Ikano include mortgage loans, consumer loans, and loyalty cards for retailers and the residential operations consist of rental and tenant owned apartments in various locations in Sweden. Ikano owns the IKEA franchise rights for Malaysia, Singapore and Thailand, and operates IKEA stores in these markets. In 2015, Lars Thorsén succeeded Arja Taaveniku as CEO of Ikano Group. Ikano Ikano Group is a privately held international group of companies with the parent company Ikano S.A. based in Luxembourg. It was originally a part of IKEA, which was founded by Ingvar Kamprad, then became independent in 1988, and has since been owned by
Ingvar Kamprad development, allowing it to lower its prices by an average of 2–3% over the decade to 2010, while continuing its global expansion. Kamprad explains his social philosophy in his "Testament of a Furniture Dealer": "It is not only for cost reasons that we avoid the luxury hotels. We don't need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength and our will!" Kamprad owned a villa in Switzerland, a large country estate in Sweden and a vineyard in Provence, France. Kamprad drove a Porsche for several years. Kamprad had named his sons as the sole