JD.com is one of China’s largest luxury fashion e-commerce platforms. Its rapid growth has created fierce competition between JD.com and Alibaba another one of China’s growing fashion e-commerce platforms. JD.com has a current worth of 57.6 billion dollars. Attracting attention from shareholders such as Wal-Mart. Richard Liu Qiangdong is the founder and current CEO of JD.com. As a student he graduated from Renmin University of China in 1996, Richard Liu continued his studies at the China Europe International Business School. In 1998 he decided to start his own company selling magneto-optical products based out of Beijing. His first company was called Jingdong and quickly grew into twelve brick and mortar stores.
In 2003 the SARS outbreak in China changed how people acquired goods and forced him to close his stores and the company took a hefty monetary hit. Some might look at this as unlucky but Richard Liu Qiangdong took this time to reevaluate his business model. It was then he decided to change the business model and launch his online platform. In 2004 Liu put JD.com on the web where he began to sell a variety of electronics alongside consumer goods with an emphasis on customer service. JD.com proved to be successful and by 2005 the doors of Jingdong had all been closed. In 2014 Tencent took an interest in JD.com and purchased a stake in the company.
Along with the investment they agreed to help market JD.com online through its social networks. Which promoted JD.com active growth. Shortly after JD.com went public on Nasdaq. In 2017 Walmart increased its shareholdings in JD.com. JD.com then invested in Farfetch a company that also focuses on luxury fashion creating a partnership which all companies involved will benefit. Richard Liu Qiangdongis reported having a net worth of twelve billion dollars as currently reported by Forbes. As his business has grown he has developed valuable partnerships with international companies, with some of the most notable being WalMart and Tencent.