Richard Liu, also known as Liu Qiangdong, is JD.com’s founder and CEO, currently one of China’s largest $57.6 billion e-commerce platforms. Forbes reports that Liu is worth $11 billion United States dollars. Walmart is one of the shareholders of JD.com, which has actually increased its financial stake to 12 percent. In June 2017 it was announced that JD.com had invested $397 million in Farfetch with a mutually beneficial partnership capitalizing on China’s two companies ‘ respective national and international clout and luxury fashion experience.
Liu graduated with a degree in sociology from the highly ranked Renmin University of China in 1996, but spent most of his time as a university student augmenting his computer programming skills through freelance coding, scripting, and design jobs. Liu graduated with honors with an EMBA from China Europe International Business School. After graduation, Liu was recruited by the Japan Life health product company, where he held a range of varying roles during his two-year time in their office, including computer manager and business manager. In 1998, Liu opened his own shop in Beijing selling magnetic products for eyeglasses and related optometrist technologies. He called it “Jingdong” from the last letter of his ex lovers name and the last letter of his name.
At the world economic forum, Richard Liu Qiangdong was interviewed about his journey through supply chain innovation to transform the retail industry, and how his work at JD.com has helped with this innovation. The translation of this interview was done by an incredibly skilled moderator, but there are still likely elements that are present in the original Chinese version but lost in the English one. His interview details how he has changed the industry dramatically, partially by expansion of technology across China. Integrated rural China into a vast technological network has wildly increased sales for the retail magnate. Additionally, massive investment into new and exciting technologies has both created excitement in the consumer class, as well as mkaing the purchasing process more streamlined through various forms of innovation.
About Liu Qiangdong: www.crunchbase.com/person/qiangdong-liu