INGKA Holding

Last updated
INGKA Group
Company type Holding company
Industry Retail
Founder Ingvar Kamprad
HeadquartersNetherlands
Area served
Worldwide
Key people
CEO – Jesper Brodin
RevenueIncrease2.svg €37.36 billion (2020) [1]
Decrease2.svg €1.43 billion (2020) [1]
Decrease2.svg €1.189 billion (2020) [1]
Total assets Decrease2.svg €52.2 billion (2020) [1]
Total equity Increase2.svg €43.16 billion (2020) [1]
Number of employees
158,400 (2018) [1]
Parent Stichting INGKA Foundation
Website www.ingka.com
IKEA ownership chart
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Provides services to | Is the parent of | Provides funding to
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INGKA Holding B.V. is the holding company controlled by the Swedish Kamprad family. Based in Leiden, Netherlands, it is the largest IKEA franchisee holding company and controls 367 stores of the 422 of IKEA in 2018. [1] [2] The company is fully owned by the Stichting INGKA Foundation. INGKA is named after Ingvar Kamprad, its Swedish founder.

Contents

Relationship with other IKEA companies

Although it is the largest IKEA franchisee, INGKA Holding does not own the IKEA brand and associated trademarks; these are owned by Inter IKEA Systems in Delft, also in the Netherlands, which is the franchisor of the IKEA system and receives 3% of all IKEA revenues in royalties. Inter IKEA Systems is owned by Inter IKEA Holding, registered in Luxembourg, which is controlled, in turn, by Interogo Foundation, a Liechtenstein foundation that is also supported by the Kamprad family and is valued at approximately US$15 billion. [3]

Ingka Centres

The group's Ingka Centres division has developed several shopping centres in which IKEA is the anchor tenant, including the MEGA malls in Russia. Beginning in 2020, the division has acquired existing complexes which will be renovated to include urban IKEA locations, including Kings Mall in London, 6x6 in San Francisco, and the retail podium of the Aura condominium towers in Toronto. [4] [5] [6]

Ingka Centres announced in December 2021 that it would open two malls, anchored by IKEA stores, in Gurugram and Noida in India at a cost of around ₹9,000 crore (US$1.0 billion). Both malls are expected to open by 2025. [7]

Following the invasion of Ukraine, Ingka halted Retail operations in Russia and in September of 2023 sold all Russian "Mega" Centres to Gazprombank Group. [8]

Other investments

In September 2019, INGKA acquired an 80% stake in seven wind farms in Romania, purchased from the Danish wind turbine manufacturer Vestas. They are said to have paid $150.9m to the Danish firm through its investment unit. [9]

References

  1. 1 2 3 4 5 6 7 https://www.ingka.com/wp-content/uploads/2020/11/Ingka_Group_Financial_Performance_FY20.pdf [ bare URL PDF ]
  2. ↑ "Inter IKEA Systems B.V. - IKEA franchisees". Archived from the original on 2014-09-22. Retrieved 2014-08-29.
  3. ↑ "Furniture shops: The secret of IKEA's success". The Economist. 2006-02-24. Retrieved 2011-03-11.
  4. ↑ Butler, Sarah (January 9, 2020). "Ikea buys west London shopping mall in city centre push". The Guardian . Retrieved June 27, 2021.
  5. ↑ Schneider, Benjamin (September 8, 2020). "Ikea Coming to Downtown San Francisco". SF Weekly . Retrieved June 27, 2021.
  6. ↑ Patterson, Craig (March 25, 2021). "IKEA Announces Downtown Toronto Store". Retail Insider. Retrieved June 27, 2021.
  7. ↑ Jamkhandikar, Shilpa; Monnappa, Chandini (2021-12-08). "IKEA malls business to invest around $1.2 bln in India - executive". Reuters. Retrieved 2022-01-17.
  8. ↑ "Ingka-Centres-sells-its-Russian-portfolio-of-shopping-centres - Ingka Group". 2023-09-23. Retrieved 2024-07-30.
  9. ↑ "Ingka to acquire 80% stake in seven Romanian wind farms". Power Technology | Energy News and Market Analysis. 2019-09-15. Retrieved 2019-09-16.
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