The founder of IKEA, Ingvar Kamprad, has died, aged 91

by Antonio Miles January 29, 2018, 9:04
The founder of IKEA, Ingvar Kamprad, has died, aged 91

A statement from Ikea said that Kamprad had "peacefully passed away at his home".

Kamprad died on Saturday at his home in Smaland, in southern Sweden, the chain's Swedish unit, IKEA Sverige, said on Twitter on Sunday.

Kamprad founded his revolutionary furniture company in 1943, at the age of 17 according to a report byThe New York Times.

He moved to Switzerland from Sweden in the 1970s, where he would avoid high Swedish taxes until he returned in 2011.

The founder of Swedish furniture firm IKEA Ingvar Kamprad has died at the age of 91.

And the Consortium of Investigative Journalists in 2014 cited leaked tax files from Luxembourg when it identified Ikea as one of the giant multinationals fingered for corporate tax avoidance by shuffling money to tax havens.

Founder of Swedish furniture firm Ikea Ingvar Kamprad dead aged 91
IKEA Founder Dead at the Age of 91

The group insists it complies with national and worldwide tax regulations.

Apart from financial success - Ikea had global revenue of 36.3 billion euros ($45 billion) in 2017 - the company Kamprad led until 1986 regularly featured in lists of best employers for offering appealing perks and attractive working conditions. The innovator had the brainwave to create flat-pack furniture when he watched one of his staff remove the legs off a table to fit it in a customer's vehicle. "When he was five years old, Ingvar Kamprad began selling matches to his neighbors, and at seven he expanded his bike-mounted sales area". She served on several nonprofit boards for organizations affiliated with Ikea, and was credited by Kamprad with sacrificing long stretches of their marriage so that he could focus on the company.

His image was tainted in later life by revelations that, during the second World War, he had joined the successor organisation to the Swedish National Socialist Workers' Party in occupied Sweden. Kamprad said he stopped attending its meetings in 1948, later attributing his involvement to the "folly of youth", and calling it "the greatest mistake of my life". The first exhibition of furniture was opened in Ă„lmhult (Sweden) in 1953 and first store, in 1958.

Almost two decades later, a book by Swedish journalist Elisabeth Asbrink extended the claims, linking Kamprad to a group that succeeded the country's swastika-flying National Socialist Workers Party.

Kamprad was known for his frugality, buying his clothes at thrift shops, driving an aging Volvo and bringing his lunch to work.

IKEA, a name formed from Karmprad's initials and the Swedish village where he was raised, used a novel flat-pack design to build a robust mail-order business.

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