IKEA—Ingvar Kamprad’s startup from 1943
Talks with Petri
00:00
Were There Any Financial Innovations?
Fascinating times and interesting times and we could innovate a lot. Sometimes we had to obviously go and ask for permission in a way or decision because the numbers were just so big that if it were not going wrong it could have been fairly harmful. Buy in cheap currency selling in hard currency was maybe a coincidence but then it became a fact and so on. But Ingmar often said well we sell in Deutschmarks which was obviously the strong currency of Europe in those days and we buy in Swedish Corona and that's a pretty good combination. So yes we had obviously a large foreign exchange exposures and flows and so on, at least when Asia came into the picture and fairly large, large volumes
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