• Sweden's news in English

Kamprad pledges Ikea 'transparency'

AFP/The Local · 18 May 2011, 13:25

Published: 18 May 2011 13:25 GMT+02:00

Facebook Twitter Google+ reddit

"We have nothing to hide. There is no pretension to hide anything. We are going to go through everything and show that we follow each country's laws and regulations," Ingvar Kamprad, the 85-year-old billionaire who founded Ikea in

1943, told the Expressen daily.

"We will make ourselves more transparent," he said.

Kamprad's comments came a few months after a documentary aired on Swedish

public television, SVT, alleged the secretive foundation that controls the company was set up to avoid taxes.

Expressen reported that the Kamprad family decided Monday at a meeting where the allegations against Ikea were discussed to vow complete transparency.

Kamprad pointed out however that there was a lot of "cleaning up" to take care of, "so I'm not sure when we will be done. Maybe at the end of the year or at the beginning of next year."

Shortly before the SVT documentary aired in January, Kamprad, who had long claimed he no longer controlled the furniture giant, admitted he still held the reins through the previously secret Intergo Foundation.

The flat-pack furniture empire famous for its big blue box warehouses has also been tangled in a bribery scandal in Russia which forced the firing of two top executives at the start of 2010.

Ikea is an unlisted, family-owned company that traditionally does not release regular earnings reports, but has in recent years published occasional figures showing earnings and sales.

Story continues below…

In such a report in January this year, it posted a significant hike in net profit in 2010 as sales rose, especially in China, Russia and Portugal.

The group, which at the end of last year counted 127,000 employees, said Europe accounted for 79 percent of sales, with North America making up 15 percent and the Asia-Australia region the rest.

Kamprad, who started Ikea as a teenager, has lived in Switzerland since 1976 to avoid Sweden's steep wealth taxes.

AFP/The Local (news@thelocal.se)

Facebook Twitter Google+ reddit

Your comments about this article

17:14 May 18, 2011 by swedejane
"We vow transparency...now that we've been caught." Whatever...I wouldn't trust this guy any further than I could throw one of those junk Ikea closets.
22:07 May 18, 2011 by jack sprat
Probably saving up towards the next Nazi uprising.

Somehow I doubt if the leopard hs changed its spots.
09:18 May 19, 2011 by Pont-y-garreg
The Local just loves that word "slew".
15:02 May 19, 2011 by GLO
WOW !!!! This guy invented a business, and you jokers think he owes you anything. This is NUTS !!!!
18:59 May 19, 2011 by prince T
I dont know why people hate this man. his brain have created 10 thousand jobs in sweden alone. It is his money and he is not a government official. He owes no one any apology. We should infact be grateful and desire to have more like him here. We pushed him out of the country because of our stupid tax. If he was resident in sweden, he would not be among the richest in the world.
12:05 May 23, 2011 by jomamas
Only in Sweden, would the nations population question and hamper probably the most productive, positive, influential and economically important company in the country - that is respected worldwide.

That guy created 100K jobs out of thin air.

He should be the nations greatest hero.

Or perhaps he should shut it all down and have those people live on welfare?

Sweden = Suicide
07:21 June 18, 2011 by rufus.t.firefly
It doesn't mention that Ikea is registered as a tax free charitable organization, although its charitable activities are negligible. I wonder if any of his adamant defenders here have any thoughts about that? You guys should try that and see how it works out for you.

Don't you think Ikea should pay its fair share of the tax burden, which has been shifted down the income scale to people like us and employees of Ikea? It wouldn't be painful for Ikea, but it would relieve pain for the rest of us and increase the level of public services.

While Ikea has a positive side, its founder and owner Ingvar Kamprad should not be able to live in a privileged legal universe, separatefrom mere mortals like us.
Today's headlines
Video: How to be Joel Kinnaman for a day
Kinnaman with one of the camera rigs that will allow people inside his head. Photo: Tele2

The Swedish Hollywood actor will strap a camera to his head, stream it live and allow viewers to interact with him this weekend.

Presented by Invest Stockholm
How Stockholm's cold climate boosts creativity
Photo: Ola Ericson/imagebank.sweden.se

Do long, dark winters actually make Swedes more creative and more productive? We spoke to Stockholm startups to find out.

Meet Sweden's lonely Donald Trump voter
A Donald Trump campaign button. Photo: Rogelio V Solis/AP

The Local talks to an American Donald Trump supporter on what it is like living in progressive stronghold Sweden.

