Richard Liu Qiangdong Grows JD.com Even More

China is the wealthiest nation in the world, so what does that say about its entrepreneurs? One entrepreneur making international headlines is Richard Liu Qiangdong, founder and CEO of JD.com.

 

Currently, JD.com is the most successful online business in China. Forbes estimates the company’s net worth at $11 billion. In an interview with Davos-Klosters in Dallas earlier this year, Richard Liu Qiangdong spoke about his climb to success. He agreed to the forum-style discussion so that he could hear voices from an international audience. The interview also allowed him to share some business and personal facts and tips that may help others shape their enterprises.

 

The first story he shared was about combining his name and his wife’s name to come up with JD. That tidbit was a little of both business and personal information. Second, he talked about first coming up with the idea of JD.com. Read This Article for additional information.

 

After earning a sociology degree from Renmin University, he started thinking about opening his own business. With a degree in sociology, he couldn’t earn much money, but entrepreneurship offered limitless potential. In need of money, he began learning computer programming and exploring his entrepreneurial options.

 

Liu’s first jump toward owning a company was a little restaurant he started while working toward another degree from China Europe International Business School. With school and work taking much of his time, he only worked at the restaurant two hours a week, leading the restaurant’s quick failure. Still, he continued exploring entrepreneurship.

 

After earning his EMBA, he took a job at Japan Life, where he worked his way up the ladder. Though he landed a professional job, he needed more money. In 1998, he opened a tiny store called Jingdong, where he sold magneto-optical products. Finally, he launched an idea that made him a successful entrepreneur.

By 2003, Jingdong had 12 stores across China. Sadly, the SARS outbreak brought his company to an end, forcing him to close all 12 stores. That’s when Richard Liu focused on launching JD.com, which is now a $60 billion company.

 

More about Richard Liu Qiangdong on http://usa.chinadaily.com.cn/epaper/2017-03/09/content_28492448.htm

Richard Liu Qiangdong: JD.com to Take its Logistics Business Public

Richard Liu is the Chief Executive Officer and founder of JD.com, the leading e-commerce platform retailer in China. Currently, JD.com has a net worth of $ 58 billion. Richard Liu was born in Suqian, Jiangsu province in 1973, in a modest family background. Richard Liu acquired his first degree in sociology from the Renmin University of China. During his free time at the university, Liu Qiangdong had a great passion for computers. His love enabled him to enhance his skills in computer programming, especially in coding work. He later attained an EMBA from China Europe International Business School.

After two years of a successful career with Japan Life, a company which dealt with health products, Richard Liu quit employment and started a business in Beijing. His venture, Jingdong, sold magneto-optical products and within six years, Richard Liu had seen the company grow to more than 12 stores. Later in 2004, he changed the business model to establish the current JD.com.

As an aggressive entrepreneur, Richard Liu has seen the company flourish to be a market giant in China. JD.com has also partnered with other companies to cement its authority in the Chinese and global market. Notable partners include leading brands like Walmart, which has recently increased its shareholding to 12 percent. Others include the fashion guru, Farfetch, which has over $397 million worth of investment in the company.

In the recent world economic forum, held in Davos, Switzerland, Richard Liu expressed his desire to offer the logistics business at JD.com to the public. The logistics business is currently wholly owned by the company. The JD.com founder hinted that they have not decided on the countries to list their stock, but they are most likely to do it in mainland China or Hong Kong. The move follows JD’s listing on the American depository shares in it is Group Company on the Nasdaq, in 2014.

Liu Qiangdong also added that the company has kicked off a fundraising round at its logistics company, targeting to collect more than $2 billion. Sequoia Capital and Hillhouse Capital Group have shown interest as lead investors in the venture.

Visit his LinkedIn 

 

 

Richard Liu Qiangdong Outlines His Ambitious Plans For JD.com

Richard Liu Qiangdong has propelled JD.com from a small startup into one of the leading e-commerce retailers in China. Richard Liu built the company from scratch way back in 2004. Before founding JD.com, Richard Liu ran a series of stores, which dealt in the sale of magneto-optical products. The business collapsed in 2003, after the outbreak of the deadly SARS virus. The collapse of the brick and mortar establishments led to the birth of JD.com.

