Ikea's enigmatic founder turns 90
Creator of the Swedish furniture empire famous for its thrift, style and convenience, Ingvar Kamprad is also known for alleged tax avoidance
Stockholm
IKEA founder Ingvar Kamprad, who built a global business empire with revolutionary flat-pack furniture and dallied with Nazism in his youth, turns 90 on Wednesday.
Creator of the Swedish furniture empire famous for its thrift, style and convenience, Mr Kamprad is also known for alleged tax avoidance.
The contrasts at Ikea - an everyman's furniture store yet global behemoth - illuminates his conflicting character.
An admirer of the humble classes who bent over backwards to avoid paying taxes, Mr Kamprad has been described as an obsessive penny-pincher despite being one of the world's richest people.
He created a modern, visionary business model but never escaped the taint of…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
France's Casino supermarket chain to axe up to 3,200 jobs
Prada outshines rivals with 16% revenue lift boosted by Miu Miu
Toymaker Hasbro posts quarterly profit beat, slower sales decline
Hilton lifts 2024 profit forecast on international travel demand
China knockoff raid jolts a global throng of fake-fashion influencers
Roche cuts pipeline after research setbacks and sales drop