Richard Liu is a well known and a well-reputed name when it comes to the e-commerce scene in China. He is the founder of JD.com which is one of the most well known and biggest names in the e-commerce market of China. China is a rapidly growing economy, and a significant amount of this growth is due to the e-commerce sector.
China is home to some of the biggest names in e-commerce worldwide such as Alibaba. JD.com is also a rapidly growing e-commerce platform. The platform of JD.com is indulged in the area of distribution of various products which fall under the domain of optical products.
The main area of optical products which it deals in is magneto-optical products. This platform initially started as a brick and mortar store. However, with the advent of factors such as the use of internet in the mainstream and the rapid growth in the sector of e-commerce, Richard Liu Qiangdong shifted his business model from a brick and mortar fashion to an e-commerce based style.
This further catalyzed the growth of the company which was always growing at a fast pace. The store has expanded rapidly and had opened up a total of 12 stores in major cities of China. However, this was back in 2003, and in 2004 the company launched its online version. It soon grew to a level of prominence all over China and recently, and took over China as the biggest direct selling e-commerce platform.
This is a major achievement for the young company and this achievement made headlines all over the world. The latest numbers show that the organization at hand has a total market share of more than fifty-four percent which is yet another impressive feat. It was also listed on the NASDAQ which is another testament to the highest quality level being offered by the company to customers all over the world. Due to his unparalleled hard work and business performance, Richard Liu won the award for the best economic person in all of China back in the year 2011.
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