 

Today, JD.com is the choice online marketplace for millions of shoppers across the world. The company uses its website and customized mobile app to sell a wide range of authentic products to its customers. JD.com offers almost every product, which customers require. The products include electronics, automobiles and accessories, apparel, cosmetics, and other fast-moving consumer goods.

 

Besides its operations in mainland China, JD.com has expanded to cover other parts in South-East Asia. It has also partnered with other leading brands to market and sell their products through JD’s online platform. Some of the notable partners include Walmart, Fartech, and Wechat. Currently, JD.com is worth a whopping $11.6 billion, with a market valuation of $ 67 billion.

 

Richard Liu Qiangdong has excellent plans for JD. During the recent World Economic Forum in Davos, Switzerland, he disclosed that JD.com is gearing up to cover the rest of the Asian market, after which it will venture into Europe. According to Liu, the plan is in line with the Chinese “One Belt and One Road” project. Liu believes that JD.com can project Chinese soft power through online trade. JD will achieve this goal by partnering with other retailers, who would wish to sell their products in Asia. Likewise, the company will also promote Chinese products in overseas markets. Read This Article for related information.

 

During the forum, which was the first to attend, Liu Qiangdong spoke to a gathering of about 50 outstanding business personalities from different parts of the world, entitled “An Insight, An Idea with Richard Liu”.

 

Some of the notable dignitaries in attendance included Greg Foran, the head of Walmart in the Unites. Kasper Rorsted, the Chief Executive Officer of Adidas Group, was also present. The guests enjoyed their glasses of Chateau Montrose 2000 Bordeaux blend as they listened to Liu’s inspiring life story.

 

See also: http://www.ftvcapital.com/team-member/richard-liu/

JD.com’s Role In Modernizing Commerce Across China

JD.com is one of the largest online retailer, as well as, the biggest internet company by revenue in China. Unlike other online retailers, JD.com has been able to set the standards of online shopping through its commitment to authenticity, quality and also its wide variety of products covering from electronic apparels, cosmetics to food products. The development in technology have made it possible for the online retailer to grow at a high-speed rate as opposed to its competitors.

 

Recently, JD.com launched a joint research lab for blockchain, known as the  JD Blockchain Platform; with (ISCAS) Institute of Software at the Chinese Academy Of sciences and (NJIT) which is the Ying Wu College of Computing at the New Jersey Institute of Technology.

 

That venture will focus on solving stability, and efficiency challenges which are considered the most significant bottlenecks, which may restrain the application of the blockchain technology. JD.com has also been able to come up with an eco-friendly packaging program, called Green Stream Initiative, whereby consumers can get their products delivered in a reusable packaging for medium and small-sized parcels. That in turn, it’s considered to lower packaging costs, while at the same time promoting environmental conservation. The service has been able to kick off in Guangzhou, Shenzhen, and Beijing and it is expected that by the end of 2018, the packaging option will be available in more than 20 cities across China. View More Information Here.

 

Gieves &Hawks is a renowned British menswear brand which has also come into partnership with JD.com to provide its consumers with quality luxurious menswear. Therefore consumers do not have to worry about how to purchase luxurious brands such as Gieves &Hawks.

 

The online retailer has able been able to develop JD Cloud Warehouse Management Solution through the JD cloud warehouse management solutions, which helps companies to lease under-utilized warehouses to third parties. That, in turn, boosts the efficiency of the entire logistics department, and at the same time maximizes the use of real estate. It also promotes efficient delivery of goods to consumers. The JD smart supply solution chain open solution, also allows the merchants to predict the inventory of demand and supply of different types of products.

 

View source: https://www.america-retail.com/innovacion/innovacion-jd-com-announces-blockchain-focused-smart-cities-initiative/