Richard Liu Qiangdong prides himself as the founder of one of the largest Chinese online shopping sites, JD.com. On the other hand, JD.com boasts of having several logistic centers for operations. The e-commerce platform is also reputable for providing shoppers with fast and accurate deliveries. Deliveries for products ordered from the site take three to six hours to reach the consumers.
Liu is hopeful that JD.com will expand to Southern Asia through the adoption of different business models and partnerships with distributors. He is also ambitious that the company will continue being competitive in the international online shopping marketplace. He believes that Chinese businesses can successfully expand to the United States if the regulations in the country favor them. To him, JD.com is as a result of indulging in business with integrity and determination.
JD.com is on the verge of reducing the maximum delivery time by ten days to improve costs and operational efficiency. JD operates as a publicly traded e-commerce platform with stocks listed on NASDAQ and its headquarters in Beijing, China. Richard Liu effortlessly ensures that JD.com offers quality consumer goods and services to the customers to stay competitive in the industry. As of 2018, JD’s online inventory includes more than one billion products.
Richard Liu’s Education and Professional Background
Richard Liu earned his sociology degree from the People’s University and EMBA at the China Europe International Business School. Though he was passionate about pursuing a career in politics, he decided to venture into entrepreneurship. He sourced money from his family and carried out programming jobs to raise capital for his first restaurant. He also worked logistics supervisor computer director and business director at Japan Life.
Liu started a company (Jingdong) that distributed magneto-optical products and managed to expand it to accommodate 12 stores. He later made his debut in the e-commerce industry with JD.com, which sold consumer electronics before diversifying to various consumer goods. Most people compare Liu to Jeff Bezos and JD.com to Amazon because of the business models Liu adopted. Liu’s net worth currently stands at $12.7 billion as his company’s stock price keeps increasing.
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