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IKEA formed its name from the founder's initials (I.K.) plus the first letters of Elmtaryd and Agunnaryd, the farm and village where he grew up from a farmer to a businessman. Ingvar sold whatever he found could fill with a product at a reduced price under the brand name of IKEA (Dhanyasree, 2007). When Ingvar Kamprad outgrew his ability to make individual sales calls in 1947, furniture was introduced into the IKEA product range. Local manufacturers in the forests close to Ingvar Kamprad's home produced the furniture. The founder of IKEA soon saw the opportunity of becoming a furniture provider on a larger scale and discontinued all the other products to focus directly on low-priced furniture...
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