IKEA is a privately-owned, international, low-cost home products retailer that sells modern, utilitarian design furniture, much of which is assembled by the consumer. IKEA was founded in Sweden by Ingvar Kamprad and it is owned by a Dutch-registered foundation controlled by the Kamprad family. IKEA is an acronym comprising the initials of the founder's name, Ingvar Kamprad, and home village, Elmtaryd, Agunnaryd. The owner/franchiser of the IKEA trademark and the IKEA Concept is Inter IKEA Systems B.V. It has corporate offices in the Netherlands, Sweden and Belgium. The IKEA brand is owned by another company with complex ownership via several companies and foundations in several countries. Stores pay a 3% royalty on all products sold to the brand owners.
