IKEA
Home furnishings brand run as a franchise system by Inter IKEA Group, with Ingka Group as its largest franchisee in 32 countries. Neither group is listed; both are owned by foundations.
Industry: Home furnishings retail and franchising | Location: Netherlands | Founded: 1943
About IKEA
IKEA is a home furnishings brand operated as a franchise business, in which many groups of companies trade under one name. It is not listed on a stock exchange. Inter IKEA Group, owned by the Inter IKEA Foundation, includes Inter IKEA Systems B.V., described as the worldwide IKEA franchisor, together with range development, supply and industry activities. Ingka Group is the largest franchisee, operating IKEA retail in 32 countries and accounting for about 90 percent of IKEA retail sales. It is owned by a Dutch foundation with no shareholders.
Ingvar Kamprad founded the first IKEA company in 1943 and died on 27 January 2018, according to Wikipedia. Ingka Group was founded in 1982, and Inter IKEA says the current Inter IKEA Group was established on 26 August 2016. Ingka's site names Juvencio Maeztu as chief executive and president, appointed in August 2025. Inter IKEA announced that Pontus Erntell becomes chief financial officer and Rob Kelly retail concept manager on 1 September 2026.
Ingka's site lists 411 IKEA stores and city stores and 209 other formats, and reports retail sales of 41.5 billion euros for its financial year 2025. Inter IKEA Group counts 13 groups of franchisees and 800 direct suppliers, and reports total revenues of 26.3 billion euros for financial year 2025, down from 26.5 billion euros a year earlier.
In the Middle East, Argaam reported in October 2022 that Saudi Arabia's Alsulaiman Group holds the IKEA franchise in Saudi Arabia and Bahrain, that IKEA entered the Saudi market in 1983 through the group, and that the group was considering a listing of the franchise with Moelis & Company as adviser. Enterprise reported in February 2024 that the group planned 21 new Saudi stores, to raise the total from nine to 30, in Madinah, Makkah, Al-Qassim, Jazan and Tabuk.
TechScoop reported in June 2026 that Tabby's longer repayment plans were live at IKEA in Saudi Arabia. Ingka's news page of October 2026 lists IKEA adding more than 6,500 products to Douyin in China.
Leadership
- Juvencio Maeztu, Chief Executive Officer and President, Ingka Group
- Pontus Erntell, Chief Financial Officer, Inter IKEA Group
- Rob Kelly, Retail Concept Manager, Inter IKEA Group
- Erika Intiso, Chief Sustainability Officer, Ingka Group
- Saud Alsulaiman, Chief Executive Officer, Alsulaiman Group (IKEA franchisee for Saudi Arabia and Bahrain)