Tag Archives: Chairman and Chief Executive Office

Richard Liu, Innovator and Recognized Businessman

Richard Qiangdong Liu is the Founder of JD.com., previously known as Jingdong and 360buy Ltd. Since his company’s beginning in 1998, Liu has been the Chairman and Chief Executive Officer. As a storefront that distributed magneto-optical products, Jingdong brought Qiangdong success, and his company grew by 2003 to 12 chain stores across Beijing, Shenyang and Shanghai. By 2003, these stores earned annual revenues of nearly USD 9,000,000 per year. After Liu became aware of the success that e-commerce was attaining in the late nineties, he began an online version of his business at the beginning of 2004.

With the tremendous rise in the popularity of his products and an outbreak of SARS in China (Severe acute respiratory syndrome) that forced Liu and his staff to be housebound and threatened his business, Liu conceived the idea of a logistics firm that would be able to deliver to all parts of the country. This logistics firm could also significantly reduce loss and damage during delivery. By shipping his products throughout the country, Liu enabled people in rural areas the ease of going to the closest town to buy appliances and other goods, thereby reducing costs for consumers. JD then launched 3,210 delivery and pick-up stations in nearly two-thirds of the counties in China. Interestingly, Amazon followed Liu’s model and abandoned third-party logistics for making “last mile” deliveries itself.

Presently, JD is China’s largest retailer and online company with direct sales. In 2014, JD.com was listed on NASDAQ. In 2016, JD became the first Chinese Internet company to be placed on the Fortune 500 Companies list. In this same year, JD.com became the first Chinese Internet company to be on the Fortune 500 Companies list. Entrepreneur Richard Liu has received numerous awards, as well. In 2011, he was awarded “2011 China Economic Person of the Year,” “2011 Chinese Business Leader” and Fortune China’s “2012 Chinese Businessman.” Liu has also been on Fortune’s list of the “World’s Greatest Leaders.”

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