IKEA is a multinational conglomerate founded in 1943 by Ingvar Kamprad in Sweden. The company designs and sells ready-to-assemble furniture, homeware, and various related services. The name ‘IKEA’ is an acronym derived from Kamprad’s initials, Elmtaryd (the farm where he grew up), and Agunnaryd (the nearby village). Since its inception, IKEA has grown to become the world’s largest furniture retailer, operating 483 stores worldwide as of 2025. The company’s mission is to offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford them. This vision is encapsulated in their tagline: ‘To create a better everyday life for the many people.’

IKEA’s product range includes ready-to-assemble furniture, homeware, and food products. The company is known for its flat-pack furniture, which reduces shipping costs and allows customers to transport items more easily. In addition to furniture, IKEA operates in the food industry, with in-store restaurants offering Swedish specialties like meatballs and salmon. The company has also ventured into other areas, such as providing integrated HDTV and entertainment systems through a joint venture with TCL.

Sustainability is a core focus for IKEA. The company has committed to becoming climate-positive by 2030, aiming to reduce its carbon footprint and promote sustainable practices. Initiatives include sourcing wood responsibly, expanding the use of recycled materials, and implementing buyback and resell services. Despite challenges like supply chain disruptions and geopolitical tensions, IKEA remains dedicated to its sustainability goals and continues to innovate in this area.

In recent years, IKEA has adapted to changing consumer behaviors by discontinuing its traditional print catalog and enhancing its digital presence. The company has also explored the use of artificial intelligence to optimize operations, while being cautious about associated risks. These efforts reflect IKEA’s commitment to innovation and continuous improvement in serving its global customer base.