The secret of Ikea’s hot dog with five-span bread is written down in Ingvar Kamprad’s testament – and behind the low price is a philosophy hidden.
“I proposed to the Executive Board that we would sell sausages for five kronor (approx 50 cents). They looked at me with anxiety and amazement, Ingvar Kamprad told in the book “The History of Ikea”.
The IKEA founder and strong man Ingvar Kamprad passed away this week, age 91
Hot dog with bread for a five kronas. The offer meets all customers, adjusted to suit each market, in the Ikea department stores around the world.
The idea was Ingvar Kamprad’s own, and behind it, it hides so much more than just cropping large volumes of sausage to a low profit margin.
After the death of the Ikea founder this weekend, the philosophy behind the hot dog lives on in the department stores. It was 1995 when Ikeagrundaren decided to sell hot dogs at a price that would leave customers astonished. The idea behind the sausage sale is based on a basic principle from the first bid in “A Furniture Dealers’ Testament”, Ingvar Kamprads “Bible”, distributed to staff in department stores around the world: “The Reasonable Price Distance”.
Because Ikea caters to many people, usually small resources, selling goods is less costly – they have to be much cheaper.
Stunningly much cheaper. To get this effect, the product must be well known to customers so that they have a clear idea of the product’s “normal price”.
This is how how was, the super entrepreneur Ingvar Kamprad. The man who started with zero in his pocket and built an empire on his ideas. IKEA is the largest private owned company in the world that is not on the stockmarket.
I have travelled to the beautiful city of Kiev in Ukraine. Sweden and Ukraine are very close and there has always been good relations between the two countries – being almost neighbors, sharing the yellow/blue colours.
I have had the fortune to visit Ukraine many times.
Now I am back for some meetings. I enjoy it.
On Sunday four times European Champions Sweden played Spain in the final of EHf Handball Euro 2018 Championship in Croatia.
After defeat in four previous finals, Spain have finally ended their hoodoo as they won the European handball championship with a victory over Sweden in Sunday’s final.
A rampant Spain, the oldest team of the tournament, lifted their first European handball title after a magnificent second half propelled the former world champions to a 29-23 win over the 16-nation tournament’s surprise package Sweden in the final on Sunday. Sweden has the ypungest team of the tournament.
The success gave joyous Spanish fans in the Zagreb Arena plenty to cheer about after several lean years, including a fifth-place finish in last year’s world championship which came on the back of missing out on the 2016 Olympic Games.
Sweden, who had defied the odds to reach the final, led 14-12 at halftime but the Spaniards turned the match on its head with an 8-1 streak early in the second half with their stand-in goalkeeper Arpad Sterbik pulling off some crucial saves.
Swedish Captain Jim Gottfridsson was hoted Most Valuable Player (MVP) of the tournament.
Gottfridsson is only 25, but he is truly a dual-threat player in attack. He already scored 27 times for Sweden, but he also assisted 23 goals, establishing himself as a very tough player to defend. The Swedish playmaker has been instrumental in his team’s success, providing his teammates with amazing assists, while keeping the defence guessing with a powerful shot.
Jim Gottfridsson comes from my home club Ystad and he is a friend of my son. They have played together and gone to the handball sports school at the same time. Jim Gottfridsson is the future handball and we are extremely pleas what this team performed in this tournament. A silver medal is very good. Next time we go for gold.
France won the bronze medal after beating Denmark,
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