Most people in America and the West, the biggest online retail giants in China is Alibaba. All that many people have heard about is the interviews with Jack Ma and the extremely popular IPO on the American markets. But not as many know about JD.com and Richard Liu Quiangdong in America unless they are drop shippers who are actively seeking partners in China.
However, some people would be surprised to find out that JD.com is competing with Alibaba for the number one spot in growing at an exponential rate. They have a deal with WeChat, which is the biggest social media platform in China with billions of monthly users, and currently they are able to ship products out of one of their 500 warehouses (many more than Amazon in the US) worldwide with great speed.
Anyone living in Beijing can get their products delivered within 3 hours usually, if not under 7. And anyone living globally outside of China can get their products in as quick as 7 days or up to 15 days. Refer to This Article to learn more.
But this was not always the situation for Richard Liu, a former sociology graduate of the prestigious Renmin University in China, and EMBA graduate of the China Europe International Business School. He started out like many successful entrepreneurs, in a small shop in a large city.
Liu grew his magneto-optical parts business after working out of his MBA program for a company called Japan Life. He had 12 shops and started in 1998, until the SARS virus hit in 2004. It was at this point that Richard Liu had to switch gears and start selling online to mitigate the risk of catching the SARS virus for him and his employees.
Luckily this was a wildly successful move for Richard Liu and it allowed him to open up into new product categories and start a deal with WeChat and open onto the stock market.
View source: https://www.wealthx.com/dossier/qiangdong-liu/