Purpose
Inter IKEA Foundation owns and governs Inter IKEA Holding B.V.
The purpose of Inter IKEA Foundation is to secure the independence and the longevity of the IKEA Concept and the financial reserves needed to ensure this.
Inter IKEA Foundation can also make donations to certain philanthropic causes. Future changes to Inter IKEA Foundation may not affect the purpose.
Heritage
The ideas underlying the IKEA Concept are described by the IKEA founder, Ingvar Kamprad (1926-2018) in the Testament of a Furniture Dealer, a guiding document written in 1976. The document clearly defines the IKEA vision and the IKEA business idea.
The IKEA vision:
To create a better everyday life for the many people.
The IKEA business idea:
To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.
In The Testament of a Furniture Dealer, Ingvar Kamprad described the basic principles he so passionately believed in, such as: “Let us be self-reliant in the matter of building up financial resources”. Ingvar Kamprad had a true and burning desire for his lifework and at an early stage wished to secure the independence and longevity of the IKEA Concept. To help him achieve this he established Inter IKEA Group and the foundation ownership in the 1980s.
In 2013, Ingvar Kamprad resigned from the Advisory Council of Interogo Foundation and renounced his right to appoint members to the Advisory Council. Since then, successors are appointed through nomination from the outgoing member, followed by a vote in the Advisory Council. This shift in how members are appointed had been planned for a long time.
Nobody can guarantee a company or concept eternal life, but no one can accuse me for not having tried to
Changes in 2023
In 2023, Interogo Foundation demerged into two separate enterprise foundations (Unternehmensstiftung). The new Inter IKEA Foundation became the ultimate owner of Inter IKEA Holding B.V., the IKEA related business. Interogo Foundation continued to be the ultimate owner of Interogo Holding AG, the investment business.
The purposes of the two enterprise foundations are identical, namely to secure independence and longevity of the IKEA Concept and the financial reserves needed to ensure this.
Inter IKEA Foundation focuses on governing the IKEA businesses and securing independence and longevity of the IKEA Concept. Interogo Foundation focuses on governing the investment business and securing the necessary financial reserves.
The demerger further strengthened business focus and simplified alignment with upcoming regulations. It enabled the two businesses to keep different financial years and to continue to operate in a decentralised and efficient way.
Culture and values
The culture and values of Inter IKEA Foundation are identical to those of IKEA and reflect the entrepreneurial spirit of the late Ingvar Kamprad.