Richard Liu Qiangdong became an entrepreneur in June 1998. He started out with a computer parts store in Beijing. After the SARS outbreak, physical retail all but shut down in 2003. In response, he moved his business online to JD.com. This is now the biggest retail company in China.
Since JD.com was hugely popular, Richard Liu started to build out a national logistics network starting in 2007. He saw that people living in small towns had to travel to larger cities in order to buy a lot of things such as electronics and furniture. This made the real cost they paid for things far higher. He solved this problem through logistics and his company can now deliver things everywhere across the country.
Under Richard Liu Qiangdong’s leadership, JD.com is a truly massive company. It has over 3,200 delivery and pickup stations. He solved the “last mile” problem by having his own employees deliver products directly to consumers. His company operates the world’s largest fleet of drones that deliver products to people in rural parts of China.
Richard Liu built a company that sources products directly from suppliers rather than a middleman. This not only cuts costs but also enables JD.com to verify that the products on its platform are authentic. This has built trust with Chinese consumers who are always wary of getting fake goods instead of the real thing. Richard Liu’s focus on providing honesty and reliability is what has dramatically driven the growth of his company.
For details: en.everybodywiki.com/Liu_Qiangdong