July 22, 2014 6:42 AM ET

Household Durables

Company Overview of IKEA AB

Company Overview

IKEA AB offers home furnishings products. It provides plants, living room furnishings, toys, frying pans, and kitchen products. It designs, develops, manufactures, and sale home furnishings. It offers purchasing and supply functions. In addition, the company provides furniture and accessories, and bathrooms and kitchen products through retail stores. The company was founded in 1943 and is based in Almhult, Sweden. It also has operations in the United States. IKEA AB operates as a subsidiary of INGKA Holding B.V.

Ikeagatan 1

Almhult,  343 36

Sweden

Founded in 1943

Phone:

46 47 68 10 00

Fax:

46 47 61 51 77

Key Executives for IKEA AB

Chief Executive Officer
Age: 43
Compensation as of Fiscal Year 2014.

IKEA AB Key Developments

Ikea Plans to Open its First Store in Nevada in the Summer of 2016

Ikea has announced plans to open its first store in Nevada in the summer of 2016. Officials with the Swedish retailer said that they're proposing a 351,000-square-foot store in the southwest part of Las Vegas, at Sunset Road and Durango Drive near the 215 Beltway. The project will create 350 construction jobs and another 300 full and part time jobs once it opens. The project still needs approval from a town board in August and the Clark County Commission in September.

IKEA Completes Expansion of Store in Stoughton, MA

IKEA completed the expansion of its Boston-area store in Stoughton, MA. As a result, IKEA Stoughton, which opened November 2005 as 357,000 square feet in size, now has grown 58,575 SF to the new size of 415,575 SF, allowing the store to house larger quantities and selections of home furnishings, and to handle greater volumes of home deliveries.

IKEA Completes South Florida's Solar Installation Atop Future Miami-Dade Store Opening This Summer in Sweetwater, FL

IKEA announced it had completed the installation of South Florida's solar array, which will be plugged-in officially atop the future Miami-Dade IKEA store opening this summer in Sweetwater, FL. Combined with rooftop arrays in Orlando, Tampa and Sunrise, this fourth solar project will keep IKEA as the non-utility solar owner. It had completed the installation of South Florida's solar array. The 178,000-square-foot solar array consists of a 1,178-kW system, built with 4,620 panels, and will produce approximately 1,738,876 kWh of electricity annually for the store, the equivalent of reducing 1,227 tons of carbon dioxide (CO(2)) -- equal to the emissions of 256 cars or providing electricity for 169 homes yearly. For the development, design and installation of the Miami-Dade store's customized solar power system, IKEA contracted with REC Solar, a national leader in solar electric system design and installation with more than 350 systems built across the U.S. This installation will represent the 40(th) solar project for IKEA in the U.S, contributing to the IKEA solar presence atop nearly 90% of its U.S. locations, and a total generation of 38 MW. IKEA owns and operates each of its solar PV energy systems atop its buildings -- as opposed to a solar lease or PPA (power purchase agreement) -- and globally has allocated $1.8 billion to invest in renewable energy through 2015. This investment reinforces the long-term commitment of IKEA to sustainability and confidence in photovoltaic (PV) technology. Consistent with the company's goal of being energy independent by 2020, IKEA has installed more than 550,000 solar panels on buildings across the world and owns/operates approximately 157 wind turbines in Europe and Canada, with 49 more being built in the U.S. The 416,000 square-foot future IKEA Miami, with 1,500 parking spaces, is being built on 14.6 acres adjacent to the Dolphin Mall, at the intersection of the Dolphin Expressway (SR 836) and Florida's Turnpike, in the City of Sweetwater. Until IKEA Miami opens as the 2(nd) IKEA store in South Florida and fourth in the state, customers can shop at Broward County's IKEA Sunrise.

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