Partner Interview
Published January 26, 2026
Ikea: Culture & History
inpractise.com/articles/ikea-culture-and-history
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Disclaimer: This interview is for informational purposes only and should not be relied upon as a basis for investment decisions. In Practise is an independent publisher and all opinions expressed by guests are solely their own opinions and do not reflect the opinion of In Practise.
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This is a very basic question, but I think because it's such a fascinating company, it's worth stepping back. Furniture companies are notoriously hard to run. Going back to even the founder, Ingvar Kamprad, I think I'm saying it right, what do you think it was about his vision, his approach to business, the culture he created that at least created the seeds or the foundation for IKEA to evolve into what it is today?
What a great question. I can answer this one with a little bit of personal opinion and personal experience because I had the pleasure of having Ingvar come to visit my store when I was in Finland and actually taking him around an IKEA store. I can tell you that it's a very strange experience because he spent the first half an hour peppering me with questions to find out if I was an idiot or not. Then when he decided I wasn't an idiot, it was an amazing day because he would look at a chair that was on display and he'd look at the price and he'd go, "Well, the materials cost this, making it cost that, transport costs that. You're making too much profit. This is too expensive. It should be cheaper."
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This begs another question about your experience at the company. What was the mix of online sales versus retail sales that you saw? And roughly speaking, to the extent you can tell me, what does that mix look like today?
This one is incredibly market specific. Different markets are at different stages with their e-commerce development. If I focus on the UK, I have to be a little general here, but I can give you some broad outlines. The UK as a whole is an early adopter of e-commerce across all sectors. The Zalando effect is huge in the UK, where you buy three of one thing in different colors and sizes, find the one you want, and send back the ones you don't want. In the UK, for many years, about a quarter of the business came through the e-commerce channel. But then it started exploding. A couple of years ago, it almost seemed to flip overnight. We suddenly saw a precipitous drop in people visiting the store and an exponential growth in online sales, to the point where some weeks they were in balance. This put huge operational and logistical challenges on the company because normally these things happen slowly, but it happened fast.
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