The brand was sold by Interogo, controlled by Ikea founder Ingvar Feodor Kamprad, to daughter company Ikea Systems in the Netherlands, Swedish news agency TT reported Thursday.
The $11.2 billion price tag isn't unreasonable because of what comes with it, one expert said.
"If you buy Ikea's brand you are simultaneously buying all the customer relations and good will that the company has worked for. That's what you pay for -- not the logo," Bengt Hakansson of Brand Clinic told TT.
The Ikea brand combines low prices with cultural values, Hakansson said.
"People like Ikea no matter what," he said.
The Ikea brand is 89th among the world's 100 most valuable brands.
Aaron Carter is still in love with Hilary Duff
NBC reportedly holds celebs hostage to Jimmy Fallon's show