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May 24, 2015 8:18 PM ET

Household Durables

Company Overview of IKEA AB

Company Overview

IKEA AB offers home furnishings products. The company provides plants, living room furnishings, toys, frying pans, and kitchen products. It designs, develops, manufactures, and sells home furnishings. The company also offers purchasing and supply functions. In addition, it provides furniture and accessories, and bathroom 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, President, Member of Supervisory Board
Age: 43
Compensation as of Fiscal Year 2014.

IKEA AB Key Developments

Ikea to Expand in Bahrain in 2016

Ikea sets to expand in Bahrain in 2016 by opening up its first place for businesses in the Kingdom; the store will be run by Ghassan Development Company. Additionally, the new founded stores will be run the same company that runs Ikea branches in Saudi Arabia.

IKEA Opens Store in St. Louis, MO

IKEA announced the appointment of John Achillea as manager of its future store opening Fall 2015 in St. Louis, MO. The 380,000 square-foot future IKEA St. Louis store is being built on 21 acres along Interstate-64 at Vandeventer Avenue, with 1,300 parking spaces, and will open Fall 2015 in the City's Cortex Innovation District. The store will reflect the unique architectural design for which IKEA is known worldwide, and the state's large rooftop solar array, consistent with the IKEA renewable energy presence at 90% of its U.S. locations.

IKEA Plans to Open Two Stores in Belgrade

IKEA will get location and construction permits in April for a store in Belgrade. IKEA has been trying for the past four years to get construction permits for five stores in Serbia, including two in Belgrade, adding that the company's attempts failed because it could not find common ground with the respective municipalities and the necessary paperwork was not put together. A memorandum of understanding (MoU) was signed with IKEA six months ago, but only now with the changes in local regulations all conditions are finally in place to issue quickly a construction permit to the company. IKEA announced that it eventually plans to open two stores in Belgrade and one each in Nis, Novi Sad and in central Serbia.

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