IKEA founder maintained a frugality in life and work
STOCKHOLM — Ingvar Kamprad, the IKEA founder who turned a small-scale mail order business into a global furniture empire, has died at 91, the company said Sunday.
IKEA Sverige, the chain’s Swedish unit, said on Twitter that Kamprad died Saturday at his home in Smaland, southern Sweden. Later it said he died peacefully following a short illness.
“He will be much missed and warmly remembered by his family and IKEA staff all around the world,” the company said.
Jesper Brodin, CEO and president of the IKEA Group, said Kamprad’s “legacy will be admired for many years to come and his vision — to create a better everyday life for many people — will continue to guide and inspire us.”
Kamprad’s life story is intimately linked to the company he founded at age 17 on the family farm.
His work ethic, frugality and down-to-earth style remain at the core of its corporate identity today. But his missteps in life, including early flirtations with Nazism, never rubbed off on IKEA, one of the world’s most recognizable brands.
Kamprad formed the company’s name from his own initials and the first letters of the family farm, Elmtaryd, and the parish of Agunnaryd where it is located. It’s in the heart of Smaland, a forested province whose people are known in Sweden for their thrift and ingenuity. Kamprad possessed both.
Later in life, his name often appeared on lists of the world’s richest men, but he never adopted the aura of a tycoon. He drove a modest Volvo and dressed unassumingly. In a 1998 book that he co-authored about IKEA’s history, he described his habit of visiting vegetable street markets right before they closed for the day, hoping to get a better price.
Kamprad was a precocious entrepreneur who sold matchboxes to neighbors from his bicycle. He bought them in bulk very cheaply from Stockholm, and sold them at a low price but still made a good profit. From matches, he expanded to selling fish, Christmas tree decorations, seeds and later ball point pens and pencils.
His personal wealth was $113 million. That did not include assets from IKEA, which is run by a foundation.
