How IKEA Leveraged The Art Of Listening To Global Dominance
Last week, Swedish furniture retailer IKEA posted record revenues of $36 billion in 2012 and an 8 percent increase in net profit. The US market was a primary growth driver, with $4.1 billion in total sales. Since opening its first American store in 1985, the low-cost furniture seller now counts 38 stores and has become the second biggest home furnishing company in the US, behind Ashley Furniture. Mike Ward, president of the US division, believes it's just the beginning. "We're still very small," he says. "We have huge potential to grow our business here."