IKEA is a Swedish furniture and home goods retailer founded in 1943. The company has grown to become a global brand with a strong market presence and a diverse product portfolio. IKEA's business model focuses on cost-effective, innovative solutions and understanding customer needs. Despite its strengths, the company faces challenges such as quality concerns and increasing competition. IKEA continues to expand globally and explore opportunities in online sales and new markets.
• IKEA was founded by Ingvar Kamprad in 1943 in Sweden.
• The company specializes in furniture and home decoration.
• IKEA has experienced significant global expansion, with stores worldwide increasing from 2005 to 2021.
• A SWOT analysis reveals IKEA's strengths in customer understanding and brand reputation, but also highlights weaknesses in product quality and standardization.
• Opportunities for IKEA include expansion in developing economies and online sales growth.