The founder of IKEA, Ingvar Kamprad, embodied legendary thriftiness, integrating frugality into both his personal life and the business ethos of the company. A Forbes profile attributes Kamprad’s thriftiness to Smland, his native region known for its practicality and resourcefulness amidst its rugged landscape of rocky terrain and dense forests.

Smland natives are known for their thrift. Swedish folk humor features many Smlander jokes, similar to English jokes about Scots. The Smland stereotype fits Kamprad to a tee. He regularly haunts discount outlets and has become adept at finding cheap air tickets on the Internet. When shopping in the open-air vegetable market in the little Swiss town above Lausanne where he lives, he likes to wait until closing time to get a break on prices. He admits that this drives his wife to distraction. His one luxury: a small vineyard in Provence. “Very expensive hobby,” he grumps.

Kamprad justifies his parsimony as sound management practice. “Why do I take cheap air trips?” he asks rhetorically. “Take second-class train rides? How the hell can I ask people who work for me to travel cheaply if I am traveling in luxury. It’s a question of good leadership. Best to stay in touch with the real world.”