Skip to main content

....

Ikea Founder, Ingvar Kamprad, is Dead

Founder, Ikea, Ingvar Kamprad is dead. He died at the age of 91 in Sweden.

The entrepreneur delved into the world of
business at an early age; selling matchbox to neighbours in Sweden. He soon found out that he could make more profit by buying them cheaply from Stockholm, and sell them at a low price.

With modest financial backing from his dad, he however began Ikea when he was 17-years-old,selling watches, Christmas decorations and office stationary which he sold from his home, but started selling furniture in 1950. The company only became popular in 1956, when it pioneered minimalist, flat back design.

In order to avoid Sweden's high tax rate, he moved to Switzerland, where he lived for decades. He however moved back to Sweden in 2013, after his wife's death.

The Ikea group now has 403 stores across every continent, employs 190,000 people worldwide and generates annual sales of 38 billion euros.

Kamprad, who was one of the most powerful men in Europe, stepped down from the board of  the holding company of Ikea. His last son, however took over as chairman.

Despite his enormous wealth, the business man is said to have lived a very simple life while alive. He reportedly wore clothes only from thrift stores, drove an ageing Volvo, and even used his supermarket loyalty card in order to save money.







 

Comments

Follow Us

                                  






Popular posts from this blog

Chioma Ikokwu aka Chioma Good Hair Shares 3 Secrets Behind the Success of the Good Hair Brand

Popular Lagos Socialite and business woman, Chioma Ikokwu aka Chioma Good Hair has built a successful business,"Good Hair" with her partner, Kika Osunde,  over the years. 
The duo who

Kayode Abbas Reveals Why You Should Set Goals Via Social Media for Your Business

Kayode Abbas is a social media expert and in this post he shares how social media is a powerful tool and how ways we can make money off it.

85% of people use social media without goals. I was consulting for a client that wanted to quit social media because he wasn't getting results. I probed and found he didn't have goals set. How can you get as much value as possible from the time and resources you put into social media ?


Good News for Nigerian Businesses!!..Britain to add Nigeria's Naira to List of Accepted Trade Currencies

Good news for Nigerian businessmen and women.....Britain just added the Naira to the list of pre approved currencies for conducting trade.

This moves makes it easy for transactions with Nigerian businesses denominated in the local currency to be conducted.

With this, the Naira becomes one of the three currencies from West Africa that can benefit for its programme of funding transactions that promote trade with Britain.

According to the British High Commissioner to Nigeria, Paul Arkwright, via a statement.........
“This is a clear indication of how much value the UK places on its relationship with Nigeria. It will provide a firm foundation for a significant increase in trade and investment between both countries." According to the the statement, the UK would provide up to 85 per cent of funding for projects containing a minimum of 20 per cent British content.
“The Naira financing will follow the same structure as someone buying in sterling, except that Nigerian firms taking out …