You are here: Home » International » News » Others
Business Standard

Swedish furniture empire Ikea's founder Ingvar Kamprad dies at 91

Kamprad founded IKEA in 1943 when he was just 17, but didn't hit gold until 1956, when the company pioneered flat-pack furniture.

Reuters  |  STOCKHOLM 

Billionaire IKEA founder Ingvar Kamprad has died aged 91, the Swedish company said on Sunday, with the furniture empire he launched more than half a century ago familiar around the globe. Kamprad founded IKEA in 1943 when he was just 17, but didn't hit gold until 1956, when the company pioneered flat-pack furniture. He got the idea as he watched an employee taking the legs off a table to fit it into a customer's car and realised that saving space meant saving money. The retailer is now heading for 50 billion euros ($62 billion) in annual revenues. "One of the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Sun, January 28 2018. 16:45 IST
RECOMMENDED FOR YOU