IKEA (/aɪˈkiːə/; Swedish: [ɪˈkeːˈa][7]) is a multinational group of companies that designs and sells ready-to-assemble furniture (such as beds, chairs and desks), appliances and home accessories. As of January 2008, it is the world's largest furniture retailer.[8] Founded in Sweden in 1943 by then-17-year-old Ingvar Kamprad, who was listed as one of the world's richest people in 2013,[9] the company's name is an acronym that consists of the