Other stores were launched throughout the

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The public cannot buy IKEA shares because they are privately held. The company’s complex corporate structure is designed to eliminate the need for an initial public offering (IPO). Ingvar’s passion for entrepreneurship began at a young age when he started selling matches, pens, seeds and Christmas cards on the back of his bicycle. Here is IKEA’s timeline of growth.

1943-2000: Ingvar's father gave him a small amount of money, with which he founded the company. Furniture would be introduced at IKEA in 1948. The company's first home furnishing catalogue was published in Sweden in 1950. IKEA launched its first showroom in Älmhult in 1953.

During this time, IKEA was struggling with the high cost of furniture damage during shipping via mail order. To overcome this challenge, the company invented self-assembling flat-pack products. IKEA opened its first store from Sweden in 1863 in Norway.

In 1970, a fire caused the company huge losses, but it was a blessing in disguise as it marked employment data the beginning of a self-service area where customers could choose their favorite products, take them with them and assemble them at home.

decade and beyond before the founder finally settled on the company’s vision. In 1980, Ingvar sought an ownership structure to facilitate independence and a sustainable business perspective to give IKEA perpetuity. IKEA acquired TaskRabbit in 2017.

2020-2022: IKEA accelerated its transformation, increased sales and improved financial performance. The company also acquired Geomagical laboratories in 202. IKEA’s total sales for the 2020 financial year were $41.9 billion, with 32% of sales coming from e-commerce sales. In addition to converting 50 stores to handle online orders via click-and-delivery and click-and-collect, IKEA established a digital hub in the US to enhance its digital capabilities.