IKEA (with legal entity House Market Bulgaria EAD) set foot on the Bulgarian market in 2011 with the launch of its Sofia store. IKEA entered the Bulgarian market through a franchise agreement with the company House Market S.A., part of Fourlis Group of Companies, which operates five IKEA stores in Greece and one in Cyprus.
IKEA is the largest home furnishing retail chain. The company was founded in southern Sweden in 1943 by Ingvar Kamprad. Since then, IKEA has grown to a retailer with 151,000 co-workers in 42 countries, generating annual sales of more than 29.2 billion Euros. 345 IKEA stores in 42 countries were open and operating by the end of business year 2013. IKEA stores were visited 775 million times during year 2013 offering to their visitors a fun day out for the whole family.
IKEA vision is to create a better everyday life at home for the many people.
IKEA business idea is to offer a wide range of well designed, functional, home furnishing products at prices so low, so as many people as possible will be able to afford them.
Every single company that belongs to The Fourlis Group has its own separate management, and the Groups' coordination that takes advantage of the synergies created, exists through the "mother" company FOURLIS S.A. HOLDINGS.
FOURLIS S.A. HOLDINGS entered Athens' Stock Exchange market in 1988.