Ben Gilbert: uncertainty

Transcript context

…And it took venture capital to build that business and debt capital as we talked about. That to me is the most impressive thing about this whole business, is that it was just one foot in front of another. Take your money, keep plowing it into the next thing. More stats on the business today. They have 216,000 employees, they call them coworkers. It’s a slight decrease year over year from last year. IKEA is in 63 markets worldwide. Last year they welcomed 860 million people to the store. Sometimes they say store visits, sometimes they say visitors. I don’t know if it’s 860 million unique people or 860 million times a person walked into the door, but whatever. Either way it’s crazy. The demographic of their customer base is 20–36. There is an age where you churn out of IKEA, and they know this. This is measured in a bunch of external surveys. I’m surprised to hear you talking about how you’re doing so much active buying right now. Perhaps because you have your first child.…

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