IKEA's Globalization Strategies and its Foray in China |
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IKEA's Global Strategy Contd...
IKEA opened its first store in China in 1998. Although the company's global strategy had worked well in the past in most of the markets it had entered, it quickly learnt that success in the Chinese market required a different strategy in the areas of Marketing and HR.
Background NoteIKEA was founded in 1943 by a Swedish entrepreneur Ingvar Kamprad (Kamprad), who still has control over the company through the INGKA Foundation, based in the Netherlands. In his youth, Kamprad sold matches to his neighbors on a bicycle. One of the important lessons that he learnt was that he could buy matches in bulk at a cheaper rate and sell them in small lots at a higher price to make a profit. At the age of 17, Kamprad started IKEA using some money from his father, and for many years he was its sole employee...
5] "IKEA Outlines Mainland Expansion Plan,"China Daily, www.china.org.cn, April 06, 2004.
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