Ingvar Kamprad founded IKEA in Sweden in 1943 when he was 17 years old.
Kamprad started the business in Älmhult, in the province of Småland. The name IKEA combines his initials with the initials of Elmtaryd, the family farm where he grew up, and Agunnaryd, his parish in Småland. The company initially sold small goods such as pens, wallets, and picture frames rather than furniture.
IKEA entered the furniture business in 1948 and developed the flat-pack, self-assembly model that became central to its retail identity. The first IKEA store opened in Älmhult in 1958. People sometimes assume the name is Swedish as a whole, but parts of it refer specifically to Kamprad and places connected with his childhood.