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.