Ingvar Kamprad was born in Småland in southern Sweden. He was raised on ‘Elmtaryd’, a farm near the small village of Agunnaryd. Even as a young boy Ingvar knew he wanted to develop a business. At the age of five Ingvar Kamprad started selling matches to his nearby neighbours and by the time he was seven, he started selling further afield, using his bicycle. He found that he can buy matches in bulk cheaply in Stockholm and re-sell them individually at a very low price but still make a good profit. From matches he expanded to selling flower seeds, greeting cards, Christmas tree decorations, and later pencils and ball-point pens. When Ingvar Kamprad was 17, his father gave him money as a reward for succeeding in his studies. He used it to establish his own business. The name IKEA is formed from the founder’s initials (I.K.) plus the first letters of Elmtaryd (E) and Agunnaryd (A), the farm and village where he grew up. IKEA originally sold pens, wallets, picture frames, table runners, watches, jewellery and nylon stockings – meeting needs with products at reduced prices.
Quotes of Ingvar Kamprad :
1. If there is such a thing as good leadership, it is to give a good example. I have to do so for all the Ikea employees.
2. I am very proud to follow the rules of our company.
3. Our idea is to serve everybody, including people with little money.
4. We have to still develop the Ikea group. We need many billions of Swiss francs to take on China or Russia.
5. Everything we earn we need as a reserve.
6. I’m stingy and I’m proud of the reputation.
7. Ikea people do not drive flashy cars or stay at luxury hotels.
8. We ought to have more women in various management positions, because women are the ones who decide almost everything in the home.
9. I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.
10. People say I am cheap, and I don’t mind if they do.
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