Richard Liu the CEO of JD.com. Some think that JD.com may be the future of Chinese e-commerce. Today, it is impossible not to see that China is tech-driven and an economy based on consumption. Alibaba dominates in the apparel category, but JD has moved into China’s $5 trillion dollar market to sell in categories that include home appliances and electronics. JD also deals with logistics in-house, and this is something that Alibaba has been unwilling to do so far. JD also takes on the risk of carrying inventories.
This means his company may be able to achieve procurement scale over time. This may allow him to set the tone for selling quality products in a country that is known for selling fake goods. Also, in-house logistics can deliver products and services faster than status-quo companies.
Richard Liu Qiangdong graduated from Renmin University of China with a sociology degree. However, he spent a great deal of time learning to program at the highest levels. He also offered up his skills through freelance coding. After graduation, Liu earned an EMBA degree from China’s Europe International Business school. He then started his career working with a Japanese health product company. He held several roles that included director for business and director for computers.
Like many successful entrepreneurs, Liu chose to strike out on his own. He started with a small shop in Beijing and sold magneto-optical products. It only took several years for him to expand his store to 12. In 2004, he closed all his brick and mortal stores to focus on the emerging e-commerce industry. This is where he chose to sell electronics and consumer goods.
Today, Liu’s net worth is around $11 billion. He happens to be an Internet celebrity is his country of China. He is wealthy, young, and aggressive. These are the ingredients for success in a competitive world.
Learn more about Richard Liu : https://www.bloomberg.com/billionaires/profiles/qiangdong-liu/