The founder of the worldwide Swedish furniture chain, IKEA, Ingvar Kamprad has died aged 91.He passed away “peacefully” at his home in Småland, Sweden, Ikea confirmed in a statement on Sunday, January 28, 2018.
The company said that Kamprad was “one of the greatest entrepreneurs of the 20th century”.
The Ikea founder had faced questions over his past links to the Nazis, which he referred to as the “greatest mistake” of his life.
His hugely successful company has become one of the biggest around the globe, with more than 20 stores in the UK alone.
The retail giant was set up by Kamprad in 1943 – when he was just 17 – selling replicas of his uncle’s kitchen table.
But he actually started the business when he was just five-years-old by selling matches.
When he turned seven he travelled further afield on his bike to sell to neighbours.
He then found he could buy matches in bulk very cheaply from Stockholm, sell them individually at a low price, and still make a good profit.
So from matches, he expanded to selling fish, Christmas tree decorations, seeds and ballpoint pens and pencils.
When Kamprad was 17, his dad gave him a cash reward for succeeding in his studies before he went on to officially start Ikea.
A few laters later he expanded his portfolio by adding furniture, resulting in it becoming the massive success it is today.
In June 2013, Kamprad stepped down and installed his youngest son Mathias Kamprad as the chairman of the Ikea holding company.
The then-87-year-old founder explained: ”I see this as a good time for me to leave the board of Inter IKEA Group.
“By that we are also taking another step in the generation shift that has been ongoing for some years.”
Kamprad was born in Kronoberg, Sweden on March 30, 1926 and leaves behind a wife and four children.
Read more at Daily Star
