IKEA is the Swedish company founded in 1943 that is known worldwide for flat-pack furniture.
Ingvar Kamprad started IKEA in Älmhult, Sweden, when he was 17. The name combines his initials with the initials of Elmtaryd, the family farm, and Agunnaryd, his home parish. IKEA initially sold small household goods before concentrating on furniture.
The company helped popularize self-assembly furniture, in which products are packed compactly and customers assemble them at home. This model reduced transport and storage costs. IKEA is sometimes described as a Swedish brand with a Dutch corporate structure, because its modern ownership and management arrangements are based in the Netherlands.