IKEA is an internationally known home furnishing retailer. IKEA’s annual revenue has seen constant growth over the past two decades. In 2024, revenue amounted to over 45 billion euros. Where was IKEA founded? IKEA is a Dutch-based Swedish multinational company. It was founded in 1943 as a mail-order sales business and began to sell furniture in 1948. The first IKEA retail store was opened in 1958 in Småland, Sweden. Today it is the world's largest furniture retailer, recognized for its Scandinavian style. In 2024, Europe was home to the most IKEA stores worldwide, with over 280 stores across the continent. All other regions accounted for less than 200 stores. How does IKEA work? Low prices are the cornerstone of the IKEA business idea and the company always tries to do things as efficiently and cost-effective as possible. The business’ innovations include new materials that contribute more to a sustainable environment, which are also less costly whilst using the newest ways of packaging, handling and transporting materials. Their business model works; IKEA’s worldwide brand value reached almost 16 billion euros in 2023.