How Richard Liu Qiangdong Is Planning For Global Expansion Of JD.com
JD.com is one of the largest e-commerce platforms in China. Since its inception in 2004, they have managed to sell countless products through their website. Currently, the firm is valued at $56.7 billion. The founder Richard Liu Qiangdong struggled with immense losses early in his career, like the fall of his megento-optical stores during the SARS outbreak in 2003. Currently, he is worth $11 billion as reported by Forbes.
As a certified sociologist and an MBA, Liu has exhibited exceptional entrepreneurial skills which led to the success of JD.com. During his tenure in college, he worked on his programming skills and devised the idea of creating an online e-commerce platform.
Liu Quiangdong took every failure in life as a learning and used them to device creative and innovative strategies for the growth and expansion of JD.com. Their recent tie-up with Central, a major retailer in Thailand has considerably increased their coverage in the South Eastern countries. They sell diverse products belonging from major international as well as domestic brands. Visit This Page for additional information.
Through his interviews over the years, we gain a good understanding of his strategies and business decisions. Their investment in the leading boutique firm Farfetch is proving to be a successful move as they are able to sell niche products that are in demand. Currently, consumer behavior is undergoing a transition to local brands which is like an unwanted cross-wind to the inventory management department and the overall growth of the company. But Richard Liu believes that with Farfetch they will have access to uncommon and in-demand local brands and will be able to provide their customers with the same.
Liu Quiangdong also discussed global coverage and plans to start conquering the world by starting from SouthEast Asia. He emphasized the fact that the delivery management system has to be an impressive one because the presentation matters. He prefers sending guys in luxury suits and high-end cars to deliver products for leaving a positive impression on the customer while securing the product in transit. They have introduced Chinese business models in Indonesia and Thailand which have sufficiently increased their value in the market space.
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