"Ingmar Kamprad died in calm at home" in sourn Sweden, announced on Twitter Ikea, an empire that now employs 190,000 people in various parts of world and generates a turnover of 36.3 billion euros. "We will remember his dedication and commitment to ordinary people".
The IKEA Group's president, Jesper Brodin, said Kamprad's "legacy will be admired for many years to come and his vision - to create a better everyday life for many people - will continue to guide and inspire us".
Ikea founder Ingvar Kamprad at the company's head office in Almhult, Sweden, in 2002. The company says he had faced a "short illness".
Ingvar Kamprad, "one of the greatest entrepreneurs of the 20th century", passed away at his home in the southern province of Smalad, said a company statement. Ikea's communications department confirmed his death to Swedish media on Sunday, including to state-broadcaster SVT.
Initially, the company sold pens and clocks but after a few years, Ikea also started selling furniture, with the first furniture collection produced in the mid-1950s.
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"As soon as products were nice-looking and of good quality, they would also be very expensive".
But IKEA'S often-confounding assembly instructions have flummoxed so many people through the years that some couldn't resist wondering how long it might take to put together Kamprad's coffin in macabre posts on Twitter.
The man behind the world-renowned furniture retailer Ikea has died.
From 1970, Ikea conquered major markets in Europe, North America, Asia and the Middle East, thriving on the spending power of the emerging middle class in countries like post-Cold War Russia. The company's blue and yellow logo is drawn from the Swedish flag; sofas and doorknobs are named after Swedish towns (Klippan, Malmo); and restaurants inside Ikea stores serve foods including Swedish meatballs and Swedish fish candy. Kamprad had not had an operative role in the company since 1988, but continued to serve as a senior adviser.
In June 2013, he announced his retirement from the IKEA board and handed his responsibilities over to his son, Mathias.