The Swedish home furnishing retailer IKEA’s launched its first store in India in Hyderabad. The store opened on August 9 and has always been crowded ever since then. The 4,00,000-sq-ft store which is located at HITEC City in Cyberabad has now become one of the major landmarks in the city. Here are some of the amazing facts about IKEA:
IKEA is an acronym for the founder (Ingvar Kamprad)’s initials followed by the name of the family farm where he was born, Elmtaryd, and the nearby village Agunnaryd. For the uninitiated, Ingvar Kamprad was dyslexic. So, he thought that naming his furniture with practical names would be easier for him to remember. Kamprad who is a Swedish man has named many of the products after Swedish words and places.
For example, he named the Bedroom Furniture as ‘Hemnes’ (a town in Norway), Office Furniture as ‘Liatorp’, Storage Furniture as ‘Kallax’. Some also claim that it is also a business technique and is a strategy to grab the attention of the customers. The Swedish giant also has a kids’ department ‘Duktig’ which means good behavior and brilliant.
IKEA began issuing catalogs in 1951, but the company didn’t have a physical store until 1958. The first IKEA opened its first store in the small village of Älmhult, Sweden. Now, the company is known for various types of appliances and furniture, and its interior design work with an eco-friendly simplicity.
There are approximately 433 IKEA stores now operating in 52 countries. The IKEA website contains about 12,000 products and the company is responsible for approximately 1% of world wood consumption, making it one of the largest users of wood in the entire retail sector.