November 23, 2014 5:24 PM 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 to Invest €50 Million in Furniture Plant Near Veliky Novgorod

IKEA announced that the company is planning to invest over €50 million in the construction of a furniture factory near Veliky Novgorod. The project is planned to be completed by 2017 at a location acquired from Polish company Pfleiderer Grajewo S.A. in early 2013. A particle board plant is currently in operation at the site. In February, IKEA announced that it planned to build an oversized furniture plant near Veliky Novgorod. The details of the project were not released at the time.

IKEA Considers Opening Stores in Latvia, Estonia in Future

IKEA is considering an idea to open stores also in Latvia and Estonia. IKEA opened its first Baltic store in Vilnius in August 2013.

IKEA Announces Sales Results for the Financial Year 2014

IKEA announced sales results for the financial year 2013-14. The company reported sales in the Czech Republic grow by 4.6% to CZK 7.7 billion in the financial year 2013/2014.

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