Profile: ikea

IKEA is the world’s most successful mass-market retailer, selling Scandinavian-style home
furnishings and other house goods in 230 stores in 33 countries and hosting 410 million
shoppers per year.  An acronym for founder Ingvar Kamprad and his boyhood home of
Elmtaryd, Agunnaryd, IKEA began operating in Sweden in 1943 and continues its original
ethos based upon cost obsession fused with design culture. No design, no matter how
inspired, finds its way into the catalogue if it cannot be made affordable. With an aim of
lowering prices across its entire offering by an average of 2% to 3% each year, its signature
feature is the flat packed product that customers assemble at home, thus reducing
transportation costs. Yet, unlike some peers, IKEA has sustainability at heart and, through an
internal mantra of ‘low price but not at any price’ is a leading example of sustainable
innovation and business growth.The company designs its own furniture, which is made by
about 1,500 suppliers in more than 50 countries. It also sells online and by mail order with
the print run for the 2006 catalogue hitting 160 million - more than the Bible, so IKEA
claims. Finding the right manufacturer for the right product is a key component of the
company’s success. It once contracted with ski makers - experts in bent wood - to
manufacture its Poang armchairs, and has tapped makers of supermarket carts to turn out
durable sofas. Simplicity, a tenet of Scandinavian design, also helps keep costs down. For
example, the 50 cents Trofé mug comes only in blue and white - the least expensive
pigments.

http://fp05-527.web.dircon.net/ikea_company_profile.html

Aims and Objectives of Ikea

- Too produce cheap and affordable product for the public/customers.
- Better life for those who cant afford expensive products.
- Ensure the customer finds what they are looking for in store.
- Low prices.