Essays on Ikea

Essays on Ikea

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IKEA is a Swedish-origin Dutch-headquartered multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other goods and home services.

CEO: Jesper Brodin (Sep 1, 2017–)

Founder: Ingvar Kamprad

Founded: July 28, 1943, Älmhult, Sweden

Headquarters: Delft, Netherlands

Subsidiaries: TaskRabbit, Swedwood, Mega, IKEA Germany, MORE

Fundamentals and financials:

Market cup                         $19.5 billion
Revenue                              €4.7 billion
Employees                           225,000

Company management: Peter Agnefjäll (Chairman and CEO of INGKA Holding), Torbjörn Lööf (Chairman and CEO of the Inter IKEA Group)

Whenever you're trying to think of a well-established furniture company, chances are you're thinking of IKEA, a multinational corporation that was founded in 1943, by then 17-year-old Ingvar Kamprad. The company went through a substantial growth spurt over the years, and it's currently headquartered in Delft, Netherlands.

Their primary product – self-assembly furniture. Eco-friendly simplicity and modernist furniture designs define this company. It has garnered a considerable number of followers just for those reasons.

Let's get right into the details of note; they can be found below.

Financial Data

IKEA is technically a non-profit organization, but that doesn’t prevent it from showcasing annual revenue numbers as big as €35 billion. Cost of sales was estimated at €19 billion, making the gross profit figure a presentable €16 billion. Since this is a privately owned (or family-owned) company, no stocks are publicly traded.
Net profit of €4.2 billion the company showcased in 2016 was a 19.6% improvement over the performance showed in 2015. Total assets also increased to €54 billion.

Europe is by far the most profitable region with 69% of total sales. North and South Americas only account for 18% of sales, by comparison. On a related note, USA and Germany are tied for the number one spot of countries ranked by sales.

No IKEA furniture is ever pre-assembled and there is a practical reason for that. This is done to save shipping costs and to “not transport and store air,” as Kamprad himself puts it. This level of efficiency carries over to everything done by the company.

Marketing

Marketing reach of this business is astounding. Over 783 million people have visited retail stores and over 2.1 billion people have visited IKEA’s website.

A large bulk of company's marketing expenses (about ?) is funneled into the annual catalog. This catalog can be attributed with the majority of their success, since it not only showcases the product line but also provides suggestions, furniture placement ideas and other associated perks. It does all it needs to do. It's practical, informative and invokes a certain degree of creative thought in customers.

On top of that, products themselves have oddly specific naming conventions. Each type of merchandise gets an internal code name, and guidelines for those vary a lot: Swedish, Danish and Finnish words get used along with specific male/female names, places, etc.

Structure & Operations

Little is known about the organizational structure, save for the fact that it's quite complicated and may be difficult, yet fascinating to decipher. Both for-profit and non-profit departments have a say in the way corporation conducts business as a whole and a recent restructuring change managed to remove one management layer.

IKEA PS 2017 LIVE IT collection (YouTube)


The number of employees (or "co-workers," rather) is 183 thousand people, who are working in 400 stores spread across 49 countries all over the world. IKEA Group manages storefronts under franchising agreements and directly oversees 340 stores in 29 countries.

Analysis

Just like any other major business, an enormous amount of risks needs to be considered before venturing out to other markets and locations. Since IKEA's expansion is limited in countries which are already saturated with IKEA stores, the company is reliant on those developing countries with a substantial number of young adults in search of household furniture. Discover strengths, weakness, opportunities, and threats with this list of associated reading.

