IKEA is a Swedish multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances, decoration, home accessories, and various other goods and home services. It was founded by Ingvar Kamprad in 1943 at the age of 17 in Småland, his home county in Sweden. The name IKEA is an acronym for Ingvar Kamprad, Elmtaryd (the farm where he grew up), and Agunnaryd (the nearby village). Although IKEA originated in Sweden, their household products and furniture products are manufactured in many different countries to achieve cost efficiency. IKEA has expanded to many countries around the world, including the United States, Canada, Australia, Japan, and many European countries.