Ingvar Kamprad, creator of the world's largest furniture retailer IKEA, has passed away.
The home furnishings company issued an official statement on the passing of their founder, stating “The founder of IKEA and Ikano, and one of the greatest entrepreneurs of the 20th century, Ingvar Kamprad, has peacefully passed away, at his home in Småland, Sweden, on the 27th of January. Surrounded by his loved ones, he died at the age of 91, following a short illness.”
The story of how Kamprad founded his furniture empire at just 17-years-old is an inspiring one. In 1943, the designer took a small allowance his father had given him to make replicas of his uncle Ernst's kitchen table. He named his business IKEA after his initials (I.K.) and Elmtaryd - the farm where he was born in the nearby village of Agunnaryd. After achieving success in the mail order sales business, Kamprad opened his Möbel-IKÉA store in Älmhult, Småland, in 1958. From there, he continued expanding his brick and mortar locations globally throughout the '70s and '80s. Ikea has since become one of the biggest retailers in the world with more than 300 stores in 28 countries. Kamprad is known for revolutionizing flat-pack furniture—a design that came to mind as he watched an employee removing the legs off a table to fit it into a customer's car. Selling furniture sets in pieces and having customers come pick up their items saved storage space and costs.
Despite the fact that he was once named one of the world's wealthiest self-made billionaires, Kamprad took pride in being frugal. He famously drove a 1993 Volvo and wore mostly secondhand clothing. “I don’t think I’m wearing anything that wasn’t bought at a flea market. It means that I want to set a good example,” he reportedly said in a Swedish documentary. “It’s in the nature of Smaland to be thrifty,”
”We are mourning the loss of our founder and dear friend,” Jesper Brodin, CEO and President of the IKEA Group, said in the company's statement. “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.”
Torbjörn Lööf CEO and President of Inter IKEA Group added, “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."