Sweden to keep record-low interest rate in 2017
Sweden's landmark negative interest rate will continue towards 2018. Photo: Anders Wiklund/TT

The Swedish central bank said that it will take longer than expected to reach its inflation target.

Presented by Stockholm University
9 unexpected programmes at Stockholm University
Photo: Niklas Björling

Did you know Stockholm University offers 75 master's programmes taught in English? And some of them are programmes you won't find anywhere else...

Creepy clown messes with the wrong dog walker in Sweden
Not the clown in the story. Photo: Pontus Lundahl/TT

A dog helped its owner fight off a creepy clown chasing the pair in southern Sweden.

A million Swedes are digitally excluded: report
How should Sweden bridge the digital divide? Photo: Henrik Montgomery/TT

Tech-savvy Swedes? Perhaps not. A new study suggests that at least a million of its residents feel the pain of the digital divide.

Malmö's 19th Swedish title sets Champions hopes alight
Malmö fans celebrating after the match. Photo: Björn Lindgren/TT

Malmö FF have their eyes set on the Champions League after winning the Swedish league for the 19th time.

What's on in Sweden
Five great autumn events in Sweden this week
Jazz in northern Sweden. Photo: Umeå Jazz Festival

Food, music, movies and more food. What better way of helping yourself forget that the days are getting shorter and colder?

Here's how slow Sweden's high-speed trains are getting
A Swedish SJX2000 high speed train. Photo: Tomas Oneborg/SvD/TT

The high-speed rail journey between the three biggest Swedish cities is about to get longer.

Sponsored Article
One expat's strategy for making friends in Stockholm
People-watching: October 26th
Sponsored Article
Nordic fashion in focus at Stockholm University
Sweden cuts 2016 refugee forecast
Is Game of Thrones coming to Sweden?
Blog updates

6 October

10 useful hjälpverb (The Swedish Teacher) »

"Hej! I think the so-called “hjalpverb” (auxiliary verbs in English) are a good way to get…" READ »


8 July

Editor’s blog, July 8th (The Local Sweden) »

"Hej readers, It has, as always, been a bizarre, serious and hilarious week in Sweden. You…" READ »

Sponsored Article
Stockholm: creating solutions to global challenges
Property of the week: Kungsholmen, Stockholm
Sponsored Article
Last chance to vote absentee in the US elections
Will Swedes soon be looking for fairtrade porn?
The Local Voices
'I simply don’t believe in nationality'
Why we're convinced Game of Thrones is based on Sweden
Sponsored Article
This is Malmö: Football capital of Sweden
People-watching: October 21st-23rd
Sponsored Article
Where is the Swedish music industry heading?
Fury at plans that 'threaten the IB's survival' in Sweden
Analysis & Opinion
Are we just going to let half the country die?
Sponsored Article
Why you should 'grab a chair' on Stockholm's tech scene
Angry elk chases Swede up a lamp post
Sponsored Article
Swedish for programmers: 'It changed my life'
The Local Voices
'Alienation in Sweden feels better: I find myself a stranger among scores of aliens'
People-watching: October 20th
Sponsored Article
Top 7 tips to help you learn Swedish
The Local Voices
A layover at Qatar airport brought this Swedish-Kenyan couple together - now they're heading for marriage
Sponsored Article
‘Extremism can't be defeated on the battlefield alone’
Swede punches clown that scared his grandmother
Sponsored Article
Stockholm: creating solutions to global challenges
Fans throw flares and enter pitch in Swedish football riot
Sponsored Article
Why you should 'grab a chair' on Stockholm's tech scene
Could Swedish blood test solve 'Making a Murderer'?
Sponsored Article
Where is the Swedish music industry heading?
Swedish school to build gender neutral changing room
Sponsored Article
One expat's strategy for making friends in Stockholm
People-watching: October 14th-16th
Sponsored Article
Nordic fashion in focus at Stockholm University
Man in Sweden assaulted by clowns with broken bottle
Nobel Prize 2016: Literature
Watch the man who discovered Bob Dylan react to his Nobel Prize win
Record numbers emigrating from Sweden
People-watching: October 12th
The Local Voices
'Swedish startups should embrace newcomers' talents - there's nothing to fear'
How far right are the Sweden Democrats?
The Local Voices
Syria's White Helmets: The Nobel Peace Prize would have meant a lot, but pulling a child from rubble is the greatest reward
jobs available