Richard Liu is the COO and founder of JD.com, an e-commerce platform in China. In 1996, he graduated with a degree in Sociology from Renmin University of China but spent much of his time acquiring computer programming skills. In 1998, he opened Jingdong, a shop in that distributed magneto-optical products in Beijing. By 2003, the company was making annual revenues of approximately $9 million USD. Moreover, it had grown to twelve stores across Shenyang, Shangai, and Beijing.
However, after the SARS outbreak, Liu was forced to reconsider a brick and mortar business model. In 2004, JD.com was established. By the end of 2005, he closed all the stores and focused on e-commerce where the company sold a wide range of consumer goods besides electronics.In 2007, Richard Liu built a national logistic system that made last mile deliveries. This came after he realized there was a Chinese company that delivered products to most parts of China but at a high-end cost.
By 2014, JD has opened about 3210 delivery and pick-up stations. This allows JD.com to validate the quality of goods sold hence boosting consumer trust. Today, JD.com is China’s leading online direct sales firm as far as revenue is concerned. Richard Liu has received numerous prestigious awards like the 2011 China Economic Person of the Year, 2011 Chinese Business Leader and 2012 Chinese Businessman. Additionally, he has been named in Fortune’s list of “World’s Greatest Leaders” and is popular on world-class forums for giving insights on innovation trends in the retail sector.
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