Ingvar Kamprad, the man who brought low-cost, quality Swedish design to the world, has died aged 91 in his home town of Smaland. 

Kamprad was born on 30 March 1926, and from the outset showed entrepreneurial flair. His first enterprise, aged five, was selling matchboxes to neighbours. He was able to sell the matches cheaply because he bought them in bulk in Stockholm. 

The business operated from the family farm, Elmtaryd, in the forested region of Smaland, where the population is well known for its thrift and ingenuity, qualities that Kamprad also possessed in spades.

Kamprad soon expanded from matches to fish, Christmas tree decorations, seeds, pens, and pencils, and started IKEA when he was only 17.

In 1950, Kamprad began selling furniture manufactured in the forests close to his home. The furniture sold so well he decided to focus the business on low-cost furniture alone.

Kamprad got the idea to get customers to build the furniture themselves when he watched an employee taking the legs off a table to fit it into a customer's car. He realised that by saving on space, he could save on money. By allowed customers to put the furniture together themselves, Kamprad was able to offer low prices - a model that we all know well today.

The name IKEA comes from a combination of the first letters of his own name, as well as the first letter of the family farm, Elmtaryd, and of the parish it's found in, Agunnaryd.

IKEA's turnover today is estimated to be approaching $60 billion, and despite having a fortune estimated to be approximately $117 million, Kamprad has always maintained a modest lifestyle.

He drove a basic-model Volvo and dressed modestly, and it has been reported that he even visited vegetable markets just before closing time in the hope of receiving lower prices.

Kamprad did make some mistakes during his life, probably most notably dabbling with Nazism. In the 1990s, Kamprad wrote to IKEA employees acknowledging that he once had sympathies for the far-right, and said it was "a part of my life which I bitterly regret."

He later admitted to youthful "delusions," saying that as a child we was influenced by his German grandmother, who supported Adolf Hitler.

Kamprad's association with the far right never impacted IKEA, which is today one of the most recognizable and respected brands in the world.

Kamprad was well known for his philanthropic work. It has been reported that he donated more than $20 million to philanthropic causes in 2012 alone.

Kamprad retired from the board in June 2013, and handed responsibilities over to one of his sons, Mathias.

Despite not having a day-to-day role at IKEA since then, Kamprad's principles of simplicity and modesty remain embedded in the company.

"One of the greatest entrepreneurs of the 20th century, Ingvar Kamprad, has peacefully passed away, at his home in Smaland, Sweden, on the 27th of January," the company said in a statement.

"Ingvar Kamprad was a great entrepreneur of the typical southern Swedish kind — hardworking and stubborn, with a lot of warmth and a playful twinkle in his eye," the chain's Swedish business said on Twitter on Sunday.

"He will be much missed and warmly remembered by his family and IKEA staff all around the world."

"He worked until the very end of his life, staying true to his own motto that most things remain to be done."

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