Founder of Swedish furniture firm Ikea Ingvar Kamprad dead aged 91
Ingvar Kamprad, founder of IKEA, passed away at his home in Sweden at the age of 91, the company said on its official Instagram account.
In June 2013, Mr Kamprad announced that he would retire from the board which controls the IKEA brand as part of moves to hand responsibilities over to his son, Mathias.
Ikea - famed for its charming naming system, picture-based assembly manuals, and affordable prices - now boasts more than 300 stores in 29 countries worldwide.
The man who built the world's biggest furniture retailer has died.
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"Ingvar Kamprad was a great entrepreneur of the typical southern Swedish kind - hardworking and stubborn, with a lot of warmth and a playful twinkle in his eye".
Ikea was known for its furniture but it now makes and stocks a gargantuan range of Scandinavian inspired home wares.
Kamprad has been previously ranked among the world's 20 richest people by Forbes magazine.
The first Ikea store outside of Scandinavia opened in the suburbs of Zurich in 1973. His personal fortune was recently estimated at more than $A45 billion and IKEA is now heading for 50 billion euros in annual revenues.
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