Richard Liu Qiangdong Narrates About His Journey to Success with JD.COM


Richard Liu Qiangdong launched JD.COM officially in 2004 and he helped the company to grow providing a few products including IT equipment, mobile phones and digital electronics to offering more than one billion products. The wide range of products to choose from on the platform gives it a competitive edge against competitors such as Walmart.


Richard Liu Qiangdong was born in Jiangsu in China to a family of peasants. His family struggled financially and he was raised up by his grandmother. At one point, his grandmother was ill and they could get her quality medical care because of lack of funds. While still at college, he started a catering business which failed soon afterward. Looking back, he attributes the failure of the venture to focus on his studies.


After college, Richard Liu Qiangdong started a magneto-optical products business at the heart of Beijing. The business grew gradually until the SARS outbreak made it unbearable for workers to continue working at the premises. He started selling the products online and the reality that e-commerce was the future hit him. He realized it could solve the logistic challenges associated with physical stores.


Richard Liu Qiangdong is a true entrepreneurial genius and recognizes the power in of broadening his horizons. Richard Liu himself is worth a staggering $11 billion. His success has skyrocketed with the company.


Richard Liu helped the company to grow bringing the best products from all parts of the world to Chinese consumers. JD.COM has also advanced its logistic infrastructure and it can make deliveries within Beijing in 3 hours. Beyond Beijing, deliveries can be made within 6 hours. JD has partnered with vendors and other companies to serve the Chinese consumers the best way possible.


JD.COM is worth about $60 billion today. Some of the things that have proved to be top-selling on the platform include fast-moving goods. JD.COM is today the largest internet company in China. Richard Liu has also found himself in the Chinese billionaires club with an estimated net worth of $11 billion.


He is working to make the company not only bring the best products to China, but also expand globally. He looks to make his company establish a presence in the US. According to the successful entrepreneur, the company will become the largest e-commerce platform in the world based on valuation. Read This Article for more information.


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How Partnership will Revolutionize The Fashion Market in Asia


In the last four decades, the luxury market in the world has been on expansion, especially the Asian markets. One of the biggest companies in the luxury market — Prada — had attempted to venture into the Chinese market before. However, the new partnership with will redefine their future into this market. In a deal signed this year, Prada will access the Chinese market through the Chinese retail giant. The following are some of the deals about the partnership between the two companies.


First, the deal will see the Italian fashion giant access the Chinese market better. The company pointed out that has huge access to customers, and the availability of potential customers was one of the reasons why the Italian company chose the Chinese retail giant. Second, Prada will able to benefit from the company’s safest delivery unit.


Over the years, for example, JD has progressively made their systems better, especially their delivery wing. These two factors create a successful environment for the two companies. In addition, Prada will also benefit from the company’s professional customer service. In special markets such as luxury markets, customers’ opinions are critical.


In last year alone, the company managed revenue of US$67.2 billion dollars — the best performance in the world of e-commerce. Some of the reasons why resisted this net income include the following factors.


First, the company is the first ever entity in this market to have over 300 million customers. Even though not all customers were consistent, the profits are unmatched. Read This Article to learn more.


Second, the company continues to be the market leader in terms of storage facilities — currently owning over 550 warehouses in China alone.


In addition to structures and the company’s structure, JD is one of the companies that understand the importance of technology, especially interacting with customers. Therefore, the company continues to make it easy for customers to buy products on its website through mobile phones.


Lastly, the company remains one of the few entities in Asia in investing part of their income into projects benefiting the communities. The management believes that these projects are some of the ways the company connects with communities away from the business world.


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