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IKEA “IKEA founder overtakes Gates as world's richest” By: Rachel Andersen Global Design Name: Acronym for founder Ingvar Kamprad and his boyhood home Elmtaryd, Agunnaryd. Founded: Sweden, 1943 Operations: Designs/sells low-price home furnishings that require assembly. 2004 Revenue: $15.5 billion; $1.7 billion in U.S. sales Number of Stores: 216 in 33 countries; 24 in U.S. Employees: 84,000 worldwide; 8,000 U.S. The IKEA Concept “The IKEA vision is to create a better everyday life for the many people. We make this possible by offering a wide range of well designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.” - IKEA website Ingvar Kamprad Kamprad’s personal fortune of $53 billion versus Bill Gates’ fortune of $47 billion. Modest lifestyle: Flies economy class Avoids wearing suits Drives his old Volvo when not using public transportation Has kept ownership of the company in his family. Why So Cheap? Purchasing as inexpensively as possible and flat-packing furniture for customers to put together themselves. Allowsthem to reduce costs and use of packaging by not shipping air—the volume of a bookcase, for example, is considerably less if it is shipped unassembled rather than assembled. IKEA Store Openings London, UK: February 2005 Paris, France: February 2005 Brussels, Belgium: March 2005 Istanbul, Turkey: May 2005 Rome, Italy: June 2005 Atlanta, USA: June 2005 Dallas, USA: August 2005 Hsing Chuang, Taiwan: November 2005 Boston, USA: November 2005 IKEA Online Check out the website IKEA Hysteria Saudi Arabia IKEA announced that they were offering credit vouchers to the first 250 clients More than 8,000 people showed up before the store opened. Stampede killed three and injured 17 people. Questions? ???????????????????????????????????
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