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April 27, 2015 4:04 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


Founded in 1943


46 47 68 10 00


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 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.

IKEA AB to Construct a New, Larger Store in Burbank, CA

IKEA began demolishing 19 buildings totaling 455,000 square-feet on the site where it will construct a new, larger store in Burbank, CA, less than one mile away from the company’s oldest store in the Western United States. Razing the buildings will make room for construction of the planned new Burbank store. Until the new, roomier store opens on the new site, customers can continue to shop at the existing IKEA Burbank. The current 242,000-square-foot IKEA Burbank, the first IKEA store in California and sixth in the U.S., opened November 1990 on 6.4 acres along I-5 at San Fernando Boulevard. The future 456,000-square-foot store and its more than 1,700 convenient parking spaces will be built on 22 acres west of San Fernando Boulevard and south of Providencia Avenue, providing customers with improved accessibility. IKEA has contracted with VCC Construction to build the store and plans reflect the same unique architectural design for which IKEA stores are known worldwide. Just as the existing Burbank store has a solar photovoltaic array atop its roof, IKEA hopes to install a similar solar energy system as part of the relocated store. Actual store construction likely will commence this fall after completion of the demolition and site preparation. Additionally, reflecting the company’s commitment to sustainability, IKEA is working to recycle, repurpose or salvage as much of the existing buildings’ equipment, materials, and parts as possible. The new, more spacious IKEA Burbank will feature a larger quantity of the nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a larger restaurant for serving Swedish specialties. Other family-friendly features include a ‘Children’s IKEA’ area in the showroom, baby-care rooms, preferred parking and play areas throughout the store.

IKEA Launches Qi Wireless Charging Functionality

IKEA announced a product launch of Qi-powered bedside tables, lamps and desks that eliminates cable mess and makes it easier to stay connected with always-charged mobile devices. IKEA said the wireless charging home furnishings will be available in Europe and North America this April, followed by a global rollout. The announcement girds support for Qi.

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