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July 31, 2015 10:26 AM 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: 44
Compensation as of Fiscal Year 2015.

IKEA AB Key Developments

IKEA Updates Construction Progresses on Las Vegas Store

IKEA announced that steel framing has progressed far enough that installation of the iconic blue composite panels has begun on its future Las Vegas store. Installing the blue panels is a construction milestone that ensures the store will open Summer 2016, and it reflects the unique architectural design for which IKEA stores are known worldwide. The 351,000 square-foot future IKEA Las Vegas store, and 1,300 parking spaces, is being built on 26 acres along the northern side of the 215 Beltway at Durango Drive, near Sunset Road, and will open Summer 2016. Until then, customers can shop at the closest IKEA stores: Covina, CA; Tempe, AZ, or Draper, UT; or online at IKEA-USA.com IKEA Las Vegas will feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children's play area, and a 450-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes. Other family-friendly features include a Children's IKEA area in the Showroom, baby care rooms, play areas throughout the store and preferred parking. IKEA also will evaluate potential on-site power generation to complement its current U.S. goal of a renewable energy presence at nearly 90% of its U.S. locations. IKEA Las Vegas will provide annual sales and property tax revenue for local governments and schools. And in addition to 500 jobs expected during construction 300 coworkers will join the IKEA family when the store opens. Opportunities will be available in the fall for candidates interested in working at this employer of choice in home furnishings sales, interior decoration, customer service, safety and security, cashiers, maintenance, goods flow, receiving, warehouse and stock replenishment. Also, setting itself apart, IKEA Las Vegas will offer nearly 60 food service opportunities in its Restaurant, Swedish Food Market, Caf Bistro and coworker cafeteria.

IKEA to Open Small Stores and Sell Products Online

IKEA plans to more than double its presence in Australia by opening small urban stores and selling products online for the first time. The company has unveiled ambitious plans to lift store numbers from eight to about 22 over the next few years - building another three or four 30,000 square metre mega-stores and as many as 12 small-format stores less than one-third of their size. The small-format stores, which are currently being tested in markets such as Spain, Germany, the United Kingdom and Tasmania, would enable consumers to buy top-selling products such as Billy bookcases and Klippan sofas in-store and collect products ordered online from a dedicated Australian e-commerce site. The company also plans to build two distribution centres (DCs), including a 100,000 pallet multi-functional logistics centre, which would allow the company to increase the number of products stocked in Australia from 1,300 to almost 9,000, slashing the time it takes to ship orders to customers.

Ikea to Open its St. Louis Store on September 30, 2015

Ikea will open its St. Louis store on Sept. 30, 2015. The store will hire about 300 new workers by the opening, and the retailer said those interested can still go online at ikea-usa.com or submit applications at St. Louis Agency on Training and Employment office at 1520 Market Street, 3rd Floor.

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