The IKEA Concept is the core asset of Inter IKEA Group and it’s franchising operation. The IKEA Concept starts with the idea of providing a range of home furnishing products that are affordable to the many people. The overall purpose of Inter IKEA Group is to secure continuous improvement, development, expansion and a long life of the IKEA Concept. This will require investments in both good and bad times. Around the globe, a large number of companies operate under the IKEA trademarks. All IKEA franchisees are independent of Inter IKEA Group. A large group of franchisees are owned and operated by INGKA Group. The IKEA name combines the initials of IKEA founder, Ingvar Kamprad, (IK) with the first letters from the names of the farm and village where he grew up Elmtaryd and Agunnaryd (EA).