How Richard Liu Built The Amazon Of China

Richard Liu is a highly influential Chinese entrepreneur who founded JD.com. His company is not just the biggest e-commerce company in China but its largest retailer overall. He founded JD.com in 2004 and is its chairman of the board and chief executive officer.

The precursor of JD.com was established by Liu Qiangdong in June 1998. He had started a retail store that supplied computer parts. He named his store Jingdong and over the course of five years expanded it to 12 locations. His first store was in Beijing and he expanded to Shenyang, Shanghai, and beyond. He was making about $9 million annually when he decided to launch a website in January 2004.
What set his website, JD.com, apart from other e-commerce websites was its commitment to quality and authenticity. He also kept adding on products he offered consumers which, along with the sales volume, made his company known as the Chinese version of Amazon. JD.com has 54.3% percent of the online sales market. In 2014, it was listed on the NASDAQ and in 2016 it became the first Chinese company of its kind to be named as one of the Fortune 500 companies.

People can order virtually anything off JD.com. This includes even fresh food which is delivered via its cold storage logistical chain. Richard Liu will only source products directly from its suppliers. This means that he can ensure everything sold on JD.com is authentic which is highly prized by Chinese consumers used to dealing with fake goods. This reputation of being an honest and reliable place to buy things from is what has driven the growth of JD.com. They also offer very rapid delivery to people everywhere in China which is another reason for their success.

About Liu Qiangdong: www.forbes.com/profile/richard-liu-1/