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Ikea founder Ingvar Kamprad dies

Ikea founder Ingvar Kamprad dies

"The founder of IKEA and Ikano, and one of the greatest entrepreneurs of the 20th century, Ingvar Kamprad, has peacefully passed away, at his home in Småland, Sweden, on the 27th of January", the statement read.

The billionaire, who was born in 1926 founded Ikea at the age of 17.

"Since its founding in 1943, the company has transformed the way we think about how we shop for furniture (out: catalogues, in: mazelike warehouses), how we put it together (ourselves) and how it looks (sleek, not stodgy.) With its clean lines and practical pieces, Ikea has outfitted millions of college apartments and brought a Scandinavian aesthetic into everyday homes", writes Abha Bhattarai, also for the Washington Post.

The idea came to him as he watched an employee taking the legs off a table to fit it into a customer's vehicle and realised that saving space meant saving money.

A customer signs a book of condolences at the entrance of an IKEA store in Stockholm.

He left the country in 1976 for Switzerland in protest of his homeland's crippling taxes - the highest in the world at the time.

Michigan State athletic director Mark Hollis announces retirement
Comfort, compassion and understanding for the survivors and our community; togetherness, time and love for my family". In Washington, U.S. senators from both parties are calling for creation of a select committee to investigate the U.S.

Sweden was neutral in World War II, and its Nazi party remained active after 1945.

Kamprad formed the company's name from his own initials and the first letters of the family farm, Elmtaryd, and the parish where it's located, Agunnaryd. 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". Backed with modest financial support from his father, Kamprad began selling pens, picture frames, typewriters and other goods, delivering orders on his bicycle.

Ingvar Kamprad was at a trade fair in Italy in the 1940s when he had an idea.

Ikea's self-assembly model - which would cut transport and storage costs - was conceived in 1956 after an employee suggested table legs be removed during freight so that the package would fit into a auto. In 1953, the first IKEA showroom opened its doors to the public in Almhult; this was converted into a store in 1958. It was the start of what became IKEA, now with 403 stores across the globe, 190,000 employees and $47 billion in annual sales.

He was known for his devotion to frugality.

"We have Småland in the blood, and we know what a krona is - even though it is not as much as it was when we bought candy and went to elementary school", he said, referring to the Swedish currency. This was part of moves to hand responsibilities over to one of his sons.

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