, chief executive of the Ikea Group, said: “His legacy will be admired for many years to come and his vision – to create a better everyday life for the many people – will continue to guide and inspire us.”
Ikea has 24 stores in the UK, which turned over £1.8bn last year.
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