IKEA is rumored to be planning to expand into the insurance market, the Wall Street Journal reports.
"This is the first time daddy properly lets the sons' company into IKEA," a source who was informed about the insurance expansion told the newspaper, citing the founder's declining role in the company and his son's increasing leadership.
Founder Ingvar Kamprad of Sweden, who is now 88, was rumored in 2013 to step down from running the company's board as chairman and would transfer leadership over to his oldest son Mathias.
The company is also known for having very minimal media appearances and keeping a low-key profile in its public announcements.
The Wall Street Journal also reports that Ikea began selling child and pregnancy insurance, an initiative under the title of "Omifall," which was launched earlier this month in a few Ikea locations in Sweden.
Ikea launched a promotional mirror in a British store recently that offers compliments to individuals looking at it.
"The inspirational talking mirror idea has been done before-most notably by the all-female Austin band The Mrs., but also by other marketers," Adweek writes in a review of the mirror release.