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We've found 57 essays on Ikea
IKEA: Business Details, Marketing Strategies And Analysis

Company information: Company name     IKEA Founded                 1944 Founder(s)               Ingvar Kamprad Sector                      Retail Location            …

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Green Supply Chain Management (GSCM)

Chapter 1 Introduction: A business enterprise’s primary aim is to generate revenue and sustain continuous profitability. This primary purpose for business existence is fulfilled by a wide range of business process and operations, such as: sales; customer service; manufacturing; transportation; purchasing; research and development; strategy …

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Marketing and Ikea

Case Study IKEA: Expanding through franchising to the South American market? Introduction This report is made by four, fourth year IBMS students for a marketing course. This report is based on a case from the book Global Marketing, by Svend Hollensen. The basis of this …

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Customer and Ikea

An overview IKEA, founded in Sweden in 1943, is the World’s largest home furnishings retail chain. It achieved international expansion in three major phases and now operates large warehouse showrooms in Sweden, Norway, Denmark, Holland, France, Belgium, Germany, Switzerland, Austria, Canada, the United States, Saudi …

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IKEA Marketing Strategy: a Brief Overview

Introduction IKEA is an international company that designs home self assemble products such as; desks, beds, chairs, wardrobes, appliances and accessories. The Swedish company was originally founded in 1943 by Ingvar Kamprad who is widely known for his clean-lined image (The Telegraph, 2012, p. 1) …

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Developing a Sustainable Procurement Policy

Introduction The rising demand for greener, more environmentally friendly products and services has paved the way for sustainable procurement. In the field of operations management, ‘sustainable procurement has emerged as a way green the purchasing and supply process’ (Walker et al 2009, p.348). Sustainable procurement …

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Ikea Children Labour

KEA’s Global Sourcing Challenge: Indian Rugs and Child Labor (A) In May 1995, Marianne Barner faced a tough decision. After just two years with IKEA, the world’s largest furniture retailer, and less than a year into her job as business area manager for carpets, she …

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Essay Summary of Ikea Invades America

IKEA has definitely made great strides since coming to America in 1985. The case study points at many areas where idea has made huge impacts on the American furniture retail industry. Looking at Exhibit 1 you can see steady growth in sales, Exhibit 3 shows …

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IKEA: Furniture for the Masses; Strategies for the Future

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IKEA vs H&M

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IKEA Case analysis; Hill ; Jones

Executive Summary This analysis detailed the history of IKEA Company since its establishment by Ingvar Kamprad in 1943 to the world wide expansion and future it faced in 2008. IKEA was striving for future expansion and growth in sales, but was faced with what to …

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Ikea in Brazil

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Strategic Marketing Plan for IKEA

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Price Simplifying Vs. Proposition Simplifying: Understanding Your Options

The following excerpt is from Richard Koch and Greg Lockwood’s book . Buy it now from  | | The two simplifying strategies — price simplifying and proposition simplifying — are very different in what you have to do to make them happen, in what your objectives are and in …

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3 Ways to Redesign Your Product and Spark a Price Revolution

The following excerpt is from Richard Koch and Greg Lockwood’s book . Buy it now from  | | With price-simplifying, price is the strategy. Everything else is tactics — the means to arrive at the target price. Price-simplifying rests on the observation that if you can halve the price, your …

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Overcome the Identified Weaknesses and Threats

Performance SWOT analysis IKEA is amongst the biggest retailers of furniture in the world. It has grown rapidly since it was founded in 1943. It sells more than 10,000 furnishing products from well over 300 stores in around 40 countries. The company has in excess …

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How a Price Simplifying Epiphany Turned IKEA Into a Billion-Dollar Business

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Swot Analysis/ Foreign Market Entry: Ikea Invades America

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IKEA : Furniture Retailer To The World

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SWOT Analysis and PESTEL for Ikea Singapore

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Key Challenges Facing Brand Ikea

For the past years, Ikea’s cultural branding stands out from other competitors because it blends value into their fashionably designed furniture to ensure that modern household goods are made affordable. However, rising prices in raw material and transport cost has forced Ikea’s first price hike …

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FAQ

What is IKEA summary?
Ingvar Karmarad founded IKEA in 1953. The company started as a mail order business in Almhult, Sweden. It's today a global home furnishing brand, offering affordability, design, and comfort to customers all over the globe.
What is IKEA strategy?
IKEA’s business strategy is based upon the IKEA Concept. IKEA Concept started with the concept of offering affordable home furnishing products to all. It is achieved through a combination of function, quality design and value. Always with sustainability in view.

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