Word: ikea
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Anders Dahlvig recently hit the 10-year mark as CEO of Ikea. Under his leadership, the Swedish furniture giant has nearly tripled its number of stores and employees, and committed to a broad new slate of policies on the environment. The company maintains a mixed reputation on quality, though, in the midst of an increasingly tough economic climate. In a series of recent conversations, Dahlvig spoke with TIME's Jeremy Caplan about why the tough business climate works in Ikea's favor, where the company plans to expand, and what Ikea is doing to be greener...
TIME: How is Ikea faring amid the current economic turmoil? DAHLVIG: This is a really good time for us. The way we've set up our business, we're planning for a climate like this all the time. We have a very conservative policy when it comes to borrowing money. We basically only use our retained earnings and don't borrow very much. We also have a very conservative policy when it comes to how we place our cash and our liquidity. We don't place anything in equities, so we haven't lost a dime...
...promotions and price reductions. For example, we're running promotions where we reduce prices on top-selling products to attract people to the stores. We're also using our restaurant to attract visitors with things like free breakfast. It's strange that people will go all the way to Ikea for $5 or however much a free breakfast is, but the reality is that people actually do that...
Little known to most students, the IKEA furniture that adorns their rooms caters not only to the tenets of affordability and ease-of-use, but also to the Scandanavian design principles of sustainability and elegance. Glass artist and Danish Design School Professor Charles Meaker discussed the merits of Swedish construction and opportunities for architectural study abroad with a handful of students at the Office of International Programs yesterday. When Meaker asked for their thoughts on IKEA, the students—who were also snacking on Danish pastries provided by the OIP—listed the simple design and quality...
...IKEA. Two, buy what’s on sale at IKEA. Warm up your room with a rug and troll your family’s storage,” he says. “And don’t buy dorm-focused things. The market is full of fluffy cute things for your room that will end up cluttering everything...