IKEA Hyderabad A Complete tour-2022 | Travel Treat by Sudheesh | IKEA ഹൈദരാബാദ്

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IKEA is named after the initials of founder Ingvar Kamprad, Elmtaryd, the farm on which he grew up, and Agunnaryd, the nearby village.

IKEA is a Swedish multinational conglomerate based in the Netherlands that designs and sells ready-to-assemble furniture, kitchen appliances, home accessories, and various other goods and home services. Started in 1943 by Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008.The brand used by the group is derived from an acronym that consists of the founder's initials, and those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd (his hometown in Småland, southern Sweden).

In 1943, then-17-year-old Ingvar Kamprad founded IKEA as a mail-order sales business, and 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).

The group is primarily known for its modernist designs for various types of appliances and furniture, and its interior design work is often associated with simplicity. In addition, the firm is known for its attention to cost control, operational details, and continuous product development that has allowed IKEA to lower its prices by an average of two to three percent.

As of March 2021, there are 422 IKEA stores operating in 50 countries and in fiscal year 2018, €38.8 billion (US$44.6 billion) worth of IKEA goods were sold. For multiple reasons including tax avoidance, IKEA uses a complicated corporate structure. Within this structure, all IKEA stores are operated under franchise from Inter IKEA Systems B.V. which handles branding, design, manufacturing, and supply. Another part of the IKEA group, Ingka Group, operates the majority of IKEA stores as a franchisee and pays royalties to Inter IKEA Systems B.V.Some IKEA stores are also operated by independent franchisees.

By 1973, the company's expansion was so great it was straining resources. German executives accidentally opened a store in Konstanz (Germany), approximately 200 miles (320 km),from their intended location of Koblenz (Germany). Later that decade, stores opened in other parts of the world, such as Japan (1974), Australia, Canada (1975), Hong Kong (1975), Singapore and the Netherlands (1978).IKEA further expanded in the 1980s, opening stores in countries such as France and Spain (1981), Belgium (1984),the United States (1985), the United Kingdom (1987),and Italy (1989).Germany, with 53 stores, is IKEA's biggest market, followed by the United States, with 51 stores.

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